NEWS COMMENTARY

SomaDetect's $6 million Series A shows slow but promising growth for solutions that quantify livestock health

Published:
March 05, 2021
Coverage:
Emerging Ecosystems in Agrifood and Health More...
Activities:
Investment
Average importance

Led by Ag Capital Canada, the round brings SomaDetect's total funding to $10.4 million. The round also included existing investors Builders VC and Cavallo Ventures and new investor Merck Animal Health Ventures, which this past year made a series of strategic investments in animal health monitoring that helped push livestock welfare and traceability into the spotlight. SomeDetect, which had anticipated testing its in-line milk monitoring system with 50 dairy farms in 2020, will use the funds to recruit more farmers in the U.S. and Canada. Clients, the digital transformation of the livestock industry is slow-moving, placing an added risk on investors; view Merck's investment in SomaDetect as good sign for the company's development.

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