Role: 1122

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Investing Non-Executive Directors (Non-Exec) with backgrounds/ experience in high growth start-up businesses for a disruptive technology delivering autonomous health tracking and analytical data in the farming industry. They are supported by the Enterprise Lab, Imperial College London, and Innovation RCA, Royal College of Art, London.

The business concept is to be a leader in weight prediction, an area of farming that has remained largely untouched, as technology has been introduced. By accurately measuring and predicting weight, farmers can adjust the feeding cycle, produce healthier livestock, and all in a kinder environment for the animal. Using an IoT hardware solution that will allow continuous, passive livestock data collection, this is set to revolutionise the agricultural industry.  Using machine learning for accurate data processing and to predict harvest weight, the process is kinder to the poultry, more efficient for the farmer and significantly more accurate.  A centralised online database for key metrics, builds over time/use and further enhances accuracy.

The company is looking to strengthen their Board with the appointment of 3 Investing Non-Executive Directors to contribute their knowledge, experience and networks to the growth of the company. 

The Non-Executive Directors will be encouraged to become shareholders in the Company to align the incoming Non-Exec’s interest with that of the existing Directors who are shareholders.

Business Concept:

Our client was born from analysis work carried out in the farming industry which revealed that practices in livestock production, especially in relation to weight measurement (a key indicator of health) were entirely manual. The team then evolved into a start-up business which applied science to these manual practices and developed an IoT solution using ML/AI which has transformed the weighing process.

  • Autonomous health tracking and analytics using machine learning for accurate data processing.
  • Technology enabled data collection for fast illness detection and confident weight estimates.
  • Enable farmers to consistently achieve ideal feed conversion ratios and therefore optimise feeding cycles.
  • Provide a more bird friendly method reducing stress in poultry.

 

Market & Opportunity: 

  • Globally the sector raises 65 billion chickens a year and this is expected to continue increasing. The global agricultural technology market is valued $10 billion.
  • The UK market alone produces 6 billion chickens per year and the number one producer has shown strong interest in this disruptive technology.
  • SE Asia represents an exciting market opportunity as it dominates the global growth in meat production. Firms are seeking to optimise resource allocation via technology to ensure lower bird losses and achieve more competitive pricing.

 

Client Proposition:

Our client looking to close £270,000 of funding which (circa) £160,000 will come from a grant application and the balance from Investing NED’s. This will allow us to reach demonstrator device level.

  • Total Investment sought circa £110,000.
  • SEIS/EIS Assurance / Yes.
  • Total Equity offered / 6% (i.e. 2% per £35,000 investment).
  • Use of funds: Develop and deploy demonstrator model into major poultry company. Refine technology based on feedback. Develop manufacturing strategy.

 

Non-Exec Director Roles/Requirements/Expertise: 

  • CFO: Ideally with experience in high growth technology businesses. Start-up type expertise would be a plus, along with international experience and have knowledge of fundraising.
  • Sales and Marketing: With excellent Agricultural connections perhaps through selling Technology into the sector either directly or through distribution.
  • Technology: Experience in the development of digital hardware technology and/or associated interconnectivity employing cloud based and IoT solutions.

 

Closing Date: Friday, 12th March 2021

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