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Verility Inc. announces a successful $3.5M Series A funding round to enhance their innovative livestock fertility platform, advancing ag tech solutions for improved reproductive performance in animal husbandry.
Introduction
In a significant stride for agricultural technology, Verility Inc. has successfully closed a $3.5 million Series A funding round. This investment marks a pivotal moment for the startup, positioning it to further develop its cutting-edge livestock fertility platform. The infusion of capital is set to accelerate Verility’s mission to revolutionize reproductive performance analysis in the livestock industry.
About Verility Inc.
Verility Inc., headquartered in Maxwell, Indiana, is at the forefront of ag tech innovation with its proprietary platform, Fertile-Eyez™. This livestock fertility platform leverages advanced image recognition and AI-driven algorithms to provide breeders and livestock producers with precise fertility analysis. By predicting ovulation phases and assessing sperm quality at the point of care, Fertile-Eyez™ offers a simple, accurate, and cost-effective solution to enhance reproductive outcomes.
Series A Funding Details
The $3.5 million Series A round was spearheaded by Mountain Group Partners of Nashville, Tennessee, alongside a notable previous investment from Purdue Foundry. This substantial funding will enable Verility to transition Fertile-Eyez™ from development to commercial deployment, targeting swine producers and breeders as its initial market segment. The goal is to prepare for a commercial launch anticipated in late 2023, bringing automated mobile breeding technologies to an industry ripe for innovation.
Impact on the Livestock Industry
Improving fertility rates is crucial for both producer profitability and global food sustainability. Verility’s livestock fertility platform addresses this by enhancing conception rates, which are directly linked to increased productivity and efficiency in animal husbandry. By providing real-time, AI-enabled insights, the platform helps farmers make informed decisions, ultimately leading to better livestock management and higher quality meat production.
Leadership Insights
Liane Hart, co-founder and CEO of Verility, emphasized the urgent need for innovation in livestock fertility analysis. “Improving sperm analysis and ovulation detection are vital for meeting the demand for edible meat protein,” Hart stated. Brian Kopp, Verility’s CFO, added, “We are thrilled to attract investment that fuels animal health innovation, making significant strides in fertility improvements where they are most needed.”
Mountain Group Partners’ Managing Director, Rob Readnour, highlighted the strategic alignment of Verility within their portfolio. “Verility complements our focus on transformative businesses in animal health and technology. Their Fertile-Eyez™ technology is poised to make a meaningful impact on global animal agriculture.”
Technological Advancements
Fertile-Eyez™ stands out in the market as an AI-enabled, smartphone-based platform that brings precision agriculture to the forefront. The technology, originally developed and validated at Brigham and Women’s Hospital affiliated with Harvard Medical School, showcases the versatility and scalability of AI applications in traditional agriculture. By automating fertility analysis, the platform reduces the reliance on labor-intensive methods, addressing challenges such as rising input costs and labor shortages exacerbated by recent global events.
Future Plans
With the Series A funding secured, Verility is set to enhance its product offerings and expand its market reach. The company plans to establish robust commercialization pathways and build strategic partnerships within the livestock industry. Future initiatives include expanding the platform’s capabilities to cover a broader range of livestock species and integrating more sophisticated data analytics to provide deeper insights for producers.
Conclusion
Verility Inc.’s successful Series A funding round is a testament to the growing recognition of the importance of technological innovation in agriculture. By advancing their livestock fertility platform, Verility is not only enhancing reproductive performance but also contributing to the sustainability and profitability of the livestock industry. This development marks a significant step towards more efficient and intelligent animal husbandry practices.
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