Published by Entrevestor.com
Agtech company and Emeregence client SomaDetect has closed a $6 million venture capital round led by Ag Tech Canada, and intends to use the funds to accelerate adoption of its sensor technology that monitors the health of dairy herds.
As well as the Tillsonburg, Ont.- based private equity fund Ag Tech Canada, the funders participating in the round are Merck Animal Health Ventures, Builders VC and Wilbur Ellis’ Cavallo Ventures.
SomaDetect said it will use the new capital to accelerate the roll out of its sensor-based technology that assesses cows’ milk quality, reproductive status and health.
“It’s a huge milestone for our business and it’s wonderful to see investors and this group come together,” said SomaDetect Co-Founder and CEO Bethany Deshpande in an interview.