Ranchbot Raises Funding To Expand Water Management Technology
Tim Hammerich
News Reporter
Ranchbot recently closed a $15 million Series B financing round. The company’s IoT and satellite-connected platform already helps more than 12,000 producers manage roughly 10 million cattle and 15 million sheep across Australia and North America. Founder Andrew Coppin says a big part of their success is the fact that ranchers can quickly see the value in this water management technology.
Coppin… “ Despite high beef prices, we are living in a world of rising costs and ranchers across the world, not just in the US, are trying to find ways to run a more efficient operation. So water is a preoccupation for every single farmer and rancher on the planet because nothing happens without it. So if there's a more efficient way to run and manage your water, I think they're all ears to hearing about it. And, you know, we're providing them with a simple technology that they can self-install, turn it on, and five minutes later, they're going to have better insights than they had previously. Because the status quo at the moment, of course, is driving around to check things that don't need checking.”
Coppin said the new round of funding will help the company expand their reach to more ranchers across North America.
