FarrPro successfully​ wraps up seed investment round

FarrPro recently completed their investment seed round and have successfully raised the amount of capital needed to support the company’s ongoing development and near-term growth, according to a press release by PR Newswire.

Farrpro, based out of Iowa City, is developing next generation piglet heating solutions to help reduce both mortality and energy costs in farrowing facilities.

Grinnell Mutual is the lead investor. Farmers Mutual Hail Insurance Company of Iowa, Iowa AgriTech Investment Fund, and a small group of angel investors hold the remaining positions in the round.

While FarrPro has successfully completed the official portion of the round, they have decided to keep the round open to industry-specific strategic partners through the end of October 2018.

“We have an incredible group of investors participating in the round — individuals and organizations that have been, and will be, key to our success,” said co-founder and CEO Amos Petersen in the press release. “We’re humbled by the strong response to our offering, and are eager to start working with our investors and strategic partners to create transformative solutions for the pork industry and animal agriculture as a whole.

In addition to completing the investment round, FarrPro also announced that they have brought on two new members to their team, David Raduechel and James Wetzel, PhD.

Raduechel joined FarrPro in April of 2018 as the Chief Financial Officer and Director of Operations. Dr. Wetzel joined FarrPro earlier this month as Director of Research and Development.

Farrpro was one of five companies that participated in the Iowa Agritech Accelerator‘s inaugural cohort last year.

Clay & Milk has reached out FarrPro for more information and will update this post with more details when we hear back.