Skip to content Skip to sidebar Skip to footer

Agtech Funding News

Ag Startup Engine makes initial investment in VetMeasure

June 11, 2019

Ag Startup Engine has made an initial investment in Ames-based VetMeasure.

VetMeasure has developed a harness that will improve real-time monitoring of a pet’s health by allowing veterinarians and pet owners to monitor the pet’s health remotely.

The MeasureON! harness, currently designed for dogs, measures key health metrics including temperature, respiration, and heart rate, and the dog’s environmental temperature and humidity. These metrics are sent to a mobile and web application to be viewed by veterinarians and clinic staff. Through setting personalized safe ranges, automated alerts are sent to the vets and vet techs when a dog nears critical levels.

“VetMeasure’s technology has the ability to dramatically improve an animal’s recovery rate through consistent, reliable health metrics,” said Kevin Maher, Founder and President of VetMeasure. “We’re excited to work with Ag Startup Engine because we’re confident that the harness will have an impact on animal and livestock health throughout the future. Ag Startup Engine funding will help advance our Series A equity round toward product release and hiring of key employees.”

VetMeasure plans to expand its technology platform to the dairy and beef sectors. VetMeasure’s technology will alert animal caretakers of a fever and other issues before they would typically be detected.

“Kevin Maher brings tremendous experience in animal health to his latest venture,” said Kevin Kimle, Co-Director of the Ag Startup Engine. “His relationships with veterinarians and animal health professionals will be valuable as he scales VetMeasure and we look forward to his continued contributions to the startup ecosystem in the ISU Research Park.”

This is the tenth company Ag Startup Engine has invested in since forming in 2016. Over the next year, Ag Startup Engine will add up to five more agriculture technology startups like to its portfolio, ranging from animal health to precision agriculture.

Previous coverage

Ag Startup Engine invests in ClearFlame Engines -Jan. 31, 2019

Leah Laboratories receives seed investment from Ag Startup Engine -Jan. 16, 2019

VetMeasure: Accurate health monitoring for pets -June 25, 2018

Tags: ag startup engine VetMeasure

Ag Startup Engine makes initial investment in VetMeasure | Clay & Milk

A central Iowa ag-tech accelerator has secured more backers and finally has a name. The Greater Des Moines Partnership first announced the accelerator last year, naming four initial investors. On Monday, the Partnership said the program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. and Sukup Manufacturing, all Iowa companies. They join investors Deere & Co., Peoples Co., Farmers Mutual Hail Insurance Co. and DuPont Pioneer. Each investor has agreed to put up $100,000 for the first year of the accelerator. Startups entering the program will receive $40,000 in seed funding in exchange for 6 percent equity. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader. Dhawan held a similar role with the GIA before Brian Hemesath was named as managing director. As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said. "When you’re seeking innovation, innovation can come from every corner of the world so why restrict ourselves," he said. One area the the AgriTech Accelerator won't recruit from is biotech. For its first cohort, the AgriTech Accelerator will work out of the GIA's space in Des Moines' East Village, Dhawan said. A future, permanent home is still to be decided. The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the annual World Food Prize. The GIA, which the AgriTech Accelerator is based on, also ends with presentations at an industry event. The accelerator has also started lining up a mentor pool. The Iowa Corn Growers Association, Iowa Soybean Association and the Iowa Pork Producers Association have agreed to provide mentors, as has Iowa State University. While the AgriTech Accelerator is loosely based off of the GIA, it will differ in its business structure, Dhawan said. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Dhawan said the nonprofit model is being used so the accelerator can better work with other nonprofit partners, such as trade associations. "These are all organizations that are nonprofits and can be amazing stakeholders without ever having to be investors in the accelerator," he said. "It becomes easier to work with trade associations in their nonprofit role when we are also a nonprofit." When it's up and running, the AgriTech Accelerator would be one of a handful of ag-focused startup development programs in Iowa. Others include the Ag Startup Engine out of Iowa State University and the Rural Ventures Alliance from Iowa MicroLoan. Matthew Patane is the managing editor and co-founder of Clay & Milk. Send him an email at mpatane@clayandmilk.com.

This Pop-up Is Included in the Theme

Best Choice for Creatives