Skip to content Skip to sidebar Skip to footer

Investments News Tech

Ames Seed Capital invests $100,000 in VetMeasure

August 7, 2019

Ames-based VetMeasure has received a $100,000 investment from Ames Seed Capital.

VetMeasure has created an animal heart monitoring device that allows pet owners and veterinarians to monitor a pet’s health remotely and in real-time.

VetMeasure’s MeasureON! Harness measures key health metrics and sends the data to a mobile and web application for veterinarians to view. When the dog’s metrics reaches critical levels automated alerts are sent to veterinarians and clinics.

“VetMeasure is honored that Ames Seed Capital joined as an investment partner representing the Ames community. This timely investment helps support VetMeasure’s preparation for the commercialization phase,” said Kevin Maher, CEO of VetMeasure in a news release.

VetMeasure is currently working to obtain $1 million in seed capital and has raised about half of their goal.

“As our team continues to identify and meet with additional investor prospects to fulfill our Series A investment round, we appreciate interest expressed by accredited investors in our exciting new business, to advance VetMeasure forward with our first product to be launched into the veterinary profession,” said Maher.

VetMeasure plans to spread their technology to dairy and beef. Their technology will alert animal caretakers to issues before they would usually be detected.

“By investing in VetMeasure, Ames Seed Capital continues to build on our 30-year tradition of supporting local entrepreneurs with sound business opportunities who intend to create jobs in the Ames and Story County market,” said John Hall, Director of Business Development at Ames Economic Development Commission. “We are proud to support Kevin, a serial entrepreneur in the Ames area, and VetMeasure, a company with a promising future.”

Previous coverage

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

Ag Startup Engine makes initial investment in VetMeasure -June 11, 2019

Tags: Ames Seed Capital VetMeasure

Ames Seed Capital invests $100,000 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