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Ag Startup Engine makes initial investment in Sentinel

January 29, 2020

Ag Startup Engine announced this week it has invested in Sentinel, an Iowa-based startup that combines artificial intelligence and computer vision to accurately track animal inventory and animal well-being.

“Sentinel technology allows swine producers to monitor critical barn level information in real-time using AI and Computer Vision technology. With this accurate, reliable, and timely data, swine producers can break the reliance on humans for data collection and recording,” said B.J. Brugman, CEO and Co-Founder of Sentinel. “We are proud to partner with the Ag Startup Engine as begin to deploy our product to the U.S. Swine Industry and continue to advance and refine our technology.”

Inaccurate daily animal inventory counts create a host of problems for swine producers. The impact of inaccurate inventory is felt from the individual caregiver to the scheduler at the harvest facility. Sentinel combines AI and computer vision to accurately track animal inventory in real-time and connects key barn level information to the production team in order to make timely and informed decisions.

“We want to invest in founders and projects that understand the issue and real problems facing the animal health industry,” said Joel Harris, co-director of Ag Startup Engine. “BJ’s experience, connections in the swine industry, and the team he has put together gives Sentinel the best chances of succeeding.”

To date, Ag Startup Engine has invested in 11 different companies. Over the next year, the Ag Startup Engine plans to add up to four more agriculture technology startups like Sentinel to the portfolio ranging from animal health to precision agriculture.

Tags: ag startup engine Funding sentinel

Ag Startup Engine makes initial investment in Sentinel | 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.

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