We are delighted to have recently concluded an investment of £3m into Silent Herdsman Ltd by Scottish Equity Partners, Albion Ventures and the Scottish Investment Bank. The Company produces smart collars for cattle which give farmers remote visibility of the health and reproductive condition of their animals 24/7, improving herd performance, yields and profitability.
We first met the team in 2012, and it was clear that the business had huge opportunities with market leading technology. The Company had made excellent progress without having raised external debt or equity but was going to find future growth, and international ambitions in particular, restricted by lack of finance.
Our objective was to secure investment into the Company which would allow it to pursue its short and medium term growth aspirations. It was also important that we brought on board high quality investors who would also have the capacity to fund future opportunities as and when they arose.
While the Company addresses the agricultural sector, the technology fundamentals of intelligent sensors, wireless communication and software as a service (SAAS) are broader themes and it was vital to work with investors who could see beyond touring farmyards in the rain. The Company has strong links with Scottish Enterprise as a success story of the ITI programme – maintaining and strengthening that link was also a key objective.
Silent Herdsman now has VC backing with an outstanding track record of building successful businesses and generating value. The Board has been further strengthened with the appointment of Jack Perry, former CEO of Scottish Enterprise, as Chairman.
Annette MacDougall, Silent Herdsman CEO, said: “This investment underpins our unique and distinguishing product features and represents a significant endorsement towards our global expansion plans. The Silent Herdsman predictive analytic software platform is uniquely positioned to assist dairy and beef farms globally to bolster productivity gains, improve operational performance and increase profit on farm. We are delighted to be working with a sterling team of professional and knowledgeable investors who have supported our technology roadmap for taking on-line data services towards internationalisation and expansion.”
Stuart Paterson, Partner at SEP added “There are currently over 1 billion beef and dairy cows world-wide and over 34m dairy cows in the EU and US alone. This number is continuing to grow as countries get wealthier and demand for dairy products increases. As a result, this represents a market opportunity of over $1bn per annum to Silent Herdsman. Moreover, the solution significantly enhances the efficiency of world food production which is of global concern. The company is rapidly making sales both in the UK and internationally, and as a result, SEP is delighted to support the company’s growth plans.”
Craig Corporate are delighted to have been able to support a Scottish technology prospect at such a key stage in its development and we wish the Company every success in the future.