Local agtech beefs up its feed export plans to US
A Queensland-based company – already supporting some of Australia’s largest beef producers in the country – is looking to export its livestock feeding tech.
A Queensland-based agtech company is eyeing an expansion to the US – where there are about 600 million head of cattle compared to 29 million in Australia – with their latest tech to feed livestock.
DIT AgTech automates feed supplementation, giving nutrients to livestock through water. This means cattle are fed supplements every time they drink, reducing the need for manual feeding runs across large-scale properties.
It already supplies its systems to more than 370,000 head of livestock across some of Australia’s largest cattle producers – including AACo, Stanbroke, Kidman, and Macquarie Asset Management’s Paraway Pastoral Company.
But as fuel price hikes, fertiliser shortages and labour pressure drive stronger demand for technologies to reduce operating costs, the private company has launched a multipart crowdfunding raise as it looks to expand into the US market.
And Australian investors are already backing the move, the company said.
Company founder and CEO Mark Peart said the economics of farming was shifting, meaning producers were looking for ways to reduce dependence on diesel and labour.
“We started with a very simple idea – how do you reduce labour, diesel and operational complexity across massive grazing systems while improving animal performance at the same time,” he said.
“As conditions become more volatile globally, producers are looking much more closely at technologies that reduce recurring costs and make operations more resilient.”
DIT AgTech said it was seeking about US$15 million to support its expansion into the US, which it sees as a major long-term growth market.
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The company told InDaily so far, the response to the rollout had been strong as producers become more focused on protecting margins.
“Agriculture has historically been under-digitised compared to most industries,” Peart said.
“There’s now a major opportunity to modernise livestock systems around automation, monitoring, operational efficiency and carbon management.”
The company has already secured early support from Australian investors through its US entity ahead of the broader raise, a DIT AgTech spokesperson said.
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