fodjan secures Series A financing and gains new partners
March 7, 2017
Technologiegründerfonds Sachsen (TGFS) and High-Tech Gründerfonds (HTGF) are investing in the fast-growing sector of smart farming. Lely Group has also agreed a strategic partnership with the company.
Dresden-based start-up fodjan is a specialist in the field of efficient feed management for livestock. The firm’s smart, cloud-based software makes it possible to reduce feed costs, increase operational efficiency while also improving animal health.
After securing financing for his company, Carsten Gieseler, Managing Director at fodjan GmbH, said: “A large amount of data is already being gathered in the agricultural industry. The real challenge is how to use this data intelligently and permit different pieces of data to communicate with one another. Following the successful completion of the latest financing round, we are now in a position to offer solutions to these challenges in the feed industry.”
fodjan will use the capital secured from the financing round as well as the expertise acquired through the new partnership to further develop its product portfolio and strengthen its sales and international activities.
Digitisation in the agricultural industry continues to advance
Smart machines that communicate with one another help farmers to rear animals in a livestock-friendly way. With the help of new technologies, it is now possible to know exactly what each animal needs and when.
fodjan initially supports this development with its intelligent feed management software, which enables farmers to provide the best feed rations for their livestock at any time and independent of their location. For its calculations, the programme considers existing inventories and quality of feed as well as the various requirements of the animals in order to produce optimisation suggestions in line with the farmer’s needs.
Roughly half of all farmers in Germany currently use digital solutions. The investors, partners and the company believe there is huge potential in the field of smart farming. Major developments are expected in the near future due to the increasing level of digitisation and cloud services.
Investors and partners
High-Tech Gründerfonds (HTGF) is expanding its investment in fodjan. Klaus Lehmann from HTGF says: “fodjan GmbH’s technologies address the most important cost factor for livestock farmers – feed costs – and are therefore of huge economic and ecological significance. Through its products, fodjan offers a diverse range of partners across the value chain – from farmers and feed suppliers to dairies – the opportunity to increase their profitability without neglecting animal health.”
Technologiegründerfonds Sachsen (TGFS) is a new addition to fodjan’s circle of investors. “Above all, we were impressed by the way fodjan is able to reconcile economic and ecological factors. The ability to keep a watchful eye over animal health, the amount of feed used and costs through tailored optimisation suggestions is one we believe to be pioneering and is 100% in line with the Saxony-based initiative simul+,” explains .
fodjan has also found an ideal strategic partner in the shape of Lely Group from the Netherlands. Lely is a specialist in technology and automation for the dairy cattle farming industry. Together, the companies share a similar vision in the digitisation of dairy cattle barns and the necessary steps to achieving this objective. , CEO of Lely Group, says: “Lely is always on the lookout for interesting technologies that help to make farming more successful. Together with fodjan, a start-up specialised in the field of cloud-based livestock farming and feed, we are looking to further develop the software and take it to the next level.”
Shortly after the founding of fodjan in 2014, SIEGMUND Beteiligungsgesellschaft mbH (SBG) took up a stake in the firm. SBG has been supporting promising start-ups in the central Germany region for ten years now. “fodjan’s solutions for the comprehensive optimisation of dairy cattle farming and above all its creative ideas for additional services were crucial to our decision to invest in the company,” says Frank Siegmund, business angel of the year 2008.
fodjan GmbH was founded in Dresden in September 2014. Carsten Gieseler, one of the company’s managing directors, developed the idea for smart feeding software during his own university studies in agriculture and business administration. Having been awarded the 2015 agricultural industry funding prize and the 2015 GIL prize (awarded by the Society for Computer Science in Agriculture, Forestry and Nutrition Science), fodjan GmbH and its innovative software product are setting an important milestone in the increasing digitisation of the agricultural industry.
You can find further information at: www.fodjan.de.
About Technologiegründerfonds Sachsen
TGFS (Technologiegründerfonds Sachsen) provides technology-oriented founders with venture capital for the seed and start-up phases. The fund was established in 2008 with a volume of EUR 60 million, which was increased to more than EUR 124 million in March 2016. TGFS targets young, innovative, tech-oriented founders and companies in the fields of ICT (especially software for business processes, big data, Industry 4.0), semiconductor and microsystem technologies including sensors, new materials, medical technology as well as environment and energy technology. It invests in young companies that are either headquartered or have business premises in Saxony.
You can find further information at www.tgfs.de.
About Lely Group
Lely, founded in 1948, directs all its efforts towards creating a sustainable, profitable and bright future in farming for its customers. Lely offers a complete portfolio of products and services, ranging from machines for forage harvesting and automated feeding systems to barn cleaners and robotic milking systems, thus giving the company a unique position in the agricultural sector. Lely is also currently developing operational concepts for energy-neutral processes in the agricultural industry. Lely has been a market leader in the field of robotic milking systems for many years and has a strong position on the market for forage harvesting products. Lely Group employs more than 2,000 people and is active in more than 60 countries.
You can find further information at www.lely.com.
About SIEGMUND Beteiligungsgesellschaft
SIEGMUND Beteiligungsgesellschaft mbH (SBG) was founded in 2006 by business angel Frank Siegmnud. It currently holds stakes in five ventures, including three together with HTGF.
You can find further information on Frank Siegmund’s business angel network at www.IQ2b.net.
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About High-Tech GründerfondsHigh-Tech Gründerfonds (HTGF) is Germany’s most active seed stage investor. With EUR 576 million under management in two funds we provide financing for technology-driven companies active in a wide range of fields, including robotics, IoT and energy, Medtech and Biotech, chemicals and software. Investors in this public-private partnership include the German Federal Ministry of Economics and Energy, the KfW Banking Group, and 18 strategic corporate investors.