Feedlogic Corporation, a leading supplier of intelligent feeding solutions for livestock production, has completed a Series A round of financing to fund business expansion.
The private placement attracted investors from four MidWestern states, many involved in livestock and crop production.
“We are pleased to complete our funding round in a difficult private equity environment,” said Drew Ryder, Feedlogic president. “The capital injection will allow us to accelerate our growth plans. With the increasing challenges of high feed costs for livestock producers, the need for our technology has never been higher. Many of our new shareholders understand this very well from where they sit and what they see every day.”
Ryder said the drought in the U.S. has put enormous pressure on feed ingredient pricing and made it even more important for livestock producers and feed manufacturers to become more efficient by improving the feed supply chain. “Our technology addresses many of the current inefficiencies in the feed supply chain,” he said. “The more we can do to help both producers and feed suppliers manage their inventories and adjust their rations rapidly in response to changes in ingredient pricing, the more viable the business model will be in the face of more volatility in the commodity markets.
“With additional capital in the company, we are applying a laser-like focus on developing telemetry solutions which will assist our customers greatly in their quest to reduce costs and address inefficiencies in the supply chain,” Ryder added.