AgriWebb, an Australia-based farm management software developer, has raised A$30m ($23m) for its series B round led by Telus Ventures, a corporate venturing subsidiary of telecommunication company Telus.
The round, which has valued the business at over $78m, also included a $5m commitment from the state-backed Clean Energy Finance Corporation.
AgriWebb’s software platform can assist farmers with activities such as record-keeping, task management, inventory management and farm mapping.
The company’s platform is used by more than 5,000 farmers globally which manage more than 14 million animals, according to an official release.
AgriWebb will use the series B funding for product development, international expansion and to look at new applications for its data platform, mainly in the internet-of-things and regenerative farming sectors.
In August 2019, the company secured $10m of funding from Wheatsheaf Group, a food and agriculture-focused investment firm established by Duke of Westminster’s Grosvenor Group, AgFunderNews reported. The deal also included the acquisition of Wheatsheaf’s livestock management software company FarmWizard.
AgriWebb received $3m in a 2016 seed round led by existing investors and fund management firm executive John Murray, that also included funding from farmers, local agriculture groups and investment firm Al Hamra Group.
Alongside the round, the Australian government provided a $575,000 grant through its Accelerating Commercialisation scheme.