FUNDING ROUND SUMMARY
The cloud-based solution developed by AgDNA solves the complexity of collection, analysis and access to high-resolution precision farming data. This data is automatically streamed from the “internet-of-things” (IoT) agricultural equipment via AgDNA directly to commercial crop producers’ smartphones and tablets. The agronomic insights delivered help farmers to maximise crop yield, optimize input costs and increase overall farm profitability.
AgDNA has packaged this big data analytics engine into a Platform-as-a-Service (PaaS) delivery model and now offers it as a private labelled mobile app and website to large scale agricultural equipment dealers to resell as value added agri-data services to existing clients in their exclusive sales territory.
“Our algorithms help farmers feed the world.” – Paul Turner, Founder and CEO
- World-wide data license agreements with the world’s top machinery manufacturers and irrigation OEM’s
- Proven and scalable technology being used in 156 countries to manage over 2.8 million acres
- Digital agri-data services sold through equipment dealers generating recurring per acre revenues
- World’s first automated cloud-based agronomic spatial data analysis and delivery to mobile devices
- Platform-as-a-Service private labelled solution targeting 3,000 dealer locations spanning 500M acres
- Q1 of 2015 revenue of $146,000 up from 2014 total of $263,000
- Monthly dealer acres growing at 150% month on month for Q1 2015
Product / Service
The cloud based data storage and processing solution is capable of:
Collection – by establishing data licensing agreements with the world’s largest Original Equipment Manufacturers (OEM’s) with internet enabled ag machinery, AgDNA is able to automatically collect the raw data via API web services
Processing – the proprietary cloud-based data processing algorithms developed by AgDNA are capable of automatically interpreting and converting numerous raw data sets including agronomic production, machine performance, remote sensor and precision weather information all geo-spatially sorted across every acre.
Agronomic Analysis – the high definition precision farming data being accumulated by AgDNA lends itself to Evidence Based Analytics (EBA) to determine yield limiting factors and their cause
The resulting value proposition for crop producers:
– Make farming more profitable
– Achieve a greater ROI from technology
– Provide easy access to critical farming data; and
– Help reduce risk
Value proposition for the equipment dealer channel:
– Time savings within dealer’s precision farming technology department
– Build deeper value-added relationships with grower
– Provide higher quality precision farming services and increase revenue
As the major OEM’s enter the Internet-of-Things (IoT) by offering wireless data transfer capabilities as standard fitment on new high-end tractors, sprayers and harvesters, the data management burden increases exponentially and directly impacts farmers globally. This issue is further compounded by the OEM’s not providing yield enhancing analytical solutions for the machine-generated data.
AgDNA solves the challenge of automatically processing these large volumes of this machine generated raw data into high definition geo-spatial agronomic information. The proprietary AgDNA algorithms then analyse this information along with other agronomic spatial data sets and determine correlations and causality and identify opportunities for increased yield.
AgDNA is able to compare machine generated seeding, application and yield data with geo-spatial topography, soil and weather information to build a yield gap analysis model of every field.
We call this process Evidence Based Analysis (EBA) and it’s incredibly powerful and valuable.
The platform then allows the equipment dealer to create variable rate seeding, application or irrigation prescriptions which can be deployed directly to the internet enabled equipment. By understanding the spatial variability throughout the field, AgDNA is able to provide solutions to maximise yield and ultimately profitability across every acre.
The flexible and customizable nature of the digital only AgDNA solution delivers a range of value added services and allows dealers to offer a various pricing options to suit the grower’s needs and budget. Each of the AgDNA services rely on different data sets which are available spatially thereby lending themselves to the ”per acre” subscription model.
In addition to the per acre grower fees, the equipment dealer pays a platform sign on fee and ongoing monthly maintenance subscription proportional to the number of store locations in their territory.
The company is initially targeting English speaking geographies across an estimated 500 million farming acres with a combined dealer network of over 3,000 stores. With critical mass established in this market, the company will then include multi-lingual support and roll out the PaaS model internationally with particular attention on Europe and South America.
What AgDNA is not… AgDNA is not just another of the countless number of new entrants the mobile “Farm Management” and “Record Keeping” space.
In fact no other company in the world has the agronomic analytics and spatial data capabilities automated in a cloud-based, mobile delivery platform accessing OEM wireless data, packaged into a private labelled platform for equipment dealers.
That’s right, no other company has this capability!
*Lindsay still in discussion
By leveraging the OEM data licensing agreements and providing the dealer with a branded solution, AgDNA becomes an indispensable gateway for data between the OEM and the equipment dealer and grower user base.
5 Stars by Red Dwarf Fanatic
Really enjoying the auto-recording function for my field activities.
5 Stars by Robbo2883
Exactly what I need without having to pay for expensive GPS devices.
5 Stars by CA farmer
This is an excellent tool to help improve on farm communication with multiples managers, and to connect PCAs with the farm owners.
“I absolutely love this app it’s so handy.” Aaron, United States
“Great app that is going down a storm on our farm.” James, United States
“Thank you very much… a happy Spanish farmer!” Jaime, Spain
Dealer Channel Feedback
“AgDNA’s data services are like going from 3G to 4G. Once you have 4G you will never go back.” Neal, USA
Planned Use of Funds
With a successful dealer strategy already being rolled out, a high emphasis will be placed on accelerating growth. This includes additional Account Managers, training and support resources primarily focused on the North American market.
The high resolution geo-spatial seeding, soil, yield, topography and climate data already flowing through the system allows for tremendous insights into each and every acre. The Evidence Based Analytics (EBA) engine will be further enhanced as “big data” permeates throughout the platform. Additional funds will be invested into the engineering and data science team to extend the “secret sauce” and competitive advantage in automated data analysis.
OEM Data Integration
With the technology stack, system architecture, analytics engine and delivery model already in place, significant growth can be achieved through the addition of new OEM data streams. Funds will be allocated to resourcing the engineering and business development activities to integrate this data and on-board new channel partners.
Leadership and governance of funds invested:
The AgDNA leadership team and board of directors have extensive experience in the commercialisation of disruptive technologies in precision agriculture and the company’s data scientists have worked on complex data processing projects including mapping the arctic polar ice caps and interpolating Mars rover imagery for NASA.
The experienced leadership team will manage the allocation of funds wisely to further develop the company’s innovation pipeline and channel to market to ensure it maintains its current position of technology leadership and superior competitive advantage.
AgDNA Pty Ltd
With over 20 years of technology management and business development experience Paul has worked across numerous disciplines including 12 years in the in the precision agriculture technology sector. As founder of AgDNA Paul recognised a gap in the global agriculture sector and commercialised his vision of the mobile SaaS platform for crop producers.
Prior to founding AgDNA, Paul held various senior executive positions in Australia and the US in the precision farming sector. During this time his responsibilities included global software development, research and development, OEM and aftermarket distribution, channel management and technology commercialisation.
Paul has a comprehensive background with hands-on experience in taking technology companies from start-up to commercialization through to trade sale. He has led several R&D commercialisation projects and holds an MBA in Technology Management and a Bachelor of Engineering.
Leveraging 13 years experience in software development, database architecture and user interface development David is responsible for having architected the AgDNA platform from the ground up.
Prior to joining AgDNA David headed up the software department for CSI Wireless Inc where he led the team to redeploy their GPS guidance platform to across to .Net architecture. He also worked for Siemens’ Postal Automation Division as the Senior Software Engineer as well as other roles involving mobile interfaces for 3D visualisation and advanced software projects for NASA. His advanced technical skills and diverse experience provide David with the key strengths to lead the development of AgDNA’s mission critical SaaS backbone and mobile platform.
David has a Bachelor of Computer Science from the University of Nevada.
Having started a software development business at the age of 17, Ryan then co-founded Fireball Information Technologies, a technology company providing real-time infrared fire mapping services to the US Forest Service and California Department of Forestry.
Over the last 15 years Ryan has specialised in solving complex data processing projects including:
• mapping underground ruins in Mexico
• developing large-area, high altitude mapping systems for US Government agencies
• working under contract for NASA to measure glacial change with airborne photogrammetry in the arctic and Antarctic
More recently Ryan has developed technologies for producing small scale 3D elevation maps of the surface of Mars with data acquired by cameras on-board the Mars Science Laboratory’s Curiosity rover.
Ryan has a B.S. and M.S. in Applied Mathematics from the University of Nevada, Reno.
Bernard is a partner of NBC Capital, a leading private equity investor in middle market companies in Australia. He helped establish NBC Capital in 1999 and has been integral to NBC’s success in raising three private equity funds to date; investing in the growth of over twenty businesses; and negotiating several joint venture and technology transfer agreements.
Bernard has an astute appreciation of market dynamics and the operating challenges that are critical to the growth of Australian SMEs. He has a track record of success in negotiating national and international commercial agreements. Moreover, he is noted for his commitment to NBC’s investee companies and his relentless support in assisting them to execute their growth strategies.
Bernard is recognised for his analytical, negotiation and communication skills and his uncompromising tenacity. He holds a Bachelor of Economics, and a Masters of Science. He has also completed professional development courses at Macquarie, Harvard and INSEAD Universities.
John is a partner with Altezza Partners an accounting and professional advisory firm that specialises in providing tailored outsourced financial management services. John provides CFO and company secretarial services to a portfolio of fast growth, Australian technology companies.
John has a business advisory, public practice background and has worked in Australia, UK and Europe. He also held senior positions with leading investment banks in London and has a Bachelor of Business (Accounting) from University of Queensland and is a Chartered Accountant.
As a co-founder of BEELINE Technologies in 1997, John and his partners created and launched the world’s first commercially available tractor GPS auto-steer technology and in doing so, transformed global mechanised agriculture. During this period John managed the Australian sales and marketing team later established the North American and European business operations.
In 2003, the US Secretary of Agriculture Ann Veneman invited John to be a key presenter on ag machine technology at the International Ministerial Conference on Agricultural Science and Technology held in Sacramento California sponsored by the USDA, USAID and the US State Department.
John is an experienced agricultural technology executive with over 15 years in the sector. He remains a student of the impact of technological change on agriculture and how disruptive innovation upends traditional markets and the companies that participate in them.
John has a Bachelor of Economics from the University of Queensland.