Regen is a Agtech start-up that provides specialist software services to farmers for daily, accurate nitrogen, water and effluent irrigation recommendations. The company has just secured ~$1.1m of investment, which was underwritten and led by Pacific Channel. It now seeks a remaining $400k on the same terms to close its $1.5m investment offer, which would close the capital raise fully oversubscribed. The funds will be used to allow the company to capitalise on its opportunity within New Zealand’s irrigated pasture market and to grow its product set to include row and tree crops.
Recent regulatory changes in New Zealand require farmers to manage nutrients and water if they continue to irrigate. Regen’s market leading software is delivered via mobile app directly into the farmer’s hands to ensure pasture is kept within its optimal growing range, while reducing water use and minimising nitrate leaching.
For the average farmer on a 350 hectare farm, Regen’s software benefits have proven to accumulate more than $50k in value back annually.
As New Zealand marches into an unseasonably warm summer, water is already being highlighted as a widespread cause for concern. Regen gives farmers a recommendation on how to manage their water usage. This means farmers have a way to demonstrate their commitment to sustainable farming, show exactly how much water they’re using, and build up a track record of excellence.
Regen’s CEO Bridgit Hawkins has been pleased with the response from investors. “I would like to thank our investors for the confidence placed in the growing Regen team here in Wellington. The funds will allow us to grow faster in rolling out our existing products as well as further develop products for other crops”.
Bridgit has significant expertise in agriculture, farm systems and irrigation and sees Regen as a key player in the move toward evidence-based, realtime decision making.
‘This is a real trend emerging in the agricultural sector, and technology such as Regen’s can help drive the sustainability and profitability sought by farmers both here and offshore.”
To receive further information about Regen and its current capital raise, please contact Lachlan Nixon: [email protected].