Pacific Channel leads $940,000 capital round to support agri-tech start-up, Bovonic to scale globally

June 21, 2024

With demand for kiwi start-up Bovonic’s mastitis detection technology far exceeding expectations, Pacific Channel is thrilled to be supporting the company move from development to sales, and scale globally, while also focussing on New Zealand as a market.

QuadSense is an in-line, automated detection technology that enables dairy farmers to quickly and accurately detect mastitis, one of the most expensive diseases affecting the global dairy industry. The $940,000 capital round is also supported by Enterprise Angels, MIG Angels, and NZVC and follows an initial $750,000 investment from Pacific Channel.

Since Bovonic first showcased QuadSense in 2021, more than 450 farmers globally have registered their interest in the product. 400 units have already been pre-ordered by New Zealand farmers and interest is increasing exponentially.

With this capital investment, Bovonic can accelerate production of commercial units and focus on identifying a second target market for QuadSense beyond New Zealand to have a transformative impact in the global dairy industry.  

When Pacific Channel first invested in Bovonic, our team’s view was that pre-orders would validate the market by confirming demand, which in turn would develop and expand the mastitis detection market.

Even after a short time, and without proactively marketing the product, the overwhelming level of interest in QuadSense demonstrates that Liam and the Bovonic team have developed a solution that dairy farmers need – mastitis detection technology that is quick and easy to use but importantly is not cost prohibitive, addressing the economic barriers that have prevented mass uptake of existing mastitis detection technologies.

This market demand combined with the capabilities of the company’s management has provided us with a high level of confidence that Bovonic will meet its key milestones and scale to solve a significant problem facing the global dairy industry.  

Mastitis is one of the most expensive diseases impacting the dairy industry, and while other solutions are effective, for many farmers they simply don’t stack up economically. According to DairyNZ, other automatic mastitis detectors can cost as much as $3,000 per bail.

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