An agri-tech innovator has raised more than two-thirds of his crowdfunding target as he builds capital to accelerate development.
York-based pollination and insect biodiversity specialist, AgriSound, is the brainchild of Casey Woodward. The founder and chief executive has hit £200,000 within days of the novel financing approach beginning, as he looks to scale up a commercial team and further the flagship product, Polly.
Described as a ground-breaking bio-acoustic listening device, it helps increase crop yields more naturally and reduce pesticides. It has already caught the attention of supermarkets including M&S and Tesco, business such as Innocent Drinks, and numerous commercial food producers and farmers.
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Mr Woodward, said: “The whole team is over the moon to see how far we’ve come with funding so quickly. Horticulture is a growing market, expected to reach $40 billion by 2026 through the increased use of tech to address productivity challenges and investing in AgriSound in a great way for organisations to align with ESG expectations.
“We’re positive we can push the rest of the way to reach our crowdfunding goal necessary to onboard new commercial hires, improve manufacturing and support, and further develop our Polly device.”
He told how pollination is one of the most important natural processes on the planet and is essential for more than 75 per cent of food production. Bees are vital pollinators to many fruit crops and provide £375 billion of economic value; however, the bee population continues to decline.
He said that in the UK, research now shows that poor pollination costs up to £5,000 per hectare in lost yield and quality.
The AgriSound device is an automated, scalable, low-cost listening device that monitors bee levels within a field. Solar-powered, insights are displayed via a web app and can be used to take targeted action to boost crop yields and protect bee populations.
Mr Woodward said: “The monitoring device is a game-changer for farmers and food producers, giving them the tools to manage their crop yield naturally, with real-time, measurable data for the first time.”
Polly launched in January, with 800 units committed for the first season. To date research and development has been funded through grants and private investment, with the company’s first patent filed for in July.
Mr Woodward said demand is increasingly escalating with interest,from more than 35 organisations wanting to deploy Polly, as well as listen out for other animals and insect types.
The business operates with a software as a service model with a monthly fee charged per device. It aims to hit its £300,000 crowdfunding goal by Christmas to allow the strategy to kick on in the new year.
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