Australian AgTech company ProAgni today announced that it had secured Series A investment from established regional media entity Grant Broadcasters.
ProAgni was established in 2018 to provide antibiotic free animal feed products that preserve animal health and economic sustainability, while decreasing the environmental and social impacts of farming.
Its cutting-edge feed stock has now been used to feed one million livestock animals in Australia while removing more than one tonne of antibiotics from the food chain.
The significant investment from interests associated with Grant Broadcasters secures a minor stake in the growing Australian AgTech Business. It takes ProAgni’s total capital raised to over AUD 3m.
It comes after ProAgni was shortlisted from 45 world ag-tech businesses for the prestigious Rabobank foodbytes event.
CEO of ProAgni, Lachlan Campbell said, "ProAgni started in 2018 because we wanted to remove in feed antibiotics from the food chain.
“We loaded our first batch of ProTect onto my truck and drove it to Dubbo, New South Wales, Australia (Population 40,000) to a rural supply company.
"Two years later, we have sold more than $4m worth of the product and removed over a tonne of antibiotics from the food system in the process.”
CEO of Grant Broadcasters, Alison Cameron said, “In 1942, Grant Broadcasters started when Walter Grant bought a radio license in Dubbo, New South Wales, Australia, because he thought “this new-fangled radio thing might catch on".
"78 years later, we are one of the largest 100% family owned media companies in Australia.
"One of the reasons we have grown the Grant Broadcasters business is that we are committed to the local communities we serve.
"We saw the same thing in ProAgni. They get farmers because they are farmers.”
ProAgni’s patented “ProTect” range of feed supplements has been shown to maintain animal health and production economics in cattle and sheep without the use of any in feed antibiotics.
ProAgni is also in the late stages of development of long shelf life probiotics that radically reduce induction time to grain and have the potential to significantly reduce methane emissions from cattle and sheep while also improving feed efficiency.
“ProAgni is all about making animal agriculture more sustainable without placing a cost burden on farmers or consumers,” said Mr Campbell.
“This commitment from Grant Broadcasters shows the belief they have in a business and products that support more sustainable production without it costing farmers money.”
For further information contact: ProAgni: Warren Lee, Commercial Director, [email protected]
About Grant Broadcasters
Grant Broadcasters is a family owned and operated company with 48 commercial radio stations across regional Australia. Grant Broadcasters operates in a total of 27 regional markets across NT, QLD, NSW, VIC, SA and TAS. Though we have grown substantially since that first local station in Dubbo back in 1942, we’ve never lost our commitment to creating great local content for the communities we serve. We see our commitment to localism as the key advantage that enables us to compete successfully in an increasingly disrupted media world. Our approach to localism means we invest in local personalities, local journalists, local management and staff, and form partnerships that bring the best out in both our local communities and our radio stations.
About ProAgni Australia Pty Ltd
ProAgni is an Australian Ag/Bioscience company committed to developing products that decrease the environmental footprint of food production without increasing the cost of that production or the cost to producers. ProAgni set out to solve the biggest sustainability issues facing the meat industry; antibiotic use & greenhouse gas emissions. Inspired by the feed efficiency of kangaroos, ProAgni has developed a way to support the gut microbiome of ruminants so the methane never leaves the animal, putting the right bugs in the right places at the right time. ProAgni is working with manufacturers across Australia and has trial projects in the Asia-Pacific region and the US.