BinSentry’s livestock feed storage bins are equipped with AI-powered software and solar-powered sensors to help farmers and feed mills cut feed waste and improve worker productivity and safety.
BinSentry monitors over 40,000 feed bins for dozens of suppliers and food processors in North America and Brazil, including Cargill and Maple Leaf Foods. New York-based Lead Edge Capital led its $50 million Series C round.
The funding follows a $15 million round last year, led by Spring Mountain Capital, with some additional debt financing.
Streamlining operations
Geopolitical tensions are disrupting agricultural trade flows, raising prices and shrinking margins for the $400 billion animal feed market.
“We’ve been closely monitoring parts of the agriculture supply chain that have historically been underserved by software, in anticipation of large agricultural companies needing better tools for cost savings, forecasting and operational efficiency,” said Lead Edge’s Aaron Darr.
BinSentry earlier this year made Cargill the exclusive distributor of BinSentry’s animal feed inventory system in Brazil.
