Labby’s AI-enabled Optical Sensing Technology Secures USD $480,000 Seed Investment
Julia • November 18, 2020
Labby Inc
, an early-stage startup specializing in AI-enabled optical sensing solutions for raw milk testing, today announced it has raised $480,000 in seed funding.
AgriTech Capital
,
a strategy and investment firm specializing in innovation and technology in the agribusiness sector.
The global dairy farming industry loses
$32 billion annually
due to mastitis infections. At a minimum, twenty-five percent of cows each year are impacted regardless of how well managed a farm is. Farmers lack a way to quickly and easily identify mastitis at an early stage so they can take preventative measures to reduce the impact on yields. With Labby’s solution, farmers and dairy processors finally have a way to quickly and easily test raw milk gaining visibility into animal health, milk quality, and feed efficiency, enabling them to optimize their operations.
This is the first seed round for the company and the financing will help with the development of Labby’s products, including the next generation of its handheld solution and in-line sensing integration unit. A handful of dairy farms in North America will start piloting the technology before the end of the year. In addition, Labby will use the funds to build out its operations and expand the team.
Labby participated in the Techstars Lisbon Accelerator in 2020 and Dairy Farmers of America innovation program in 2019 and was a MassChallenge finalist in 2018. The two co-founders are MIT alumni from the Media Lab and the System Design & Management program.
Labby participated in the Techstars Lisbon Accelerator in 2020 and Dairy Farmers of America innovation program in 2019 and was a MassChallenge finalist in 2018. The two co-founders are MIT alumni from the Media Lab and the System Design & Management program.
Quotes and Commentary
“Over the last decade, farming has undergone a technology transformation; however, when it comes to milk testing, little has changed, and the process remains slow, inefficient, and cost-prohibitive. Farmers lack the information they need to keep the herd healthy and maximize milk yields. Our practical solution provides rapid, affordable, and laboratory-grade milk testing in real-time. Now every dairy farm can gain visibility into animal health, milk quality, and feed efficiency, enabling them to optimize their operations."
Julia Somerdin, Co-Founder & CEO, Labby
“Labby is leading a revolution in milk mining, bringing insights into the known unknowns of dairy, and as a result, supporting more sustainable farming. That’s why we are excited to join the Labby journey.’" Aidan Connolly, President, AgriTech Capital “Dairy farmers need intelligent solutions that deliver actionable insights. Labby’s innovative solution holds the opportunity to transform milk testing and provides farmers with the data to make informed decisions that help optimize yields, keep animals healthy, and reduce costs.” Jamie Zimmerman, Dairy One’s CEO & General Manager
“Labby is leading a revolution in milk mining, bringing insights into the known unknowns of dairy, and as a result, supporting more sustainable farming. That’s why we are excited to join the Labby journey.’" Aidan Connolly, President, AgriTech Capital “Dairy farmers need intelligent solutions that deliver actionable insights. Labby’s innovative solution holds the opportunity to transform milk testing and provides farmers with the data to make informed decisions that help optimize yields, keep animals healthy, and reduce costs.” Jamie Zimmerman, Dairy One’s CEO & General Manager
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