Capital to Support Commercialization and Ongoing R&D
Engages Checkmate Capital Group as Strategic Advisor
PASADENA, Calif. and DALLAS, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Precision Livestock Technologies, Inc. (“PLT”), a leading provider of artificial intelligence-based software and hardware solutions related to livestock feeding and health, today announced the closing of an approximately $1 million preferred equity financing, co-led by MLJ Fund 1, LP of College Station, Texas, and Checkmate Capital Group of Pasadena, California.
PLT has developed a software and hardware-based monitoring platform focused on improving livestock feeding, performance tracking, logistics and health operations at cattle feedlots. PLT’s platform provides decision support for the key drivers of feedlot profitability while increasing quality, reducing reliance on scarce skilled labor, and expediting the identification of sick animals. With proceeds from the current financing, PLT will expand the performance and capabilities of its platform, accelerate market penetration with feedlots across North America and explore existing opportunities in South America and the Asia-Pacific region.
“We are thrilled to close this round of essential capital, enabling PLT to expand its leadership position in an industry traditionally underserved by the latest technologies. PLT’s data-driven systems augment livestock operations by adding cutting edge machine learning and 24/7 analytics to livestock management,” said Andrew McKenzie, CEO of Precision Livestock Technologies. “Pilot and commercial-stage deployments of PLT systems are already generating meaningful financial results and enhancing feedlot operations. We are delighted with our level of customer satisfaction and excited to continue to expand our capabilities and our footprint,” added McKenzie.
“Checkmate Capital is pleased to co-lead this important financing round for PLT. PLT has assembled a world-class team combining leaders in artificial intelligence with experienced operators and animal health specialists in the livestock industry,” commented Tom Paschall, CEO of Checkmate Capital Group. “They have already developed an effective AI-driven platform, which we have seen translate quantitative analysis of herd behavior into superior on-the-ground decision-making by feedlot operators. We look forward to additional near-term customer wins and expansion of deployments of the PLT system in the marketplace.”
In addition, PLT today announced the engagement of Checkmate Capital Group as its strategic and international advisor.
“We are impressed with Checkmate Capital’s international presence and leadership in the agricultural technology industry and its significant investment in a diverse portfolio of artificial intelligence-based businesses. We look forward to working with Checkmate Capital’s team on strategic initiatives adding substantial value to the PLT mission, particularly in the Asia-Pacific region,” commented McKenzie.
About Precision Livestock Technologies:
Precision Livestock Technologies, Inc. uses artificial intelligence and machine vision to deliver data to livestock producers to boost production, increase quality, and improve animal health. For more information visit www.precision-livestock.com.
About Checkmate Capital Group:
Checkmate Capital is an investment and strategic advisory group managing family office assets with a global commercial and financial network. Checkmate Capital's primary areas of investment are biotechnology, agriculture and waste technology, energy technology, and other diversified technologies. Our team provides seasoned expertise in our focused industries, leveraging an international group of strategic partners, business talent, and resources. For more information, visit www.checkmatecapital.net.