iRancho's is an AgriTech platform that offers the ability to collect and analyze animal traceability and corral management data. "This enables farmers to have more precise control over their livestock, leading to increased productivity and cost savings," iRancho emphasized. It's currently used in more than 3,500 rural properties in Brazil and abroad.
The startup recently raised USD $1.4M from Banco do Brasil. This investment was made through the corporate venture capital fund BB Ventures, managed by MSW Capital. The financial support aims to revolutionize the livestock sector and promote sustainable livestock management in Brazil, the company stated.
Banco do Brasil has reiterated its ongoing commitment to support the Brazilian agricultural and livestock sector. Luiz Gustavo Braz Lage, Vice President of Agribusiness at the bank, emphasized that the financial institution strives to promote solutions throughout the agri-food chain. Additionally, Banco do Brasil takes into account ESG (Environmental, Social, and Governance) practices to contribute to the sustainable transformation of agriculture through technology.
The investment in iRancho aligns perfectly with this vision as it seeks to modernize the livestock industry, enhance production efficiency, and promote sustainable and environmentally responsible agricultural practices.