Tracxn - Livestock Startup Landscape

Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Livestock - Dec 2018
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on December 27, 2018.
Livestock Feed Summary
4
Livestock > Feed Summary
Companies leveraging technology and/or innovative business models for increasing production and processing
efficiency, and conglomerates operating across the value chain of dairy and meat industry
• Inclusions: 1. Companies offering tech solutions for
livestock production, farm monitoring & management, and
processing2. Companies developing advanced essential
consumables such as feed additives and vet products3.
Companies providing tech-enabled financial services and
products to livestock agribusinesses4. Livestock business
conglomerates operating across the livestock value chain
• Exclusions: 1.Companies which offer sector agnostic
products or solutions2. Companies with traditional
businesses which do not leverage modern technology to
develop products or solutions
• Excludes funding information of Chinese companies
Feed in Numbers
Overview
$1.9B
Funding
115
Mega
Companies
4091865
FundedCovered on
Tracxn
1
Unicorns
1
Soonicorns
4
Minicorns
94
IPO’d Cos
112
Late Stage Cos
60
118
Acquisitions
59
DeadPooled
-
Acquihired
Series A+ Cos
Danone
(1919, Paris)
Zoetis
(2012, Brussels)
Tyson Foods
(1935, Springdale)
Top Companies

Investment Trend Summary
Summary of Funding Activity in Livestock
5
$50M - PE
Dodla Dairy (1998, Hyderabad, $69.9M)
$20M - PE
Overhill Farms (1968, Los Angeles, $20M)
$40M - Series D
Calysta (2011, Menlo Park, $88M)
$14M - Series B
Stellapps Technologies (2011, Bangalore,
$17.3M)
$25M - Series D
Licious (2015, Bangalore, $63.8M)
$10.3M - Series B
$25M - Series C
$10.2M - Series A
AgriWebb (2013, Sydney, $16.4M)
$22.7M - PE
ABP Food Group (1994, Ardee, $22.7M)
$3.1M - Seed
ZappFresh (2015, Delhi, $4.1M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
Livestock > Feed Summary > Investment Trend Summary
Seed High-Tech Grunderfonds (#2), 3one4 (#1), NZVIF (#1)
Series A/B Desjardins – Innovatech (#2), Avrio Capital (#1), NZVIF (#1)
Series C+
ATP Private Equity Partners (#2), Unigrains (#1), Eight Roads
Ventures (#1)
Incubators MassChallenge (#6), 500 Startups (#3), Techstars (#3)
Other Notable
Investors
Wheatsheaf (#5), B I R A (#4), Bpifrance (#2)
Debt Investors Tikehau Capital (#4), PMV (#2), Sinergi Burkhina (#2)
Most Active InvestorsRecent Investments
83
90
109 113
64
36
2013 2014 2015 2016 2017 2018*
Y-o-Y # of Companies Founded 23 27 32 40 45 35
$724M
$572M
$356M
$83.9M
$26.7M
Europe
US
India
Canada
New
Zealand
$ Funding
$214M
$285M
$344M
$121M
$187M
$148M
2013 2014 2015 2016 2017 2018*
$ Funding # Rounds

Summary of exit outlook in Livestock
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Oaktree Capital
Management
2
AdvancePierre Foods (1946, Cincinnati, $95M)
Campofrio Food Group (2008, Alcobendas)
3i Group 1 Phibro Animal Health (1946, Teaneck)
Arbor Investments 1 Columbus Craft Meats (1917, San Francisco)
ATP Private Equity
Partners
1 Columbus Craft Meats (1917, San Francisco)
Black River Asset
Management
1 Dodla Dairy (1998, Hyderabad, $69.9M)
Aug 2018 Keystone Foods Acq by Tyson Foods for $2.2B
Sep 2017 Bob Evans Farms Acq by POST HOLDINGS for $1.5B
Apr 2017 AdvancePierre Foods Acq by Tyson Foods for $4.2B
Jul 2014 Hillshire Brands Acq by Tyson Foods for $8.6B
Oct 2013
Vion Food Group Acq by Darling Ingredients for
$2.2B
May 2013
Smithfield Foods Acq by Shuanghui International for
$4.7B
Livestock > Feed Summary > Exit Outlook Summary
Hormel Foods 6
Columbus Craft Meats (Nov 2017, $850M), Applegate (May
2015, $775M), Fontanini Meats (Aug 2017, $425M)
Tyson Foods 3
AdvancePierre Foods (Apr 2017, $4.2B), Keystone Foods
(Aug 2018, $2.2B), Wright Brand (Jun 2001)
Land OLakes 3
Purina Mills (Jun 2001, $230M), Alpine Lace (Oct 1997, $62M),
Vermont Creamery (Mar 2017)
Datamars 3
TruTest NorthAmerica (Oct 2018), Temple Tag (Aug 2012),
Zee Tags (Oct 2014)
Allflex 3
SCR Engineers (Dec 2014, $250M), Destron Fearing (May
2011, $25M), Agrident (Aug 2018)
Recent IPOs Top Acquisitions
Synlait Nov 2016
Dairy processing and specialty milk produ…
IPO MCap: -
AdvancePierre Foods Jul 2016
Convenience food product supplier to food…
IPO MCap: $1.7B
ForFarmers May 2016
Manufacturer and supplier of feed for liv…
IPO MCap: -
Wellard Oct 2015
Procures and supplies livestock and meat
IPO MCap: $407M
Octopus Robots Mar 2018
Develops mobile robots for the agricultur…
IPO MCap: -
Godrej Agrovet Oct 2017
Manufacturer and supplier of agriculture…
IPO MCap: $1.4B
Jeil Holdings Jun 2017
Produces, processes and supplies animal f…
IPO MCap: -
Parag Milk Foods May 2017
Manufacturer and supplier of dairy produc…
IPO MCap: -

FACTSHEET
Overview
Companies 1865
Funded 409 Series A+ 112
Funding $1.9B Last 2 yrs $335M
Most Active Investors
Seed High-Tech Grunderfonds (2)
Series A/B Desjardins – Innovatech (2)
Series C+ ATP Private Equity Partners (2)
Others Wheatsheaf (5)
Incubators MassChallenge (6)
Top Cities
Vannes 2 Cos $236M
Modena 2 Cos $205M
Feed in Numbers
Unicorns 1 Soonicorns 1
Minicorns 4 Editor Picks 47
Acquihired - Deadpooled 59
Top Companies
Tyson Foods (1935, Springdale)
Danone (1919, Paris)
Zoetis (2012, Brussels)
Exits
IPOs 94 AdvancePierre Foods,
Godrej Agrovet
Acquisitions 118 Hillshire Brands, Smithfield
Foods
Top Acquirers Hormel Foods, Tyson Foods
Marketmap: Livestock
PROCESSING & PRODUCE ENABLERS
PROCESSING MACHINERY
TRACEABILITY &
MONITORING SOLUTION*
FARM ENABLERS
MONITORING & MGMT. OPERATIONAL EFFICIENCY
FARM INPUTS
NUTRITION
FEED
FEED ADDITIVES
VET PRODUCTS
PRODUCERS & PROCESSORS
MEAT & EGG
POULTRY
RED MEAT
DAIRY
INPUT COMMERCE
PRODUCE COMMERCE
E-COMMERCE
MEAT
OFFLINE DISTRIBUTORS
For any Feedback and Query reach out to MyAnalyst@tracxn.com
* Upcoming Business Model
Funding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.7 Feed Report - Livestock - Dec 2018
Livestock > Feed Summary > BlueBox

Key Sub Sectors in Livestock Sector
Summary of Key Markets
8
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Produce Supply Chain > Digital Market
Linkage > Meat Products > B2C >
E-Distributor
12 $64.8M 6
Farm Monitoring & Management > Farm
Data & Analytics >
Integrated
98 $41.9M 14
Farm Monitoring & Management >
Farm Management Solutions 194 $24.5M 13
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Operations
Companies engaged in breeding, rearing, processing,
and marketing of livestock commodities...
629 147 $886M
Farm Consumables
Companies developing consumable products for
livestock farms such as feed, feed additives...
401 101 $583M
Farm Monitoring & Management
Companies leveraging technology to bring efficiency in
the planning and operations of...
361 78 $211M
Produce Supply Chain
Companies offering supply chain platforms for farmers
to market their livestock farm...
108 25 $94.8M
Farm Infrastructure
Companies developing infrastructure and components
for livestock farming including products...
102 24 $71.2M
Processing & Packaging Solutions
Companies developing equipment and other solution
for processing and packaging of livestock...
209 17 $48.3M
Inputs Supply Chain
Companies offering supply chain platforms for farmers
to procure farm inputs for their...
54 16 $5.4M
Livestock > Feed Summary > Summary of Key Markets

List of Notable Companies in Livestock
Notable Companies in the Sector (1/3)
9
Note: *(Founded Year, Location, Total Funding)
Livestock > Feed Summary > Notable Companies in the Sector
Public
Godrej Agrovet
(1992, Mumbai, $92.7M)*
Phibro Animal Health
(1946, Teaneck)
Wellard
(1980, Fremantle)
Beston Global Food
(2014, Adelaide)
Gene BioTech
(2000, Gyeongju)
Eco Animal Health
(1972, Malden, $3.4M)
Australian Dairy Farms
Group
(1992, Brisbane)
Lee Feed Mill
(1983, Bangkok)
Dodla Dairy
(1998, Hyderabad, $69.9M)
Wynnstay
(1917, Shrewsbury, $22.6M)
Public
Synlait
(2000, Rakaia, $22.1M)
Parag Milk Foods
(1992, Pune, $16.7M)
JBS
(1953, Sao Paulo)
Tyson Foods
(1935, Springdale)
Avivagen
(2005, Ottawa)
Danone
(1919, Paris)
Sanderson Farms
(1947, Laurel)
The a2 Milk Company
(2000, Auckland)
Zoetis
(2012, Brussels)
CBH
(2003, Johannesburg)
Public
Dairy Crest
(1987, Esher)
ForFarmers
(1899, Lochem)
ImmuCell
(1982, Portland)
John Bean Technologies
(1894, Chicago)
Lay Hong
(1994, Klang)
LDC Group
(1968, St Laurent Des Arbres)
LTKM Berhad
(1997, Klang)
Marfrig Global Foods
(2000, Sao Paulo)
PWF Consolidated
Berhad
(1997, Bukit Mertajam)
Quantum Foods
(2013, Cape Town)
Public
Sierad Produce
(1985, Jakarta)
Virbac
(1968, Carros)
Amatheon Agri
(2013, Berlin)
Anpario
(1997, Worksop)
Astral Foods
(2001, Sandton)
Bachoco
(1952, Celaya)
Bell Food Group
(1869, Basel)
Belor
(1970, Irkutsk)
BRF
(1934, Itajai)
Chew's Agriculture
(1987, Singapore)
Public
China Dairy
(1979, Singapore)
Conagra
(1919, Chicago)
Daesung
Microbiological Lab
(1966, Seoul)
Dbe Gurney Resources
(1986, Sitiawan)
Farm's Best food
Industries
(1989, Rawang)
Formosa Oilseed
Processing
(1986, Taichung)
Hormel Foods
(1891, Austin)
Huat Lai
(1994, Merlimau)
Humatech
(1988, Houston)

10
Public
Indykpol
(1991, Olsztyn)
Jaguar Health
(2013, San Francisco)
Koryo Industry
(1957, Busan)
Kreka
(1971, Kavala)
Lala
(1985, Torreon)
Malindo Feedmill
(1997, Jakarta)
Merit Biotech
(2007, Taipei)
Nichiwa Sangyo
(1924, Kobe)
Octopus Robots
(1987, Cholet)
PeterLabs
(2002, Nilai)
Public
Pilgrim's
(1946, Greeley)
Rational
(1976, Landsberg Am Lech)
Ross Industries
(1970, Bealeton)
TPC
(1978, Alor Gajah)
Viscofan
(1975, Aranguren)
Wingara
(1984, Kew)
Zemaitijos Pienas
(1924, Telsiai)
Aksha Corporation
(1962, Kagoshima)
Ceapro
(1997, Edmonton)
Farmsco
(1999, Yongin)
Public
Jeil Holdings
(1962, Gangnam)
KC Feeds
(1999, Pohang)
Livestock Feeds
(1963, Ikeja)
Nippon Formula Feed
Manufacturing
company
(1929, Kanagawa)
Shin Tai Industry
(1989, Kaohsiung City)
Wayne Farms
(1965, Gainesville)
Woosung
(1968, Daejeon)
Amrit Corp
(1940, Delhi)
Campofrio Food Group
(2008, Alcobendas)
Public
CCK Consolidated
Holdings Berhad
(1996, Kuching)
Easy Bio
(1988, Seoul)
Feed One
(2014, Yokohama)
Hind Industries
(1990, Delhi)
Japfa Comfeed
(1971, Jakarta)
Marel
(1996, Reykjavik)
Ridley
(1987, Melbourne)
Sealed Air
(1960, Charlotte)
Simran Farms
(1984, Indore)
SKM Egg Products
(1995, Erode)
Public
Teo Seng Capital
Berhad
(2006, Johor Bahru)
Venky's India
(1971, Pune)

11
Acquired
Hillshire Brands
(1939, Chicago)
Smithfield Foods
(1936, Smithfield)
AdvancePierre Foods
(1946, Cincinnati, $95M)
Vion Food Group
(1934, Eindhoven)
Keystone Foods
(1956, West Chester)
Bob Evans Farms
(1946, Rio Grande City)
Allflex
(1972, Dallas, $106M)
Moy Park
(1943, Craigavon)
National Beef
(1992, Kansas City)
Tnuva
(1926, Tel Aviv)
Acquired
Columbus Craft Meats
(1917, San Francisco)
Applegate
(1987, Bridgewater)
Omega Protein
(1913, Houston)
Fontanini Meats
(1960, Cicero)
Gold Coin Group
(1953, Singapore)
Central Pastoral
Company
(1983, Brisbane)
SCR Engineers
(1976, Netanya)
Plumrose USA
(1932, Downers Grove)
Purina Mills
(1894, St. Louis)
Bovamine
(2010, Hoersholm)
Acquired
Inalca
(1963, Modena, $205M)
Embrex
(1985, Durham)
Farmer John
(1931, Los Angeles)
Burke
(1974, Nevada)
Unicorns
Neovia Group
(1954, Vannes, $236M)

List of Notable Companies by Market in Livestock
Notable Companies by Market (1/11)
13
Livestock > Feed Summary > Notable Companies by Market
Farm Consumables
Feed
Neovia Group (1954, Vannes, $236M)
Develops and manufactures feeds and nutrition
supplements
Unicorn. Stage: Funded
Eurazeo, Unigrains, CDC International Capital and 1
Other Investors
Godrej Agrovet (1992, Mumbai, $92.7M)
Manufacturer and supplier of agriculture input
products
Stage: Public
Temasek
Wynnstay (1917, Shrewsbury, $22.6M)
Vertically integrated business for supplying cereal
seeds, animal feeds, and pet feeds in the UK
Stage: Public
ForFarmers (1899, Lochem)
Manufacturer and supplier of feed for livestock
animals
Stage: Public
Quest for Growth
Feed
Formosa Oilseed Processing (1986,
Taichung)
Produces and supplies animal feed products
Stage: Public
Gold Coin Group (1953, Singapore)
Manufactures and supplies animal feed products
Stage: Acquired
Koryo Industry (1957, Busan)
Manufactures and markets livestock feed
Stage: Public
Nichiwa Sangyo (1924, Kobe)
and livestock equipment
Stage: Public
Wingara (1984, Kew)
Processor and marketer of agricultural products
Stage: Public
3C Capital
Feed
Farmsco (1999, Yongin)
Manufacturer and supply animal feed
Stage: Public
JKL Partners
Jeil Holdings (1962, Gangnam)
Produces, processes and supplies animal feed
products
Stage: Public
KC Feeds (1999, Pohang)
Manufacturer and supplier of animal feeds
Stage: Public
Lee Feed Mill (1983, Bangkok)
Producer and seller of animal feed
Stage: Public
Livestock Feeds (1963, Ikeja)
Stage: Acquired
Shin Tai Industry (1989, Kaohsiung City)
Manufacturer and supplier of animal feed
Stage: Public

14
Farm Consumables
Feed
Woosung (1968, Daejeon)
Producer and supplier of animal feeds
Stage: Public
Feed One (2014, Yokohama)
Manufactures and markets feeds for livestock and
fisheries
Stage: Public
Japfa Comfeed (1971, Jakarta)
Production of animal feeds
Stage: Public
KKR
Purina Mills (1894, St. Louis)
Manufacturer of Animal Feed Products
Stage: Acquired
Ridley (1987, Melbourne)
Manufacturing and supply of feed and feed
ingredients for livestock industry in Australia
Stage: Public
Feed Additives
Eco Animal Health (1972, Malden, $3.4M)
Animal health products manufacturer and supplier
Stage: Public
Avivagen (2005, Ottawa)
Development and marketing of livestock animal
feed additives
Editor's Pick. Stage: Public
Manufacturer and supplier of medicines, vaccines,
and diagnostic products for animals
ImmuCell (1982, Portland)
Manufacturer and supplier of products to improve
health and productivity of dairy & beef cattle
Stage: Public
TD Bank
Virbac (1968, Carros)
Manufacturer and supplier of animal health
products
Stage: Acquired
Feed Additives
Anpario (1997, Worksop)
Development, manufacturing, and supply of feed
additives for livestock and aquaculture
Stage: Public
Bovamine (2010, Hoersholm)
Probiotics for livestock animals
Stage: Acquired
Salem Halifax Capital Partners
Daesung Microbiological Lab (1966, Seoul)
Manufacturer and supplier of vaccines and
medicines for livestock animals
Stage: Public
Embrex (1985, Durham)
Manufacturer and supplier of biological and
mechanical products for the livestock animals
Stage: Acquired
Domain Associates

15
Farm Consumables
Feed Additives
Gene BioTech (2000, Gyeongju)
Development, manufacturing, and marketing of
biological feed additives and veterinary medicines
for livestock animals
Stage: Public
Yuanta Investment
Humatech (1988, Houston)
Manufacturer and supplier of humic and fulvic acids
for animal feed and crop fertilizer
Stage: Public
Jaguar Health (2013, San Francisco)
Developing gastrointestinal products for human
prescription use and animals
Stage: Public
Sagard Holdings
Merit Biotech (2007, Taipei)
Manufactures and distributes animal healthcare
products
Stage: Public
Feed Additives
Omega Protein (1913, Houston)
Biopharma company manufacturing and marketing
nutritional products
Stage: Acquired
PeterLabs (2002, Nilai)
Manufactures and distributes animal health and
nutrition products
Stage: Public
Phibro Animal Health (1946, Teaneck)
Develops animal health and performance products
Stage: Public
3i Group
Ceapro (1997, Edmonton)
Production of active ingredients using plants as a
feedstock for human and animal consumption
Stage: Public
GCCIR, AVAC Group
Feed Additives
Easy Bio (1988, Seoul)
Manufactures and markets biological feed additives
for livestock animals
Stage: Public
Korea Investment Partners

16
Farm Infrastructure
Farm Operations
Octopus Robots (1987, Cholet)
Develops mobile robots for the agricultural and
animal husbandry industy
Stage: Public
Farm Data & Analytics
Allflex (1972, Dallas, $106M)
Manufactures products for livestock identification
Stage: Acquired
Epiris, Electra Private Equity
SCR Engineers (1976, Netanya)
Livestock monitoring, data collection and analytics
Stage: Acquired
Tene Investment Funds
Operations
Dairy
Manufactures and distributes processed dairy
goods
Stage: Public
TPG, The Rise Fund, IFC and 2 Other Investors
Synlait (2000, Rakaia, $22.1M)
Dairy processing and specialty milk products
Stage: Acquired
Bright Dairy & Food
Parag Milk Foods (1992, Pune, $16.7M)
Manufacturer and supplier of dairy products
Stage: Public
IDFC, Motilal Oswal Financial Services
Multi category manufacturer and brand of food
products
Editor's Pick. Stage: Acquired
Capital Group, Sofina

17
Operations
Dairy
The a2 Milk Company (2000, Auckland)
Integrated company in the farming, processing, and
supply of milk
Cure Kids Ventures
Dairy Crest (1987, Esher)
Integrated business for sourcing and processing of
milk for the supply of consumer products in the UK
Stage: Public
Royal London Asset Management
Australian Dairy Farms Group (1992,
Brisbane)
Vertically integrated company in farming,
processing, and marketing of dairy products
Stage: Public
China Dairy (1979, Singapore)
Integrated company in dairy cattle farming and milk
production
Stage: Public
Dairy
Lala (1985, Torreon)
Produces and markets dairy products
Stage: Public
TPC (1978, Alor Gajah)
Owns and operates poultry farming business
Stage: Public
Zemaitijos Pienas (1924, Telsiai)
Manufactures and markets dairy products
Stage: Public
Central Pastoral Company (1983, Brisbane)
Integrated cattle farming business in Australia
Stage: Acquired
Amrit Corp (1940, Delhi)
Agribusiness with interests in dairy, BPO and real
estate
Stage: Public
Tnuva (1926, Tel Aviv)
Marketing cooperative of dairy farmers
Stage: Acquired
Apax Partners
Meat & Egg
Inalca (1963, Modena, $205M)
Beef production and processing company in Italy
Stage: Acquired
Qatar Investment Fund
AdvancePierre Foods (1946, Cincinnati,
$95M)
Convenience food product supplier to food
establishments
Stage: Acquired
Oaktree Capital Management
JBS (1953, Sao Paulo)
Fully integrated company in rearing, breeding,
processing, and marketing of chicken, beef and pork
products
processing, and marketing of chicken, beef and pork
products

18
Operations
Meat & Egg
Sanderson Farms (1947, Laurel)
Manufacturer and retailer of fresh and frozen
chicken products.
Peter J Solomon Company
CBH (2003, Johannesburg)
Production and marketing of poultry products and
animal feed
Stage: Public
Lay Hong (1994, Klang)
Integrated company in rearing & breeding,
processing, and supply of poultry egg and meat
products
Stage: Public
LDC Group (1968, St Laurent Des Arbres)
processing, and supply of meat products and eggs
Stage: Public
Meat & Egg
LTKM Berhad (1997, Klang)
Integrated company in rearing, processing, and
supply of poultry egg
Stage: Public
Marfrig Global Foods (2000, Sao Paulo)
Vertically integrated company in processing and
supply of meat products
Stage: Public
Moy Park (1943, Craigavon)
Fully integrated company in rearing, processing,
and supply of poultry products
Stage: Acquired
Plumrose USA (1932, Downers Grove)
Processor and supplier of value-added meat
products
Stage: Acquired
PWF Consolidated Berhad (1997, Bukit
Mertajam)
Integrated business for poultry farming, animal
feed milling, and grain processing
Stage: Public
Meat & Egg
Quantum Foods (2013, Cape Town)
Integrated company in poultry rearing and
production of animal feed
Stage: Public
Zeder
Sierad Produce (1985, Jakarta)
Integrated company in feed production and
breeding, processing, & supply of poultry products
Stage: Public
Smithfield Foods (1936, Smithfield)
Fully integrated company in hog breeding &
rearing, processing and supply of hog meat
products
Stage: Acquired
Amatheon Agri (2013, Berlin)
Manages complete value chain of field crops and
livestock animals
Stage: Public

19
Operations
Meat & Egg
Applegate (1987, Bridgewater)
Processor and supplier of natural & organic meat
products
Stage: Acquired
Swander Pace Capital
Astral Foods (2001, Sandton)
Integrated company in poultry breeding, animal
feed, value-added poultry products
Stage: Public
Bachoco (1952, Celaya)
Fully integrated company in breeding, rearing,
processing and supply of poultry products
Stage: Public
Bell Food Group (1869, Basel)
products
Stage: Public
Bob Evans Farms (1946, Rio Grande City)
Restaurant chain and processed pork products
manufacturer & supplier based in USA
Stage: Acquired
Meat & Egg
BRF (1934, Itajai)
Integrated company in processing and supply of
value added meat products
Stage: Public
Burke (1974, Nevada)
Manufacturer and supplier of fully cooked meat
products & pizza toppings
Stage: Acquired
Chew's Agriculture (1987, Singapore)
Produces and supplies eggs
Stage: Public
Columbus Craft Meats (1917, San Francisco)
products
Stage: Acquired
ATP Private Equity Partners, Arbor Investments,
Endeavour Capital
Meat & Egg
Conagra (1919, Chicago)
Vertically integrated company in manufacturing
and supply of value-added meat and food products
Stage: Public
Uni-World Capital
Dbe Gurney Resources (1986, Sitiawan)
Manufactures and supplies chicken products
Stage: Public
Farmer John (1931, Los Angeles)
Brand of meat products
Stage: Acquired
Farm's Best food Industries (1989, Rawang)
Produces and markets poultry products
Stage: Public
Fontanini Meats (1960, Cicero)
products
Stage: Acquired

20
Operations
Meat & Egg
Hillshire Brands (1939, Chicago)
Manufacturer and supplier of value-added meat
products
Stage: Acquired
ValueAct Capital
Hormel Foods (1891, Austin)
Manufacturer and supplier of food products
Stage: Acquired
Huat Lai (1994, Merlimau)
Produces and supplies eggs and poultry products
Stage: Public
Indykpol (1991, Olsztyn)
Fully integrated company in breeding, rearing,
processing, and supply of turkey meat products
Stage: Public
Keystone Foods (1956, West Chester)
processing, and supply of meat products
Stage: Acquired
Meat & Egg
Kreka (1971, Kavala)
Production and supply of meat products
Stage: Public
Malindo Feedmill (1997, Jakarta)
Fully integrated company in poultry breeding and
production of animal feed & value-added products
Stage: Public
CIMB Niaga, Bank Central Asia
National Beef (1992, Kansas City)
Fully integrated company in processing and supply
of processed beef products
Stage: Acquired
Us Premium Beef
Pilgrim's (1946, Greeley)
Fully integrated company in poultry(broiler)
farming, feed production, processing and supply of
poultry meat products
Stage: Public
Meat & Egg
Vion Food Group (1934, Eindhoven)
supply of fresh and value-added beef and pork meat
products
Stage: Acquired
Aksha Corporation (1962, Kagoshima)
Stage: Public
Nippon Formula Feed Manufacturing
company (1929, Kanagawa)
Integrated company in production & sale of fish,
hatching eggs, and animal feed
Stage: Public
Wayne Farms (1965, Gainesville)
supply of poultry meat products
Stage: Public

21
Operations
Meat & Egg
Producer, wholesaler and supplier of meat and
meat products based in Spain.
Stage: Public
Oaktree Capital Management
CCK Consolidated Holdings Berhad (1996,
Kuching)
Production and supply of poultry products
Stage: Public
Hind Industries (1990, Delhi)
Production of meat and meat based products
Stage: Public
Simran Farms (1984, Indore)
Engaged in integrated poultry and poultry products
Stage: Public
SKM Egg Products (1995, Erode)
Integrated poultry farming and egg processing firm
in India
Stage: Public
Meat & Egg
Teo Seng Capital Berhad (2006, Johor Bahru)
Poultry farming and production of eggs
Stage: Public
Venky's India (1971, Pune)
Manufacturer of processed and frozen poultry
products.
Stage: Public
Diversified
Belor (1970, Irkutsk)
Integrated company in rearing, processing, and
supply of meat & dairy products
Stage: Public
Beston Global Food (2014, Adelaide)
Integrated company in the production, distribution,
and export of food products
Stage: Public

22
Multi-Category
Ross Industries (1970, Bealeton)
Manufacturer and supplier of food processing and
packaging machinery
Stage: Public
Marel (1996, Reykjavik)
Manufacturer of meat processing equipment
Stage: Public
Eyrir Invest
Meat Equipment
John Bean Technologies (1894, Chicago)
Designer, manufacturer and supplier of complete
meat processing lines
Stage: Public
Rational (1976, Landsberg Am Lech)
Manufacturer and supplier of meat combi cooking
systems
Stage: Public
Packaging Solutions
Viscofan (1975, Aranguren)
Manufacturer and supplier of artificial casings for
meat products
Stage: Public
Sealed Air (1960, Charlotte)
Develops packaging solution to increase shelf life of
Consumer Packaged goods
Stage: Public

23
Digital Market Linkage
Online platform for delivery of meat and seafood
Soonicorn. Stage: Series D
Nichirei, 3one4, Bertelsmann India Investments
and 22 Other Investors
Offline Market Linkage
Wellard (1980, Fremantle)
Stage: Public

List of Notable Companies in Livestock in China
Notable Companies in the Sector in China
24
Livestock > Feed Summary > Notable Companies in the Sector in China
Public
China Mengniu Dairy
(2004, Hohhot, $790M)
Fujian Sunner
Development
(1999, Nanping, $400M)
Sino Agro Food
(2006, Guangzhou, $450k)
WH Group
(1958, Luohe)
Guangdong HAID Group
(1998, Guangzhou)
Tiankang Biological
(1993, Urumqi)
Agfeed Industries
(1995, Nanchang)
China Purity Foods
(2007, Hong Kong)
Shandong Minhe
Animal Husbandry
(1985, Yantai)
Public
Shenzhen Jin Xinnong
(1999, Shenzhen)
Sichuan Sundaily Farm
Ecological Food
(2003, Mianyang)
Skystar Bio-
Pharmaceutical
(1997, Xian)
Wison International
Holdings
(2008, Hong Kong)
YuanShengTai Dairy
Farm
(2008, Qiqihar)
China Animal
Healthcare
(2010, Beijing)
China Modern
Agricultural
Information
(2005, Harbin)
Public
Henan Huaying
Agricultural
(1991, Zhengzhou)
Tanke International
Group
(1989, Guangzhou)
C P Pokhphand
(1987, Hong Kong)

Recent News in Livestock Sector
Recent News
25
Livestock > Feed Summary > Recent News
Dec 2018
Global Milking Robots Market Size, Share 2018-2023: DeLaval,
Hokofarm, GEA Farm and Lely, Publicist Report
Dec 2018 Mother Dairy launches 'Safal' Organic, Nuffoods Spectrum
Dec 2018
Specialty Feed Additives Market Qualitative Analysis Explosive
Growth by Players 2018-2025: BASF, Evonik Industries, Nutreco,
Novozymes, Alltech, Invivo NSA, Digital Journal
Dec 2018
Taxi company Baxi ties up with two FMCG brands, services to begin
in January, Indiatimes
Dec 2018 Mother Dairy forays into organic food business, Livemint
Dec 2018
U.S. Conagra Foods to expand its meat snack business with $70 mln
pump in, investsize.com
Dec 2018 CP-led group closes in on three-airport rail link deal, Bangkok Post
Dec 2018
More than 164,000 pounds of ground turkey recalled; 52 more
people sick in deadly salmonella outbreak, wtop.com
Dec 2018
Marel - Transactions in relation to a share buy-back program,
GlobeNewswire
Dec 2018 DMK Group Appoints CFO, FD Business Europe
Dec 2018 Madwell Expands To Asia For Danone Business, MediaPost
Dec 2018
Sanderson Farms Inc reports weak 4Q and fiscal 2018 results, but
shares reverse early losses, Proactive Investors
Dec 2018 Conagra Brands Reports Second Quarter Results, PR Newswire
Dec 2018 Mother Dairy set to enter organic biz through Safal, Indiatimes
Key Recent News Key Recent News
Dec 2018
Bell Food Group adjusts corporate structure and plans German
expansion, Food Processing Technology
Dec 2018 Avivagen Announces Proposed Extension of Warrants, CMOCRO
Dec 2018
Brazil’s BRF sells Argentine chicken & margarine producer Avex for
$50 mln, investsize.com
Dec 2018 What to Watch For in Conagra Brands Earnings, Wall
Dec 2018 FrieslandCampina acquires Best Cheese Corporation USA, FoodBev
Dec 2018
InVivo plans new market ventures following Neovia divestment,
Food Processing Technology
Dec 2018
Columbus joins Faction Brewing to create beer-flavoured salami,
FoodBev
Dec 2018 Asia's highest paid CEOs trump US execs in pay rankings, Nikkei
Dec 2018
Richardson International To Acquire A Leading U.s. Cooking Oil
Brand, Wesson®, And Memphis Production Facility, GlobeNewswire
Dec 2018
France’s Danone acquires stake in Yashili New Zealand Dairy for
$218.5 mln, investsize.com
Dec 2018
Shamrock Farms Partners with the Phoenix Suns’ DeAndre Ayton,
BevNET
Dec 2018 FrieslandCampina Introduces First Planet-Proof Milk, ESM Magazine
Dec 2018
IFF acquires three personal care ingredients from Kemin Industries,
Cosmetics Design Europe

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
26
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

Some more Sector Reports you might want to check out
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Online Photos
Nov 2018
Online Grocery
Nov 2018
Mobile Advertising
Nov 2018

Investments ($M) and number of rounds in Livestock; 2011-2018
Global Funding Trends (1/2)
28
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Livestock > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 19% # of Rounds38% $ Funding
28% # of Rounds
13% $ Funding
$27M
$128M
$214M
$285M
$344M
$121M
$187M
$148M
0
5
10
15
20
25
30
35
40
45
50
$0k
$50M
$100M
$150M
$200M
$250M
$300M
$350M
$400M
2011 2012 2013 2014 2015 2016 2017 2018*
$ Funding # Rounds

$989K $7M $3M $3M $6M $9M $18M $17M
$26M
$8M
$88M
$42M $44M
$43M
$57M
$58M
$113M $123M $240M $295M $69M $112M $73M
2011 2012 2013 2014 2015 2016 2017 2018 YTD
Seed Early Stage Late Stage
$27M
$148M
Total $ Invested
4 12 6 8 15 22 24 18
5 4
11
13
8
10
16 13
1 6 6 6 9 8
5
4
2011 2012 2013 2014 2015 2016 2017 2018 YTD
Seed Early Stage Late Stage
10
35
Total # of Rounds
29
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded Club
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Livestock; 2011-2018
Livestock > Investment Trends > Global Funding Trends
18
10
11
16
26
24
17 122
$1.2M
$2M
$0.0M
$1.0M
$2.0M
$3.0M
$4.0M
$5.0M
$6.0M
$7.0M
0
20
40
60
80
100
120
140
2012 2013 2014 2015 2016 2017 2018 YTD Total
Entrants in Funding Club Avg. Ticket Size
$1.2M $6.3M $2M $0.5M $1.4M $1.8M $0.9M $2M
$0K
$93M
$170M
$205M
$259M
$30M
$90M
$73M
0
0.5
1
1.5
2
2.5
3
3.5
0
50000000
100000000
150000000
200000000
250000000
300000000
2011 2012 2013 2014 2015 2016 2017 2018 YTD
$ Funding # of Rounds
Mega Rounds
- 1 3 1 2 1 2 3

Livestock > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Livestock
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Vannes 236M 1
Modena 205M 1
Dallas 118M 3
Mumbai 97.5M 4
Cincinnati 95M 1
Hyderabad 92.9M 5
Bay Area 92.2M 9
Bangalore 81.2M 9
Belgorod 70M 1
Winnipeg 56.9M 1
Total Funding
82
96
53
16
6
1
12
10
# Rounds
$724M
$572M
$356M
$83.9M
$26.7M
$24M
$19M
$16.4M
Europe
US
India
Canada
New
Zealand
Morocco
Australia
Latam
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$0.5
$0.7
$0.5 $0.4 $0.5
$0.6
$1.0
2011 2012 2013 2014 2015 2016 2017
$3.7
$1.9
$13.9
$3.6 $2.1
$5.2
$3.4
$11.3
$4.0
$5.9 $5.2
$8.8
$6.6
$9.0
$0.0
$56.3
$30.8
$48.0 $42.1
$17.1
$28.0
Livestock > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Livestock; 2011-2017
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$10.9K* $4.2M
$50.6K $56.9M
$1.2M $14M
$1.7M $236M
$16.9M
$7.3M
$3.2M
$415K
Series C+
Series B
Series A
Seed
Stage

Note: 306 companies with undisclosed funding amount are not included
32
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
44
43
26
9
3
No. of Companies
Livestock > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Livestock; as of Dec 2018
Distribution of companies by Funding Range
$14M
$183M
$491M
$664M
$547M
$ Investment

Stage No. of Companies
Funding
Funnel
100%
22%
6%
4%
3%
33
Note: Numbers in the brackets show the count of companies
Time to raise
next round
60
70
112
409
1865
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
22% 6%
(116)
7%
(137)
- 3%
(59)
75%
(1397)
27% 19%
(79)
23%
(95)
- 3%
(11)
70%
(286)
63% 13%
(14)
13%
(15)
- 3%
(3)
35%
(39)
86% 19%
(13)
20%
(14)
- 1%
(1)
13%
(9)
- 22%
(13)
23%
(14)
- 2%
(1)
5%
(3)
Livestock > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Livestock
Funding Funnel
22 Months
30 Months
24 Months
Investment backedBootstrapped
1
1
55
64
63
30
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Livestock > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Livestock; Dec 2016-Dec 2018
Notable Investments in last 24 months (1/2)
LATE STAGE
$50M - PE May 2017
Manufactures and distributes processed dairy goods
TPG, The Rise Fund
$40M - Series D May 2017
Calysta (2011, Menlo Park, $88M)
Production of protein nutritional feeds and animal
health products
Mitsui & Co, Temasek, Cargill, Municipal Employees
Retirement System, Walden Riverwood Ventures,
Aqua Spark, Pangaea Ventures
$25M - Series D Dec 2018
Nichirei, 3one4, Bertelsmann India Investments,
Vertex Ventures, University of California, Sistema
LATE STAGE
$25M - Series C Sep 2018
Bertelsmann India Investments, Vertex Ventures,
Mayfield, 3one4, Sistema, InnoVen Capital,
University of California, Mayur Desai
$22.7M - PE Jun 2018
ABP Food Group (1994, Ardee, $22.7M)
Processor and supplier of fresh and value-added
meat products
EARLY STAGE
$14M - Series B May 2018
$17.3M)
Farm optimization and monitoring support solution
provider
Bill and Melinda Gates Foundation, IndusAge
Partners, Qualcomm Ventures, ABB, Omnivore
Partners, Blume Ventures, Venture Highway,
Beenext, Binny Bansal
$10.3M - Series B Mar 2017
Mayfield, Sistema, 3one4, Neoplux, Mayur Desai
$10.2M - Series A Aug 2018
Livestock Management Platform
Wheatsheaf

Livestock > Investment Trends > Notable Investments in last 24 months
Notable Investments in last 24 months (2/2)
EARLY STAGE
$2M - Series A Jul 2017
$17.3M)
Farm optimization and monitoring support solution
provider
Blume Ventures, Binny Bansal, Venture Highway,
500 Startups
SEED STAGE
$3.1M - Seed Mar 2018
Online fresh meat delivery service
SIDBI Venture Capital, Amit Burman
$2.7M - Seed Dec 2017
$343k - Angel Feb 2017
Mohammad Arif Khan, Abhishek Goyal, Samir Saran,
Vishal Chaudhary, Jitendra Gupta, Gaurav Sharma,
Ashvin Chadha
Seed Feb 2017
Telstra

Livestock > Investment Trends > Notable Investments in last 24 months in China
Notable Investments in last 24 months in China
EARLY STAGE
$20.2M - Series B Aug 2017
DQY Agriculture Technology (2002, Beijing,
$20.2M)
Egg producer factory and biogas plant
Capital Today Group

Most Active Investors (VC, PE) by Stage in Livestock; Last 5 years (Dec 2013-Dec 2018)
Most Active VC & PE Investors
37
Livestock > Investment Trends > Most Active VC & PE Investors
SEED STAGE
High-Tech Grunderfonds(2 Investments)
Fodjan, PerformaNat
1
Orios Venture Partners
Country Delight
2
Starquest Capital
En Direct Des Eleveurs
3
Max Ventures
Porter Road
4
3one4
Licious
5
Inseed Investimentos
Chip Inside
6
Acumen
EthioChicken
7
NZVIF
Mastaplex
8
Mena Venture investments
Connecterra
9
Ag Startup Engine
Automed
10
EARLY STAGE
Desjardins – Innovatech(2 Investments)
Thymox Technology, Prevtec Microbia
1
Pangaea Ventures
Calysta
2
Mayfield
Licious
3
Blume Ventures
Stellapps Technologies
4
Venture Highway
5
Avrio Capital
Enterra
6
Intergado
7
Aqua Spark
Calysta
8
Sistema
Licious
9
Walden International
Calysta
10
LATE STAGE
ATP Private Equity Partners (2
Investments)
SFK Leblanc, Frontmatec
1
Unigrains
Neovia Group
2
Eight Roads Ventures
Milk Mantra
3
Temasek
Calysta
4
Vertex Ventures
Licious
5
Bertelsmann India Investments
Licious
6
Middleland Capital
Advanced Animal Diagnostics
7
Go Capital
VitamFero
8
M Capital Partners
La Fermiere
9
Walden Riverwood Ventures
Calysta
10

Livestock > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Livestock; Last 5 years (Dec 2013-Dec 2018)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
MassChallenge(6 Investments)
Vence, Livestock Wealth, BovControl
1
500 Startups(3 Investments)
Stellapps Technologies, Rex, Farmeron
2
Techstars(3 Investments)
Grubbly Farms, Rex, Tsenso
3
Venture Kick(3 Investments)
Vigilitech, TwentyGreen, AlpenHirt
4
SOSV(2 Investments)
Smart Shepherd, EIO Diagnostics
5
Brand Capital(2 Investments)
Country Delight, Arrowline Organic Dairy
6
Village Capital(2 Investments)
Mifugotrade, M-shamba App
7
Y Combinator
Cowlar
8
Startupbootcamp
Serket
9
Food-X
EIO Diagnostics
10
OTHER NOTABLE INVESTORS
Wheatsheaf(5 Investments)
AgriWebb, Enterra, GrowSafe
1
B I R A(4 Investments)
Mother Dairy, Wobble Base, Abhay Nutrition
2
Scottish Enterprise(2 Investments)
MiAlgae, Well Cow Limited
3
Cargill(2 Investments)
Calysta, Agriness
4
Bpifrance(2 Investments)
Obione, Ducatillon
5
Great Oaks Venture Capital(2
Investments)
Porter Road, Porter Road
6
European Investment Bank(2
Investments)
Devenish Nutrition, FrieslandCampina
7
Department of Biotechnology(2
Investments)
Globion India, Wobble Base
8
Reply
Connecterra
9
Municipal Employees Retirement
System
Calysta
10
DEBT INVESTORS
Tikehau Capital(4 Investments)
Ceva, IMV Technologies, Hypred
1
PMV(2 Investments)
Virovet, Porphyrio
2
Sinergi Burkhina(2 Investments)
Agroserve
3
KKR
Japfa Comfeed
4
TPG
Dodla Dairy
5
Idinvest Partners
Hypred
6
InnoVen Capital
Licious
7
Siparex
Obione
8
ADM Capital
Yeeda
9

Livestock > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/2)

Livestock > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (2/2)

Livestock > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
42
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Market Deep Dive

Some more Sector Reports you might want to check out
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Nov 2018
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Oct 2018
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Marketmap: Livestock
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.44 Feed Report - Livestock - Dec 2018
Livestock > Market Details > BlueBox

Key Sub Sectors
45
Key Sub Sectors in Livestock
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Operations
Companies engaged in breeding, rearing, processing, and marketing of livestock commodities
such as milk, meat, etc
Inalca (1963, Modena, Acquired)
Kwality (1992, Delhi, $77.4M)
629 147 $886M
Farm Consumables
Companies developing consumable products for livestock farms such as feed, feed additives
and vet products
Godrej Agrovet (1992, Mumbai, Public)
Neovia Group (1954, Vannes, $236M)
401 101 $583M
Companies leveraging technology to bring efficiency in the planning and operations of on-field
activ....
Allflex (1972, Dallas, Acquired)
$17.3M)
361 78 $211M
Companies offering supply chain platforms for farmers to market their livestock farm produce
as well....
Wellard (1980, Fremantle, Public)
108 25 $94.8M
Farm Infrastructure
Companies developing infrastructure and components for livestock farming including
products for auto....
Octopus Robots (1987, Cholet, Public)
Advanced Animal Diagnostics (2001,
Morrisville, $45.1M)
102 24 $71.2M
Companies developing equipment and other solution for processing and packaging of
livestock farm produce
SFK Leblanc (1931, Kolding, Acquired)
Bettcher (1944, Birmingham, 0)
209 17 $48.3M
Inputs Supply Chain
Companies offering supply chain platforms for farmers to procure farm inputs for their
livestock farms
IMV Technologies (1963, Laigle, Acquired)
Engender Technologies (2011, Auckland,
$4.5M)
54 16 $5.4M
Livestock > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/8)
46
Livestock > Market Details > Detailed Sector Taxonomy

47

48

49

50

51

52

53

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(+2)
Produce Supply Chain > Digital Market Linkage > Meat Products > B2C > E-
Distributor
Companies which are e-distributor of meat products sourced directly from farmers to end consumers
(Companies covered 12 | Funded 3 | Total Funding $69M)
$64.8M
(+$60.7M)
6
(+2)
Licious
(2015, Bangalore, $63.8M)
2
(-)
Farm Monitoring & Management > Farm Data & Analytics > Integrated
Platforms providing insights on animal health and productivity by real-time monitoring of animals
using wearables and sensors
(Companies covered 98 | Funded 46 | Total Funding $66.3M)
$41.9M
(+$38.4M)
14
(+2)
3
(-2)
Farm Monitoring & Management > Farm Management Solutions
Companies providing on-premise or cloud-based software products for resource management in
livestock farms
(Companies covered 194 | Funded 23 | Total Funding $37.2M)
$24.5M
(+$19.6M)
13
(+8)
AgriWebb
(2013, Sydney, $16.4M)
54
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets by Funding in Livestock in last 2 years (December 2016 - November 2018)
Livestock > Market Details > Top Markets of Investment Activity

Incubators
Seed 3one4 (#1), SIDBI Venture Capital (#1)
Series A/B Mayfield (#1), Sistema (#1)
Series C+ Vertex Ventures (#1), Bertelsmann India Investments (#1)
None
$25M - Series D
$25M - Series C
$3.1M - Seed
$1.2M - Seed
Field & Flower (2010, London, $1.2M)
$10.3M - Series B
$343k - Angel
$224k - Angel
$3M - Series A
$415k - Angel
$537k - Seed
Dec 2018
Licious raises $25 mn from investors as it eyes expansion in
7 more cities, Journey Line
Sep 2018
Meat Delivery Firm Licious raises $25 million in Series C
Funding, TechStory
Sep 2018 Meat start-up Licious to raise up to $30 million, Livemint
Aug 2018
ZappFresh and Licious are working on the meat of the
matter - finding profitability, YourStory Media
Jun 2018
Licious looks to do an Amul, to build Rs 25-bn online meat
biz over 5 yrs, Business Standard
May 2018
Licious gets funds infusion to spur tech installation & brand
building, Food And Beverage News
May 2018
Indian Gourmet Meat Brand Licious Recognised With
FSSC22000, One of the Highest Food Safety Certification in
the World, BW Businessworld
May 2018 Meat start-up Licious gets top food-safety mark, Business Line
Apr 2018
Zappfresh takes ex Reliance Comm. CEO on-board as advisor,
Asian News International
Mar 2018
Zappfresh raises Rs 20 cr from Amit Burman, SIDBI Venture
Cap, Indiatimes
Oct 2017
Field&Flower Secures £750,000 Funding Target in Under
Two Weeks on Crowdcube, Crowdfund Insider
Sep 2017
Zappfresh in talks with Dabur’s Amit Burman, others to raise
$5 million - nternet, Nternet
Aug 2017
Former Snapdeal exec Vineet Khanna joins Licious as head of
ops, Deal Street Asia
Feb 2017
Meat ordering startup Licious raising Series B funding ,
VCCircle
News
-
1
1
3
12
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Produce Supply Chain > Digital Market Linkage > Meat Products > B2C > E-Distributor: Market Factsheet
55
ExitsMost Active Investors
Recent InvestmentsCompanies which are e-
distributor of meat products
sourced directly from farmers to
end consumers
Licious
ZappFresh
(2015, Delhi, $4.1M)
Field & Flower
(2010, London, $1.2M)
Al Baqarah
(2016, Hyderabad)
Top Companies
#1 Top Markets of Investment Activity
Livestock > Market Details > Market: E-Distributor
Companies Created 12 | Funded 3 | Total Funding $69M
0
0.5
1
1.5
2
2.5
3
3.5
$0k
$10M
$20M
$30M
$40M
$50M
$60M
2014 2015 2016 2017 2018
YoY Funding Rounds
YoY Funding and Rounds
Market: E-Distributor

Produce Supply Chain > Digital Market Linkage > Meat Products > B2C > E-Distributor: Top Companies
Analyst’s Pick
Soonicorn. Stage: Series D
Nichirei, 3one4, Bertelsmann India Investments
and 22 Other Investors
Minicorn. Stage: Seed
SIDBI Venture Capital, Amit Burman, Mohammad
Arif Khan and 17 Other Investors

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
57
Produce Supply Chain > Digital Market Linkage > Meat Products > B2C > E-Distributor: Leaderboard
Better than Market Average
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Licious 2015 Bangalore Series D $63.8M 5 - 4 - - - 300k 2.4k 15 840 57% - -
4.9 ZappFresh 2015 Delhi Seed $4.1M 4 4 5 - 4 343 8k 1.1k 8 663 182% 7 2%
3.4
Field &
Flower
2010 London Seed $1.2M 1 - - - - 4.1k - - 1 - - 18 -
2.5
Dorset Meat
Company
2017
Blandford
Forum
Unfunded - - - - - 4 1.8k - - - - - 495 39%
1.1
We Are
Fresh
2016 Thrissur Unfunded - - - 4 3 3 1 750 14 - 1 8% - -
0.6 Al Baqarah 2016 Hyderabad Unfunded - - - - - 4 3 - - - - - - -
0.6
Organic Meat
Online
2013 Boonah Unfunded - - - - - 4 - - - - - - - -
0.1 Mutton fresh 2018
Bhubanesw
ar
Unfunded - - - - - 3 - - - - - - - -
0.0 Goel Foods 2018 Nairobi Unfunded - - - - - 2 - - - - - - - -
0.0
Meine kleine
Farm
2011 Berlin Unfunded - - - - - - - - - - - - - -
0.0 KhasiOnline 2016 Bangalore Unfunded - - - - - - - - - - - - - -
0.0
Rooted
Foods
2015 Ottawa Unfunded - - - - - - 1 - - - - - - -

Incubators 7 Percent (#1), 500 Startups (#1)
Seed Omnivore Partners (#1), Reply (#1)
Series A/B Inseed Investimentos (#1), Wheatsheaf (#1)
Series C+ Iris Capital (#1), Invision Private Equity (#1)
TruTest NorthAmerica Oct - 2018
Acq by Datamars
Silent Herdsman Feb - 2016
Acq by Afimilk
SCR Engineers Dec - 2014
Acq by Allflex for $250M
Datamars Mar - 2014
Acq by Columna Capital for $83M
$5M - Series A
HerdX (2010, San Antonio, $5M)
Series A
Smart Animal Husbandry Care
(2014, Ayer Raja New Town)
$2.3M - Seed
Herddogg (2013, Ashland, $3.1M)
$2.7M - Series A
Intergado (Betim, $2.7M)
$14M - Series B
Stellapps Technologies (2011,
Bangalore, $17.3M)
$2.9M - Series A
Connecterra (2014, Amsterdam,
$5.1M)
$2.7M - Seed
Vence (2016, San Francisco, $2.7M)
$1.5M - Seed
Quanturi (2016, Helsinki, $1.5M)
Dec 2018
Datamars unveils latest UHF RFID system, Laundry and
Cleaning News
Oct 2018
Datamars Announces Tru-Test Acquisition Completion,
PRWeb
Jul 2018
HerdDogg Raises $2.3m Seed Round for Livestock IoT,
AgFunderNews
Jun 2018
Agroninja creates innovative cattle weighing smartphone
app, GlobalMeatNews
Jun 2018
Andermatt Biocontrol and Trifolio-M acquires shares in
Biocont Poland, Agropages
May 2018
Stellapps bags $14 million in a round led by Gates
Foundation, others, Indiatimes
Feb 2018
Pitching a wearable to make cattle farming more sustainable,
Vence raises $2.7 million, TechCrunch
Oct 2017
Stellapps brings high-tech production solutions to India’s
dairy industry, StartUp Beat
Aug 2017
Chipsafer Connects Cattle Ranching to the Cloud with LoRa
Technology, IoT Business News
Jul 2017
Omnivore-backed IoT solutions firm Stellapps secures Series
A funding, VCCircle
Jun 2017 Vodafone Germany offers Moocall, Telecompaper
May 2017
Datamars Inc. Releases State-of-the-Art RFID LaundryChip,
PR Newswire
Nov 2016
Agri-tech startup SmartAHC tests 'FitBit' for pigs in China,
E27
May 2016
Connecterra Raises $1.8M in First Round funding |
Connecterra, Connecterra
News
5
5
13
46
98
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Farm Monitoring & Management > Farm Data & Analytics > Integrated: Market Factsheet
58
Exits
Recent InvestmentsPlatforms providing insights on
animal health and productivity by
real-time monitoring of animals
using wearables and sensors
Datamars
(1988, Lugano, $8.8M)
Silent Herdsman
(2009, Dumfries, $8.6M)
Smartbow
(2009, Weibern, $5.3M)
Top Companies
Livestock > Market Details > Market: Integrated
Companies Created 98 | Funded 46 | Total Funding $66.3M
0
2
4
6
8
10
$0k
$5M
$10M
$15M
$20M
$25M
$30M
$35M
2014 2015 2016 2017 2018
YoY Funding Rounds
Market: Integrated

Farm Monitoring & Management > Farm Data & Analytics > Integrated: Top Companies
Market: Integrated
Analyst’s Pick
$17.3M)
Farm optimization and monitoring support
solution provider
Minicorn. Stage: Series B
Bill and Melinda Gates Foundation, IndusAge
Partners, Qualcomm Ventures and 8 Other
Investors
Connecterra (2014, Amsterdam, $5.1M)
Integrated cattle health tracking platform for dairy
farmers
Editor's Pick. Stage: Series A
European Union, Sistema Venture Capital,
AgFunder and 7 Other Investors
Vence (2016, San Francisco, $2.7M)
Integrated hardware and software platform for
real-time livestock monitoring and data analysis for
disease detection
Editor's Pick. Stage: Seed
Eniac Ventures, Rabobank, MassChallenge and 3
Other Investors
Analyst’s Pick
Agroninja (2017, Csongrad)
Mobile application for cattle weight measurement
Editor's Pick. Stage: Funded
OXO Labs, Hiventures

60
Farm Monitoring & Management > Farm Data & Analytics > Integrated: Leaderboard
Market: Integrated
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Connecterra 2014 Amsterdam Series A $5.1M 4 5 5 - - 719 300 2 3 - - 82 13%
5.0
Stellapps
Technologies
2011 Bangalore Series B $17.3M 5 - 5 3 4 176 5k 43 4 11 34% 41 30%
4.7 Smartbow 2009 Weibern Series A $5.3M 1 - 4 - 4 245 61k 401 - - - 20 9%
4.2 Agersens 2014 Melbourne Seed $2M 3 - - - - 920 - - - - - 75 9%
4.2 Quantified 2014 Lincoln Seed $300k 1 - - - - 824 - - - - - 57 7%
4.1 FarmBot 2014 Sydney Seed $81.5k 2 - - - - 416 - - 1 - - 66 19%
4.1 Datamars 1988 Lugano Acquired $8.8M 2 - - - - 208 - - 6 - - -1 -
3.9 Vence 2016
San
Francisco
Seed $2.7M 2 - - - - 66 - - 1 - - 17 35%
3.8
Silent
Herdsman
2009 Dumfries Acquired $8.6M 2 - - - - 668 - - 1 - - -12 -2%
3.6 GrowSafe 1990 Airdrie Series A - 1 - - - - 525 - - - - - 29 6%
3.5 Cowlar 2015 Islamabad Seed $170k 2 - - - - 126 - - - - - 11 10%
3.5 Herddogg 2013 Ashland Seed $3.1M 2 - - - - - - - 2 - - - -
3.3
TruTest
NorthAmeric
a
1963 Auckland Acquired - - - 4 - 2 248 34k 98 1 5 5% 35 16%
3.3 Digitanimal 2016 Madrid Unfunded - - 3 5 4 4 250 4k 16 - 5 45% 135 117%

Incubators Startupbootcamp (#1), Building Clever Companies (#1)
Seed High-Tech Grunderfonds (#1), Uncork Capital (#1)
Series A/B Wheatsheaf (#1), SP Ventures (#1)
Series C+ Cargill (#1)
Farmeron Aug - 2016
Acq by Virtus Nutrition
Format International Dec - 2015
Acq by Cargill
FarmWizard Feb - 2015
Acq by Wheatsheaf
Dairy Oct - 1999
Acq by Wilcox Farms
$2.3M - Series A
Performance Livestock Analytics
(2015, Ames, $4.5M)
Seed
OPTIFarm (2018, Chesterfield)
PE
Agriness (2001, Florianopolis)
$10.2M - Series A
$886k - Series A
JetBov (2014, Joinville)
$2.7M - Seed
$1.5M - Seed
PastureMap (2014, Palo Alto, $1.5M)
$18k - Seed
Serket (2016, Amsterdam)
Seed
FarmControl (2014, Amadora)
Dec 2018
Global Milking Robots Market Size, Share 2018-2023:
DeLaval, Hokofarm, GEA Farm and Lely, Publicist Report
Nov 2018
Nutreco backs cloud-based feed management start-up,
FeedNavigator
Sep 2018
Global Milk Tank Market 2018 Analysis – DeLaval, Packo
Cooling, Mueller, Serap, GEA, Roka, Wedholms, Bcast, Talk
Daily News
Sep 2018
Cargill announces strategic equity investment in Agriness to
help customers across the globe increase animal
productivity and farm profitability, PR Newswire
Aug 2018
AgriWebb Raises A$14m Series A, Acquires FarmWizard
from Wheatsheaf Group for Livestock Tech, AgFunderNews
Jul 2018 DeLaval opens $1m Kansas City training center, Feedstuffs
May 2018
Prairie Systems and DP TechLink Announce Strategic
Partnership to Help Revolutionize Traceability and Logistics
in the Feed Industry, PRWeb
Jan 2018
MetaFarms Launches New Tech for Swine Producers, Business
Wire
Aug 2017
Dairy Q1 profit margins pulled down due to procurement
cost and strike, Franchise India
May 2017
CattleXpert prepares for launch of overhauled agTech
software, Silicon Prairie News
Apr 2017 Watching grass grow is dull but profitable, News
Mar 2017 fodjan Secures Series A Funding, FinSMEs
Aug 2015
Japan’s Farmnote raises $1.7M, developing wearable sensors
for dairy livestock | THE BRIDGE, THE BRIDGE
News
4
4
9
23
194
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Farm Monitoring & Management > Farm Management Solutions: Market Factsheet
61
Exits
Recent InvestmentsCompanies providing on-premise
or cloud-based software products
for resource management in
livestock farms
AgriWebb
(2013, Sydney, $16.4M)
Farmnote
(2013, Shirokanedai, $10M)
Performance Livestock
Analytics
(2015, Ames, $4.5M)
Farmeron
(2010, Columbus, $4.3M)
PastureMap
(2014, Palo Alto, $1.5M)
Top Companies
Livestock > Market Details > Market: Farm Management Solutions
Companies Created 194 | Funded 23 | Total Funding $37.2M
0
2
4
6
8
10
$0k
$2M
$4M
$6M
$8M
$10M
$12M
$14M
$16M
2014 2015 2016 2017 2018
YoY Funding Rounds
Market: Farm Management Solutions

Farm Monitoring & Management > Farm Management Solutions: Top Companies
Analyst’s Pick
Minicorn. Stage: Series A
Wheatsheaf, Telstra, Government of Australia and 2
Other Investors
Farmnote (2013, Shirokanedai, $10M)
Software for livestock herd management
INCJ, ZEN-NOH ACA Limited (ZAC), The
Norinchukin Bank and 3 Other Investors
4Milk (2016, Nova Lima)
Herd management software and farm produce
market linkage platform
Editor's Pick. Stage: Unfunded
Caprabook (2015, Satara)
Software for goat farm management
Editor's Pick. Stage: Unfunded
Analyst’s Pick
JetBov (2014, Joinville)
Software for livestock farm management and
agronomy advice
SP Ventures, Gulfill Stream Partners, Inovativa
Brasil, 4Legacy
Serket (2016, Amsterdam)
Develops and offers livestock health management
solutions
Editor's Pick. Stage: Seed
Startupbootcamp

63
Farm Monitoring & Management > Farm Management Solutions: Leaderboard
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 AgriWebb 2013 Sydney Series A $16.4M 6 5 5 - - 2.2k 3k 23 1 1 5% 305 17%
4.7 Farmnote 2013
Shirokaned
ai
Series A $10M 2 - 4 - - 457 3k 27 2 4 17% 72 19%
4.3 PastureMap 2014 Palo Alto Seed $1.5M 2 - 5 4 4 528 3k 17 - 5 42% 43 9%
4.3 Fodjan 2014 Dresden Series A - 2 - 5 - - 139 3k 17 4 3 21% 13 10%
3.8
Performance
Livestock
Analytics
2015 Ames Series A $4.5M 2 - - - 5 - - - 1 - - - -
3.8 JetBov 2014 Joinville Series A - 1 - 5 - - 290 3k 24 - 5 26% 6 2%
3.7 DeLaval 1883 Tumba Unfunded - - - 4 - - 5.1k 42k 192 5 9 5% 222 5%
3.7 Dairy 2000 Frisco Acquired - 1 - - 3 4 104 375 - 2 - - 4 4%
3.6 Agriness 2001
Florianopol
is
Funded - 1 2 5 3 3 307 3k 82 1 8 11% 14 5%
3.4 Herdwatch 2012 Roscrea Unfunded - - - 5 - 3 9k 30k 104 - 19 22% 213 2%
3.4 FarmControl 2014 Amadora Seed - 1 - - - - 65 - - - - - 15 30%
3.4 Farmeron 2010 Columbus Acquired $4.3M 4 - - - - 3.6k - - - - - -94 -3%
3.2 Uniform Agri 1983 Assen Unfunded - - - 4 - - 408 43k 176 - 14 9% 23 6%
3.1 Tambero 2012 Morteros Unfunded - - - 4 - - 1.7k 30k 288 - 17 6% 39 2%
3.1 Serket 2016 Amsterdam Seed - 1 5 - - 5 - - - - - - - -

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
64
Notable Acquisitions
Top Acquirers

Public companies (1/14)
66
Performance indicators of public companies in Livestock
IPO Date Company
IPO
Mcap
Exchange
Ticker
Mar 2018
Octopus Robots (1987, Cholet)
Develops mobile robots for the agricultural and animal husbandry
industy
EPA:MLOCT
Oct 2017
Godrej Agrovet (1992, Mumbai)
Manufacturer and supplier of agriculture input products
$1.4B BOM:540743
Jun 2017
Jeil Holdings (1962, Gangnam)
Produces, processes and supplies animal feed products
KOSDAQ:3380
May 2017
Parag Milk Foods (1992, Pune)
Manufacturer and supplier of dairy products
BOM:639889
Nov 2016
Synlait (2000, Rakaia)
ASX:SM1
Jul 2016
AdvancePierre Foods (1946, Cincinnati)
Convenience food product supplier to food establishments
$1.7B NYSE:APFH
May 2016
ForFarmers (1899, Lochem)
Manufacturer and supplier of feed for livestock animals
EURONEXT:FFA
RM
Oct 2015
Wellard (1980, Fremantle)
$407M ASX:WLD
Aug 2015
Beston Global Food (2014, Adelaide)
Integrated company in the production, distribution, and export of
food products
$96.6M ASX:BFC
Livestock > Exit Outlook > Public Companies

67
IPO Date Company
IPO
Mcap
Exchange
Ticker
Mar 2015
The a2 Milk Company (2000, Auckland)
Integrated company in the farming, processing, and supply of milk
ASX:A2M
Oct 2014
Feed One (2014, Yokohama)
Manufactures and markets feeds for livestock and fisheries
TYO:2060
Apr 2014
Phibro Animal Health (1946, Teaneck)
Develops animal health and performance products
$582M NASDAQ:PAHC
Jul 2013
Aksha Corporation (1962, Kagoshima)
TYO:1381
Jul 2013
Nichiwa Sangyo (1924, Kobe)
Manufactures and supplies animal feed products and livestock
equipment
TYO:2055
Feb 2013
Amatheon Agri (2013, Berlin)
Manages complete value chain of field crops and livestock animals
EURONEXT:MLA
AH
Mar 2010
Agfeed Industries (1995, Nanchang)
Integrated company in animal feed production and rearing,
processing, and supply of hog and its products
EURONEXT:ALH
OG
Jul 2008
John Bean Technologies (1894, Chicago)
Designer, manufacturer and supplier of complete meat processing
lines
NYSE:JBT
Nov 2006
Anpario (1997, Worksop)
Development, manufacturing, and supply of feed additives for
livestock and aquaculture
LON:ANP

68
IPO Date Company
IPO
Mcap
Exchange
Ticker
Jun 2006
Australian Dairy Farms Group (1992, Brisbane)
Vertically integrated company in farming, processing, and marketing
of dairy products
$10.3M ASX:AHF
Apr 2006
Gene BioTech (2000, Gyeongju)
Development, manufacturing, and marketing of biological feed
additives and veterinary medicines for livestock animals
$29.8M KOSDAQ:86060
Feb 2006
Skystar Bio-Pharmaceutical (1997, Xian)
Manufacturer and supplier of vaccines & pharmaceutical products
for animals
NASDAQ:SKBI
Feb 2006
Malindo Feedmill (1997, Jakarta)
Fully integrated company in poultry breeding and production of
animal feed & value-added products
IDX:MAIN
May 2004
Wynnstay (1917, Shrewsbury)
Vertically integrated business for supplying cereal seeds, animal
feeds, and pet feeds in the UK
LON:WYN
Jan 2004
PWF Consolidated Berhad (1997, Bukit Mertajam)
Integrated business for poultry farming, animal feed milling, and
grain processing
7134
Jul 2003
Venky's India (1971, Pune)
Manufacturer of processed and frozen poultry products.
NSE:VENKEYS
Nov 2001
Viscofan (1975, Aranguren)
Manufacturer and supplier of artificial casings for meat products
BME:VIS

69
IPO Date Company
IPO
Mcap
Exchange
Ticker
May 2001
SKM Egg Products (1995, Erode)
Integrated poultry farming and egg processing firm in India
BOM:532143
Feb 2001
Simran Farms (1984, Indore)
Engaged in integrated poultry and poultry products
BOM:519566
Oct 2000
BRF (1934, Itajai)
Integrated company in processing and supply of value added meat
products
NYSE:BRFS
Apr 2000
Daesung Microbiological Lab (1966, Seoul)
Manufacturer and supplier of vaccines and medicines for livestock
animals
KOSDAQ:36480
Mar 2000
Rational (1976, Landsberg Am Lech)
Manufacturer and supplier of meat combi cooking systems
FRA:RAA
Nov 1999
Easy Bio (1988, Seoul)
Manufactures and markets biological feed additives for livestock
animals
KOSDAQ:35810
Mar 1998
Sealed Air (1960, Charlotte)
Develops packaging solution to increase shelf life of Consumer
Packaged goods
NYSE:SEE
Sep 1997
Bachoco (1952, Celaya)
Fully integrated company in breeding, rearing, processing and
supply of poultry products
NYSE:IBA

70
IPO Date Company
IPO
Mcap
Exchange
Ticker
Dec 1996
Sierad Produce (1985, Jakarta)
Integrated company in feed production and breeding, processing, &
supply of poultry products
IDX:SIPD
Aug 1996
Dairy Crest (1987, Esher)
Integrated business for sourcing and processing of milk for the
supply of consumer products in the UK
LON:DCG
Sep 1995
Eco Animal Health (1972, Malden)
Animal health products manufacturer and supplier
$10.4M LON:EAH
Apr 1994
Shin Tai Industry (1989, Kaohsiung City)
Manufacturer and supplier of animal feed
TPE:1235
Jan 1990
Wingara (1984, Kew)
Processor and marketer of agricultural products
ASX:WNR
Jan 1990
Lee Feed Mill (1983, Bangkok)
Producer and seller of animal feed
$32.9k BKK:LEE
Oct 1989
Japfa Comfeed (1971, Jakarta)
Production of animal feeds
IDX:JPFA
Aug 1987
Ridley (1987, Melbourne)
Manufacturing and supply of feed and feed ingredients for livestock
industry in Australia
ASX:RIC
Jul 1987
ImmuCell (1982, Portland)
Manufacturer and supplier of products to improve health and
productivity of dairy & beef cattle
NASDAQ:ICCC

71
IPO Date Company
IPO
Mcap
Exchange
Ticker
May 1987
Sanderson Farms (1947, Laurel)
Manufacturer and retailer of fresh and frozen chicken products.
NASDAQ:SAFM
Nov 1986
Pilgrim's (1946, Greeley)
Fully integrated company in poultry(broiler) farming, feed
production, processing and supply of poultry meat products
NASDAQ:PPC
May 1981
Amrit Corp (1940, Delhi)
Agribusiness with interests in dairy, BPO and real estate
BOM:507525
Jan 1978
Conagra (1919, Chicago)
Vertically integrated company in manufacturing and supply of value-
added meat and food products
NYSE:CAG
Jan 1978
Restaurant chain and processed pork products manufacturer &
supplier based in USA
NASDAQ:BOBE
Jan 1978
Hormel Foods (1891, Austin)
Manufacturer and supplier of food products
NYSE:HRL
Dodla Dairy (1998, Hyderabad)
Manufactures and distributes processed dairy goods
Ceapro (1997, Edmonton)
Production of active ingredients using plants as a feedstock for
human and animal consumption
CZO

72
IPO Date Company
IPO
Mcap
Exchange
Ticker
Multi category manufacturer and brand of food products
EPA:BN
Fully integrated company in hog breeding & rearing, processing and
supply of hog meat products
WSE:SFD
Avivagen (2005, Ottawa)
Development and marketing of livestock animal feed additives
CVE:VIV
China Mengniu Dairy (2004, Hohhot)
Manufacture and marketing of milk and dairy products
Biopharma company manufacturing and marketing nutritional
products
Jaguar Health (2013, San Francisco)
Developing gastrointestinal products for human prescription use and
animals
Manufacturer and supplier of medicines, vaccines, and diagnostic
products for animals
Bell Food Group (1869, Basel)
Processor and supplier of value-added meat products
SWX:BELL

73
IPO Date Company
IPO
Mcap
Exchange
Ticker
Sino Agro Food (2006, Guangzhou)
Produces and markets beef and seafood
Merkur
Market:SIAF-ME
Fully integrated company in rearing, breeding, processing, and
marketing of chicken, beef and pork products
Fujian Sunner Development (1999, Nanping)
Breeding, processing and supply of chicken
Quantum Foods (2013, Cape Town)
Integrated company in poultry rearing and production of animal feed
JSE:QFH
Tanke International Group (1989, Guangzhou)
Manufacturer and supplier of feed additives & nutritional products
for animals
JBS (1953, Sao Paulo)
marketing of chicken, beef and pork products
BVMF:JBSS3
Lala (1985, Torreon)
Produces and markets dairy products
Marel (1996, Reykjavik)
Manufacturer of meat processing equipment
ICE:MARL
WH Group (1958, Luohe)
Vertically integrated pork food agribusiness

74
IPO Date Company
IPO
Mcap
Exchange
Ticker
Marfrig Global Foods (2000, Sao Paulo)
Vertically integrated company in processing and supply of meat
products
BVMF:MRFG3
Virbac (1968, Carros)
Manufacturer and supplier of animal health products
EPA:VIRP
Chew's Agriculture (1987, Singapore)
Produces and supplies eggs
SGX:5SY
Dbe Gurney Resources (1986, Sitiawan)
KLSE:DBE
Wayne Farms (1965, Gainesville)
Vertically integrated company in processing and supply of poultry
meat products
NASDAQ:WNFM
Zemaitijos Pienas (1924, Telsiai)
Manufactures and markets dairy products
TAL:ZMP1L
KC Feeds (1999, Pohang)
CCK Consolidated Holdings Berhad (1996, Kuching)
Production and supply of poultry products
KLSE:CCK
Guangdong HAID Group (1998, Guangzhou)
Manufactures and markets feeds for aquaculture and livestock
animals

75
IPO Date Company
IPO
Mcap
Exchange
Ticker
Livestock Feeds (1963, Ikeja)
Lay Hong (1994, Klang)
Integrated company in rearing & breeding, processing, and supply of
poultry egg and meat products
Astral Foods (2001, Sandton)
Integrated company in poultry breeding, animal feed, value-added
poultry products
JSE:ARL
CBH (2003, Johannesburg)
Production and marketing of poultry products and animal feed
China Purity Foods (2007, Hong Kong)
Vertically integrated company operates slaughterhouses and
supplies pork
LTKM Berhad (1997, Klang)
Integrated company in rearing, processing, and supply of poultry egg
KLSE:LTKM
Indykpol (1991, Olsztyn)
Fully integrated company in breeding, rearing, processing, and
supply of turkey meat products
WSE:IND
Belor (1970, Irkutsk)
Integrated company in rearing, processing, and supply of meat &
dairy products

76
IPO Date Company
IPO
Mcap
Exchange
Ticker
Henan Huaying Agricultural (1991, Zhengzhou)
Integrated company in poultry breeding, slaughtering, and
processing
LDC Group (1968, St Laurent Des Arbres)
supply of meat products and eggs
EPA:LOUP
Producer, wholesaler and supplier of meat and meat products based
in Spain.
Sichuan Sundaily Farm Ecological Food (2003, Mianyang)
Integrated business chicken breeding and supply eggs
China Modern Agricultural Information (2005, Harbin)
Integrated company in breeding of cows & calves, production and
sale of fresh milk
C P Pokhphand (1987, Hong Kong)
Animal feeds research, manufacturing and supply
Woosung (1968, Daejeon)
Producer and supplier of animal feeds
KOSDAQ:6980
Hind Industries (1990, Delhi)
Production of meat and meat based products

77
IPO Date Company
IPO
Mcap
Exchange
Ticker
Ross Industries (1970, Bealeton)
Manufacturer and supplier of food processing and packaging
machinery
Nippon Formula Feed Manufacturing company (1929,
Kanagawa)
Integrated company in production & sale of fish, hatching eggs, and
animal feed
Farmsco (1999, Yongin)
Manufacturer and supply animal feed
KOSDAQ:36580
China Dairy (1979, Singapore)
Integrated company in dairy cattle farming and milk production
China Animal Healthcare (2010, Beijing)
Manufacturer and supplier of health care products for livestock
Huat Lai (1994, Merlimau)
Produces and supplies eggs and poultry products
PeterLabs (2002, Nilai)
Manufactures and distributes animal health and nutrition products
KLSE:PLABS
Tiankang Biological (1993, Urumqi)
Produces and supplies livestock products and swine
YuanShengTai Dairy Farm (2008, Qiqihar)
Operates and manages dairy farms

78
IPO Date Company
IPO
Mcap
Exchange
Ticker
Teo Seng Capital Berhad (2006, Johor Bahru)
Poultry farming and production of eggs
Wison International Holdings (2008, Hong Kong)
Produces, processes and supplies pork products
Shenzhen Jin Xinnong (1999, Shenzhen)
Integrated company in breeding & rearing of pig and production of
swine feed
Kreka (1971, Kavala)
Production and supply of meat products
TPC (1978, Alor Gajah)
Owns and operates poultry farming business
Farm's Best food Industries (1989, Rawang)
Produces and markets poultry products
Humatech (1988, Houston)
Manufacturer and supplier of humic and fulvic acids for animal feed
and crop fertilizer
Koryo Industry (1957, Busan)
Manufactures and markets livestock feed
Merit Biotech (2007, Taipei)
Manufactures and distributes animal healthcare products

79
IPO Date Company
IPO
Mcap
Exchange
Ticker
Shandong Minhe Animal Husbandry (1985, Yantai)
Produces and markets chicken products
Formosa Oilseed Processing (1986, Taichung)
Produces and supplies animal feed products

Notable Acquisitions (1/4)
80
Notable Acquisitions in Livestock
Livestock > Exit Outlook > Notable Acquisitions
2018 YTD
Acquirer: Tyson Foods Deal: $2.2B
Keystone Foods (1956, West Chester)
processing, and supply of meat products
Acquirer: Pilmico Deal: $413M
Gold Coin Group (1953, Singapore)
Acquirer: Marfrig Global Foods
Deal: $969M
National Beef (1992, Kansas City)
Fully integrated company in processing and supply
of processed beef products
2017
Acquirer: Cooke AquacultureDeal: $500M
Biopharma company manufacturing and marketing
nutritional products
Acquirer: Hormel Foods Deal: $850M
Columbus Craft Meats (1917, San Francisco)
products
Acquirer: POST HOLDINGS Deal: $1.5B
Restaurant chain and processed pork products
manufacturer & supplier based in USA
Acquirer: Pilgrim's Deal: $1B
Moy Park (1943, Craigavon)
Fully integrated company in rearing, processing,
and supply of poultry products
Fontanini Meats (1960, Cicero)
products
2017
AdvancePierre Foods (1946, Cincinnati,
$95M)
Convenience food product supplier to food
establishments
Acquirer: CDP Equity Deal: $175M
Inalca (1963, Modena, $205M)
Beef production and processing company in Italy
Acquirer: JBS Deal: $230M
Plumrose USA (1932, Downers Grove)
products

81
2016
Acquirer: Smithfield Foods Deal: $145M
Farmer John (1931, Los Angeles)
Brand of meat products
Acquirer: Chr. Hansen Deal: $185M
Bovamine (2010, Hoersholm)
Probiotics for livestock animals
2015
Applegate (1987, Bridgewater)
Processor and supplier of natural & organic meat
products
2014
Acquirer: Allflex Deal: $250M
SCR Engineers (1976, Netanya)
Livestock monitoring, data collection and analytics
Hillshire Brands (1939, Chicago)
Manufacturer and supplier of value-added meat
products
Acquirer: Bright Food Group Deal: $960M
Tnuva (1926, Tel Aviv)
Marketing cooperative of dairy farmers

82
2013
Acquirer: Darling Ingredients
Deal: $2.2B
Vion Food Group (1934, Eindhoven)
supply of fresh and value-added beef and pork meat
products
Acquirer: Shuanghui International
Deal: $4.7B
Fully integrated company in hog breeding &
rearing, processing and supply of hog meat
products
Acquirer: BC Partners Deal: $1.3B
Allflex (1972, Dallas, $106M)
Manufactures products for livestock identification
2010
Acquirer: Bright Dairy & Food
Deal: $82M
Synlait (2000, Rakaia, $22.1M)
2009
Acquirer: Terra Firma Capital Partners
Deal: $278M
Central Pastoral Company (1983, Brisbane)
Integrated cattle farming business in Australia

83
Before 2008
Burke (1974, Nevada)
Manufacturer and supplier of fully cooked meat
products & pizza toppings
Acquirer: Pfizer Deal: $155M
Embrex (1985, Durham)
Manufacturer and supplier of biological and
mechanical products for the livestock animals
Acquirer: Land OLakes Deal: $230M
Purina Mills (1894, St. Louis)
Manufacturer of Animal Feed Products

Most Active Acquirers
84
Livestock > Exit Outlook > Most Active Acquirers

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
85
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players

Livestock > Investors > Index of Most Active VC & PE Investors
Index of Top Investors (VC, PE) by Stage in Livestock; Last 5 years (Dec 2013 - Nov 2018)
Index of Most Active VC & PE Investors
SEED STAGE
High-Tech Grunderfonds (2 Investments)
3one4
NZVIF
Orios Venture Partners
Acumen
Starquest Capital
SIDBI Venture Capital
Max Ventures
Mena Venture investments
Sofimac Investment Managers
Ag Startup Engine
Sierra Ventures
BoxGroup
Collaborative Fund
EARLY STAGE
Desjardins – Innovatech (2 Investments)
Avrio Capital
NZVIF
Pangaea Ventures
Pacific Channel
Mayfield
Aqua Spark
Sistema
Blume Ventures
Walden International
Acumen
Venture Highway
SP Ventures
Ag Startup Engine
LATE STAGE
ATP Private Equity Partners (2 Investments)
Unigrains
Eight Roads Ventures
Temasek
Vertex Ventures
Middleland Capital
Bertelsmann India Investments
Go Capital
M Capital Partners
Walden Riverwood Ventures
Eurazeo
The Rise Fund
Axcel Partners
Kansas Bioscience Authority
Cultivian Sandbox

3one4
88
Portfolio in Livestock | Exits | Funds Link | Website | LinkedIn | Twitter
Livestock > Investors > 3one4
People
Investments
[Soonicorn] Licious (2015, Bangalore, $63.8M, Series D)
Livestock Notable Portfolio
[Minicorn] ToneTag (2014, Bangalore, $18.1M, Series B)
Contactless payments using sound waves.
[Minicorn] Tracxn (2013, Bangalore, $14M, Series B)
Market intelligence platform for private market investing
[Minicorn] Faircent (2013, Delhi, $9M, Series B)
P2P lending marketplace
[Minicorn] Tripoto (2013, Delhi, $3.7M, Series A)
Trip planning community portal with itineraries
[Minicorn] Pocket Aces (2013, Mumbai, $3.5M, Series A)
Digital entertainment video production and social content publishing
[Minicorn] SwitchMe (2012, Mumbai, Seed)
Home loan switching platform
[Editor's Pick] YourStory Media (2008, Bangalore, $14M, Series
A)
Online publisher of content aiming to promote the entrepreneurial
ecosystem in India
[Editor's Pick] Connect India (2015, Bangalore, $9.8M, Series A)
Last mile delivery in rural areas
[Editor's Pick] Bugworks Research (2014, Bangalore, $9M,
Series A)
Drugs for antibiotic-resistant bacterial infections using its microbial
platform
[Editor's Pick] OnlineTyari (2014, Gurgaon, $5.8M, Series A)
Multi-lingual test preparation platform
Other Notable Portfolio
Top Exits
Recent News on Fund & Portfolio
Siddarth Pai
Co-Founder
Pranav Pai
Co-Founder
Geographical Spread Stage of Entry
Dec 2018
Licious raises $25 mn from investors as it eyes expansion
in 7 more cities, Journey Line
Sep 2018
Meat Delivery Firm Licious raises $25 million in Series C
Funding, TechStory
Sep 2018 Meat start-up Licious to raise up to $30 million, Livemint
Aug 2018
Jun 2018
Licious looks to do an Amul, to build Rs 25-bn online meat
biz over 5 yrs, Business Standard
May 2018
Licious gets funds infusion to spur tech installation &
brand building, Food And Beverage News
May 2018
Indian Gourmet Meat Brand Licious Recognised With
FSSC22000, One of the Highest Food Safety Certification
in the World, BW Businessworld
May 2018
Meat start-up Licious gets top food-safety mark, Business
Line
Aug 2017
Former Snapdeal exec Vineet Khanna joins Licious as
head of ops, Deal Street Asia
Mar 2017
Licious raises $10m from Mayfield, others, Deal Street
Asia
None
1 1
2
1
2013 2014 2015 2016 2017 2018
Follow On New Investments
-
-
-
-
1
Undisclosed
Series C+
Series B
Series A
Seed1
-
-
-
-
India

NZVIF
89
Livestock > Investors > NZVIF
People
Investments
[Editor's Pick] Engender Technologies (2011, Auckland,
$4.5M, Series A)
Develops microfluidic sperm sorting chip for livestock industry
[Unicorn] Xero (2006, Wellington, Public)
Online Accounting Software for SMBs
[Soonicorn] Centrillion Technologies (2009, Palo Alto,
$86.8M, Series C)
Molecular and genomics services including NGS, droplet digital PCR,
and bioinformatics
[Soonicorn] Vend (2010, San Francisco, $45.9M, Series D)
Cloud based Retail POS
[Soonicorn] Unleashed Software (2009, Takapuna, $17.5M,
Series C)
Inventory Management Software
[Minicorn] CropX (2013, Tel Aviv, $10.9M, Series A)
Integrated smart irrigation system
[Minicorn] Wipster (2012, Portland, $1.5M, Seed)
Platform for reviewing, approving, and collaborating on video
[Editor's Pick] Rancher Labs (2014, Cupertino, $30M, Series B)
Provides open source private container management and
Infrastructure software
[Editor's Pick] Cnano Technology (2006, Santa Clara, $21M,
Series C)
Manufactures carbon nanotubes
[Editor's Pick] Biolumic (2012, Palmerston North, $8.5M, Series A)
Ultra Violet treatment solutions for plants in New Zealand
Top Exits
Recent News on Fund & Portfolio
Richard
Dellabarca
CEO
Jan 2018
Engender takes aim at US$2 billion dairy artificial
insemination industry, The National Business Review
Online
Waikato Milking Systems
(1990, Hamilton)
Acq by Pioneer Capital - Feb
2014
1
2013 2014 2015 2016 2017 2018
2
-
-
1
1
Undisclosed
Series C+
Series B
Series A
Seed4
-
-
-
-
New Zealand

SIDBI Venture Capital
90
Livestock > Investors > SIDBI Venture Capital
Investments
[Minicorn] ZappFresh (2015, Delhi, $4.1M, Seed)
[Soonicorn] Billdesk (2000, Mumbai, $162M, Series C)
Payment gateway
[Soonicorn] ManthanRetail (2004, Bangalore, $104M, Series D)
Retail and CPG analytics solution
[Minicorn] Grab (2012, Mumbai, $7.2M, Series A)
Online hyperlocal delivery service for restaurants
[Minicorn] Carzonrent (2000, Delhi, $7M, Series A)
Car taxi service provider
[Minicorn] Momspresso (2010, Gurgaon, $4.6M, Series A)
Information portal for parents
[Editor's Pick] Wildcraft (1992, Bangalore, $17.7M, Series B)
Outdoor and adventure brand
[Editor's Pick] Bizom (2007, Bangalore, $4.2M, Series A)
Cloud-based mobile solution for field workforce automation
[Editor's Pick] Mosambee (2012, Mumbai, $3.4M, Series B)
EMV enabled comprehensive mPOS system
[Editor's Pick] MutualFundIndia.com (2002, Mumbai, Funded)
Research and analysis portal for mutual funds
Top Exits Recent News on Fund & Portfolio
Aug 2018
Apr 2018
Zappfresh takes ex Reliance Comm. CEO on-board as
advisor, Asian News International
Mar 2018
Zappfresh raises Rs 20 cr from Amit Burman, SIDBI
Venture Cap, Indiatimes
Sep 2017
Zappfresh in talks with Dabur’s Amit Burman, others to
raise $5 million - nternet, Nternet
Sep 2016 Raw Meat Etailer EasyMeat Acquires NonVeggies, Inc42
May 2016
Stay hungry but not foolish: Zappfresh Co-founder to
budding entrepreneurs, E27
Apr 2016
Reflections and quips on entrepreneurship by Justin Kan,
E27
Oct 2015
Exclusive: Raw meat e-tailer Zappfresh raises angel
funding – VCCircle, VCCircle
None
1
2013 2014 2015 2016 2017 2018
1
-
-
-
1
Undisclosed
Series C+
Series B
Series A
Seed2
-
-
-
-
India

Tracxn - Livestock Startup Landscape

Tracxn - Livestock Startup Landscape

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