Hencol raises $1 million for a software solution for animal farmers.
Hencol, a Grebbestad, Sweden-based developer of a software solution for the agritech business, announced closing a SEK 10M ($1 million) capital investment round.
The funding was backed by private investors from Sweden, including Patrik Bergman who has also taken a seat on the board.
Hencol, founded in 2008 by Pia Källqvist, Henrik Österlund and Christer Wiik and led by CEO Johan Karlberg, built a software solution that uses big data and AI algorithms as decision support in animal husbandry. The system is combined with an IoT platform where the animals weigh themselves in their own stress-free environment and providing a digital decision support system that generates real-time information on animal growth and health.
Since 2016, the company has been part of Innovatum Startup's incubator in Trollhättan where they have received business development assistance and support to further develop the company.