New methane feed additive developer secures $7m seed funding

Australian agtech startup secures $7m seed funding to tackle livestock emissions

A Melbourne-based agtech startup has secured $7 million in seed funding to commercialise its new methane feed additive for livestock.

The funding round was led by Blackbird Ventures, with participation from Main Sequence Ventures, Grok Ventures, and angel investors including Canva co-founder Cameron Adams and Square Peg Capital co-founder Paul Bassat.

The startup, called Rumin8, has developed a methane-inhibiting feed additive for cattle that it claims can reduce methane emissions by up to 90%.

Methane is a potent greenhouse gas that is produced by livestock during digestion. It is estimated to account for around 14% of global greenhouse gas emissions.

Rumin8's feed additive is a natural product that is derived from a type of seaweed. It works by inhibiting the growth of methanogens, which are the microorganisms that produce methane in the gut of livestock.

The startup has conducted trials of its feed additive on cattle in Australia and New Zealand, and has found that it can reduce methane emissions by up to 90%. Rumin8 is now planning to commercialise its feed additive and make it available to farmers around the world.

The funding will be used to scale up production of the feed additive, conduct further trials, and hire more staff.

Rumin8 is also planning to develop new methane-inhibiting feed additives for other types of livestock, such as sheep and goats.

The startup's goal is to help reduce global methane emissions and contribute to the fight against climate change.

The funding is a significant boost for Rumin8, and it will help the startup to accelerate the commercialisation of its methane feed additive.

If successful, Rumin8's feed additive could have a major impact on the global livestock industry and help to reduce greenhouse gas emissions.