On August 7th, VetMeasure announced a $100k investment by the Ames Seed Fund. The investment will provide the necessary runway for the company to expand their animal health monitoring products.
Vetmeasure is an Ames based creator of a “harness” that measures the health of an animal’s heart and other key health statistics. The harness can be used by veterinarians and owners to assess the health of their animals. The tool was primarily built for dogs, but with the investment, the firm is planning on expanding into dairy and beef cattle.
The company was founded by Kevin Maher, who is the current CEO of VetMeasure. Kevin’s background includes thirty years of experience in the animal health industry. He formed Maher Technologies, LLC (the precursor to VetMeasure) to create an entire ecosystem of products that help support animal health.
In the announcement, Maher stated: “VetMeasure is honored that Ames Seed Capital joined as an investment partner representing the Ames community. This timely investment helps support VetMeasure’s preparation for the commercialization phase.”
In a recent blog post, the company reported an update to the commercialization of the harness. Specifically, the company continues to build on its initial monitoring tools with temperature and body positioning analysis. These types of new features will be critical to ensure accuracy and a multitude of measurements as the company expands.
The Ames Seed Fund’s investment is the tip of the iceberg for the company. According to Mike Roof of the Ames Seed Capital Board of Directors (in their press release), the company intends to continue fundraising. “VetMeasure is working to obtain $1 million in seed capital and have currently raised about half their targeted amount. The company has continued to address engineering issues and begun the manufacture and assembly of approximately 250 units. Pilot program testing continues with good success. The company is in the critical phase of moving toward more sales and marketing focused efforts. Supporting Kevin/VetMeasure in achieving the funding goals will allow them to focus on business model implementation and best chances for commercial success.”
Ames Seed Fund is one of the region’s leading early-stage capital providers. The Ames Seed Fund has had some notable successes. For example, the Ames Seed Fund invested in Workiva which went public in 2014 and Newlink Genetics which went public in 2011.
Though Ames is a relatively small city in the Silicon Prairie, it consistently outpaces many of its larger rival cities. “By investing in VetMeasure, Ames Seed Capital continues to build on [its] 30-year tradition of supporting local entrepreneurs with sound business opportunities who intend to create jobs in the Ames and Story county market. We are proud to support Kevin, a serial entrepreneur in the Ames area, and VetMeasure, a company with a promising future.” Said John Hall, Director of Business Development at the Ames Economic Development Commission. For more information about VetMeasure, check out their website at http://www.vetmeasure.com.>
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