new zealand agritech insights report€¦ · agritech companies 10.0% of tin200 companies 4,956...

2020

NEW ZEALAND

Agritech Insights Report

Welcome

A WARM WELCOME TO THE TIN AGRITECH INSIGHTS REPORT 2020 – THE SECOND PUBLICATION IN TIN’S NEW SERIES OF NEW ZEALAND TECHNOLOGY SECTOR INSIGHTS REPORTS. Readers who are familiar with TIN will know that the goal of the annual TIN Report – which has tracked New Zealand’s most successful tech exporting companies for the past 16 years – is not just to identify how big and successful the sector is. It is also to understand what success looks like, and how the companies achieved that success so that they can be an example and inspiration for others to follow. That is what this Report is all about.

This is also why we were pleased to be approached by David Downs, in his role as Lead for the NZ Government’s Industry Transformation Plan (ITP) Taskforce, to produce this report. If New Zealand is to create a managed plan to grow the Agritech sector, it must firstly look at data that will help understand which companies have already been successful and why.

Agritech is one of the largest sub-sectors that we track, which is largely because it’s also one of the most enduring. Historically, farming was the crucible for New Zealand’s early entrepreneurial and innovation spirit. Legendary figures such as Bill Gallagher, inventor of the electric fence; Bill Hamilton, inventor of the jetboat; Colin Murdoch, the pioneering inventor of the disposable syringes and tranquilliser gun; and aviator Richard Pearse – all came from farming backgrounds. This rich heritage of innovation shows New Zealand’s agricultural and technological histories are inextricably linked.

Some of the oldest companies in the TIN Report are Agritech firms, with histories going back more than a century – and many of the 20 leading agritech companies in the TIN200 are distinguishable for their maturity and reliable product delivery.

However, in an ever changing world that is facing an increased range of challenges from surging populations and food production issues, to global pandemics, land use and climate change, the Industry Transformation Plan is needed to help primary industry evolve as one of the economic pillars of New Zealand, and meet the challenges of this new world.

Today, we have an opportunity to leverage our primary industries even further with the disruption of modern technology. The world sees New Zealand as a reliable producer of food, so if we can change the unit economics of food production and delivery, that’s transformational for the country.

What’s evident from this Report is that there are some very exciting opportunities that now exist for Agritech to leverage the experience of the wider tech sector to aid this transformation and harness global investment interest in NZ tech companies, while also moving the farming community towards engaging more with this new technology to add value and reduce costs.

I commend this report and the TIN team who prepared it. Our deep gratitude also to our sponsors and their representatives for their input, assistance, and support through the development of this Report, especially David Downs from NZTE, Simon Yarrow and Nicky Molloy from Callaghan Innovation, Arek Wojasz from MBIE, and Peter Wren-Hilton from Agritech NZ.

Finally, to the Agritech companies featured in this Report, congratulations on being part of the long history of New Zealand innovation. We wish you every success as you continue to grow and transform your industry, New Zealand, and the world for the better.

Ngā mihi

GREG SHANAHAN Managing Director,

Technology Investment Network

& THE TIN TEAM

01

The Ministry of Business, Innovation and Employment (MBIE) is the Government’s lead business-facing agency. Its contribution to improving the well-being of New Zealanders is summarised in its stated purpose: to grow New Zealand for all.

‘For all’ means all people have an opportunity to participate in and benefit from the economy. For MBIE, a successful New Zealand looks like:• Prosperous and adaptable people, sectors, and regions• People are skilled and engaged in safe and fulfilling work• Informed consumers and businesses interacting with confidence• Value is sustainably derived from the natural environment• A dynamic business environment fostering innovation and international connections.

Thanks to our Sponsors

Te Taurapa Tūhono | New Zealand Trade and Enterprise (NZTE) is the New Zealand Government’s international business development agency, supporting exporters in order to grow a productive, sustainable, and inclusive economy.

NZTE works with all kinds of innovative businesses, including food producers, Māori land trusts and iwi, tech startups, service providers, manufacturers, and more. NZTE has around 600 employees and 180 private sector advisors around the world who use their knowledge and connections to add value to ambitious New Zealand businesses who want to go global, for the good of New Zealand.

NZTE operates under the Crown Entities Act 2004, the Public Finance Act 1989, and the NZTE Act 2003, governed by a board of seven directors and four crown ministers, and is fully committed to the Treaty of Waitangi.

Callaghan Innovation exists to activate innovation and help businesses grow faster for a better New Zealand by partnering with ambitious businesses of all sizes, and providing a range of innovation and research and development (R&D) services to suit each stage of growth.

With a team including more than 200 of New Zealand’s leading scientists and engineers, Callaghan Innovation empowers innovators by connecting people, opportunities, and networks, and providing tailored technical solutions, skills and capability development programmes, and grants co-funding.

Callaghan Innovation also enhances the operation of New Zealand’s innovation ecosystem, working closely with government partners, Crown Research Institutes, and other organisations that help increase business investment in R&D and innovation.

RT HON Jacinda Ardern

HON Damien O’Connor

“NEW ZEALAND’S PLACE AT THE EDGE OF THE WORLD HAS BRED A UNIQUE WAY OF LOOKING AT CHALLENGES. WE STRETCH OURSELVES, GO BEYOND THE ACCEPTED WISDOM AND FOLLOW GOOD IDEAS WHEREVER THEY LEAD, AND OFTEN WE END UP LEADING THE WORLD. Isolation has driven us to become innovators, and we’ve had to be creative, practical, and ready to challenge convention. We’re carrying that approach forward in today’s connected world. The search for innovation, particularly in technology, never stops.

We are committed to the wellbeing of all New Zealanders by supporting our export economy and it’s great to see our technology companies playing a key role in this. I want to congratulate everyone helping put New Zealand at the cutting edge of technology and shaping our nation’s story of innovation.”

RT HON JACINDA ARDERN, Prime Minister of New Zealand (TIN Report Launch, 31 October 2019)

NEW ZEALAND’S LONG HISTORY OF INNOVATION IN THE PRIMARY SECTOR HAS ALWAYS BEEN SUPPORTED BY HOME-GROWN TECHNOLOGY – FROM REFRIGERATED SHIPPING TO ELECTRONIC ON-FARM MONITORING, TO USING SATELLITE IMAGERY TO IMPROVE PASTURE.

This excellent report highlights the contribution of the agritech sector to our primary industries, and as a growing export industry in its own right.

The Government is pleased to continue supporting this work with an $11.4m investment in the Agritech Industry Transformation Plan as part of Budget 2020.

This work will enable our bold vision of $44 billion growth for the food and fibres sector over the next decade – keeping us on the cutting edge in how we grow, prepare and market quality products fit for a better world, while actively protecting and enhancing our natural environment and looking after our people.

HON. DAMIEN O’CONNOR, Minister of Agriculture

Contents

01 Welcome Greg Shanahan

Rt Hon Jacinda Ardern / Hon Damien O’Connor / 03

Data Source and Key Terms / 04

05 New Zealand Agritech Sector Overview What is Agritech? / 06

The NZ Agritech Sector – The Big Picture / 07

Summary of TIN200 Agritech Companies / 08

TIN200 Agritech Companies Cost Metrics Overview / 09

2019 Key Markets for TIN200 Agritech Companies / 10

Key Insights into the TIN200 Agritech Companies / 12

12 Indepth: The CompaniesTIN200 Agritech Companies 2019 / 14

Agritech Companies in the Regions / 16

NZ’s Agritech Sector: A Plan for Industry Transformation / 17

The NZ Tech Sector: Responding to the COVID-19 challenge / 18

19 MavericksPeople: Sir William Gallagher / 20

Companies: Livestock Improvement Corporation / 22

People: Emma Parsons – Agrigate / 23

Companies: Bluelab / 24

25 The Eco-SystemNew Zealand Agritech Eco-System / 26

Who is Investing in NZ Agritech? / 28

Investor Profile: Finistere Ventures / 29

Game Changers: Where the Tech is Heading / 30

31 TIN200 Agritech Company ProfilesTIN200 Agritech Company Profiles / 32

39 Early Stage Agritech Companies DirectoryA Selection of Early Stage Agritech Companies in New Zealand / 40

BioLumic / 40

PICMI / Pastoral Robotics / 41

Early Stage Agritech Companies Directory / 42

About TIN / 48

0302 NZ Agritech Insights Report 2020

The NZ Agritech Sector Overview

05

PHOTO CREDIT: Paul Sutherland Photography

Data Source and Key Terms

Published annually, the purpose of the TIN Report is to quantify the economic significance of New Zealand’s globally focused technology industry by capturing key data on the country’s top 200 high-tech exporting companies, known as the TIN200.

The data under analysis in this inaugural Agritech Insights Report focuses on the companies in the TIN200 that were categorised under the Agritech secondary sector in the 2019 TIN Report, plus two companies that were categorised under Agritech as their tertiary sector.

Inclusion CriteriaTo qualify for inclusion in the TIN200, companies must:1. Originate in New Zealand*2. Retain a meaningful presence in New Zealand3. Operate in the ‘High-tech Manufacturing’, ‘ICT’, or

‘Biotech’ primary sectors4. Have developed their own technology-based

intellectual property5. Generate at least 10% of their revenues offshore

*Foreign acquired companies are included in the report only where they meet the above criteria, are not subsumed within the parent company, and still provide their own financial data.

Data SourceThe Survey ToolIn 2019, TIN directly requested data from approximately 1,000 companies. Data captured includes revenue and EBITDA[i], expenditure details, best business decisions, employee numbers, sales, and company ownership. Data is aggregated and trended to create an in-depth profile of the High-tech sector and its performance. Certain information is published in the TIN Report for each company[ii], while the rest[iii] is reported in aggregate to protect commercial sensitivities.

Data CollectionTIN maintains a database of technology companies in New Zealand, which is added to and updated on an ongoing basis. Annually, companies on this database are asked to submit key information in an online survey. In addition, TIN collects data from primary and secondary sources including business media, our sponsors, and industry groups. Where surveys are not returned or are incomplete, publicly available figures are used. If none are available, revenue is estimated[iv] based on staff numbers, revenue per employee ratios from comparable companies, and data supplied in previous years. Once the data gathering phase is complete, all companies are electronically sent a pre-publication check to ensure data accuracy. All companies are asked to confirm the information that is recorded, or to supply adjusted data.

In the analysis of company data, a number of aggregations are carried out. Primary and secondary sector analysis for relative

performance of industries, high growth companies, region and ownership structure, helps facilitate commentary around particular areas of growth.

Key TermsTIN – Technology Investment Network.TIN100 – The top 100 companies (1-100) ranked by revenue.TIN’s Next100 – The next 100 companies (101-200) ranked by revenue.TIN200 – The combined TIN100 and Next100 (1-200) companies ranked by revenue.EBITDA – Earnings before Interest, Tax, Depreciation, and Amortisation. It is an approximate measure of a company’s operating cash flow.CAGR – Compound Annual Growth Rate. It is the mean annual growth rate over a specified number of growth periods longer than one year.Investment-backed Private are firms that have received investment from venture capital, private equity and/or organised angel investor groups.Foreign-owned companies are firms that have 100% foreign-ownership.

Research LimitationsNot all companies included in this report chose to participate. Companies may choose to keep their revenue confidential during a commercially sensitive phase. TIN’s reports provide an industry overview of New Zealand’s top 200 export-focused high-tech companies, and do not exclude non-participants. Instead, an estimated revenue figure is published and overall analysis is carried out using that estimate. TIN considers all information to be correct at the time of printing and accepts no liability for factual errors. All companies mentioned in TIN publications may contact TIN to amend any incorrect information.

Limitation of continuity: As the companies in the TIN200 rankings vary each year, the historical data in this report only pertains to the 2019 companies, unless otherwise stated.

New Zealand Equivalents to International Financial Reporting Standards (NZ IFRS): Effective for reporting periods from 1 January 2019, IFRS 15 is a new accounting standard that introduces the inclusion of useful information related to revenues and cash flows. This will change how a significant number of TIN companies recognise revenue going forward. Within the TIN companies, some have adopted this standard within FY19 reporting, whilst others will adopt this standard from FY20. This change limits historic comparisons of the data and, where relevant, is noted in the text.

i. Financial year ends for the current report are almost exclusively: December 2018; March 2019; and June 2019. ii. Contact details, ownership structure, key products, highlights, and total revenue. Ownership is current to 31 August 2019. iii. Expenses, research and development activities, company issues, sales and employee numbers by region. iv. As indicated by an * in the company rankings and profile lists.


The NZ Agritech Sector The Big Picture

ICT High-Tech Manufacturing Biotech

5

2

13

A sample of the 109 Early Stage Companies

Pre-revenue - $4m

$4m - $50m

$50m - $200m

>$200m

Argenta Compac Sorting EquipmentNDA Group Tru-Test Group

Waikato Milking Systems

Gallagher Group

Livestock Improvement Corporation

Agrigate Autogrow DataPhyll Ltd Farm IQ Halter Knode Ltd Lanaco Mastaplex NuPoint Ltd PlusGroup Horticulture RH Innovation Ltd RipeTime RiverWatch Robotics Plus

Trackit Ltd Tagit Ubco Wine Grenade Woolchemy Zeddy

Simcro BBC Technologies Lonza Wyma Engineering (NZ)Dairy Technology Services Bluelab Trimax Mowing Systems

Figured South Pacific Sera Zee Tags TracMapWildeye BioStart

What is Agritech?

DEFINITION: Manufacturing, biotech, and digital based technology companies that are creating product, service, and value chain solutions for the primary sector (agriculture, horticulture, apiculture, and aquaculture), with the aim of improving yield, efficiency, profitability, sustainability, and quality.

Resource Management

Biotech

Aquaculture

Agriculture Horticulture Internet of Things

Drones

Sensors

Robotics / Automation

Earth Observation

Data

Advanced Machinery & Equipment

Precision Irrigation

Genetics Breeding

Processing for High

Value Products

Vertical Farming

TIN2

00 C

OM

PANI

ES

TOTAL AGRITECH REVENUE $1.4B

06 NZ Agritech Insights Report 2020 The New Zealand Agritech Sector Overview 07

TIN200 Agritech Companies Cost Metrics Overview

29.3%

% Companies

% Revenue

60.0%

1.8%

25.0%

68.8%

Summary of TIN200 Agritech Companies

Together, these firms generated $1.4B in revenue in 2019, which is 11.6% of the total TIN200 revenue and slightly higher than some other sectors with a higher number of companies. This reflects both the size and the maturity of the companies in the sector, with only two companies aged less than 15 years-old, and six with revenues over $100m.

High-tech Manufacturing companies in the Agritech sector generated just over two-thirds of the sector’s revenue ($964.6m), with large established companies like Gallagher Group, NDA Group, Compaq Sorting, and Tru-Test Group dominating the category.

Meanwhile, Biotech firms contributed a further 29% of the sector’s revenue, much higher than the TIN200

benchmark of 7.1%, demonstrating the relative strength of ‘Agri-Biotech’ as a sub-sector in New Zealand.

ICT companies in the Agritech sector are represented by just three companies (15%) in the TIN200. This is in stark contrast to the 47.5% of all TIN200 companies that fall into the ICT category, which generated 38.7% of TIN200 revenue. However, it is worth noting that just under half (47%) of the Early Stage companies (ie. those that fall below the TIN200 revenue threshold) in the Agritech sector are ICT companies – a clear reflection of the evolving nature, and continual modernisation of technology as it is used in agriculture today.

20Number of TIN200 Agritech Companies

10.0% of TIN200 Companies 4,956 Employ:

people globally

Revenue of TIN200 Agritech Firms by Category

$1.4B

High-tech Manufacturing

$964.6m

ICT $25.9m

Biotech $410.5m

Revenue Share and Number of TIN200 Agritech Companies by Category

3.3% of TIN200 Growth$37.3m Growth

(higher than the TIN200 average annual wage of $82,040)

$91,020 Average sector wage:

(TIN200 average company age is 29 years)

31years old

Average Company Age

(TIN200 5 year CAGR 8.9%)6.2%5-year CAGR

(higher than the $235,133 average for TIN200 companies)$282,690 Average revenue per employee:

$451.1m$ Invested in wages and salary:

$171.4m$ Invested in sales and marketing:

$97.3m$ Invested in research and development:

OF THE 200 COMPANIES IN THE 2019 TIN REPORT, 20 (OR 10%) ARE AGRITECH FIRMS.

$1.4BTotal Agritech Revenue

11.6% of TIN200 Revenue

High-Tech Manufacturing ICT Biotech

15.0%

THE NZ AGRITECH SECTOR EMPLOYS NEARLY 5,000 PEOPLE GLOBALLY WITH 57.6% OF THOSE IN NEW ZEALAND (2,852 PEOPLE). 2019 SAW EMPLOYMENT IN THE SECTOR RISE BY 6.6% (308 WORKERS) OUTSTRIPPING REVENUE GROWTH FOR THE SAME PERIOD (2.7%).

The 20 top Agritech firms’ investment in Sales & Marketing and R&D is relatively low in comparison to the TIN200. This may be a reflection of the mature nature of the companies and their focus on existing customers and fine-tuning of products.

Recent international acquisitions and consolidations in the sector were a contributing factor to the slower growth in 2019.

*Profitability is measured by EBITDA.

TIN200 Agritech Firms

Wages & Salary

Sales & Marketing

Research & Development

EBITDA

34.9%

32.2%

16.1%

12.2%11.1%

6.9%

12.0%13.2%

Cost Metrics as a % of Revenue


2019 Key Markets for TIN200 Agritech Companies

Asia

Middle East

Australia

New Zealand

Revenue: $176.8m Growth: -1.5%

Revenue: $1.9m Growth: 12.0%


Revenue: $63.1m Growth: -1.1%

North America

% of Revenue

24.4%Europe



% of Revenue

10.2% % of Revenue

4.5%% of Revenue

0.1%

% of Revenue

12.6%% of Revenue

42.7%

This is unsurprising given the reliance of the New Zealand economy on agriculture, but also suggests that New Zealand continues to be an excellent location from which to develop, test, and monitor products in market.

Unlike the wider TIN200, the second largest market for Agritech companies is North America (24.4%), with Australia (12.6%) and Europe (10.2%) ranking a distant second and third respectively. This

AGRITECH FIRMS TIN200Total Exports $803.3m / 57.3% $8.7B / 71.9%

Export Growth $22.9m / 2.9% $881.6m / 11.3%

is most likely a reflection of the maturity of the distribution chains that companies have established in North America and a stronger alignment of the products with the technology-intensive approach to agriculture that exists in North America.

Export growth is also being driven by the North American market, with Europe also showing a notable degree of growth at 5.5%. This traction in the European market has largely been driven by acquisitions in recent years by Datamars (Simcro, Tru-Test Group) and Tomra (BBC Technologies, Compac Sorting Equipment).

NEW ZEALAND IS STILL A KEY MARKET FOR AGRITECH EXPORTERS, AS COLLECTIVELY 42.7% OF THEIR REVENUE COMES FROM NEW ZEALAND.

TIN200 Export Revenues

Australia 25.7%North America 22.6%Europe 12.1%Asia 7.4%Rest of World 3.7%New Zealand 28.5%


In-Depth: The Companies

13

Key Insights into the TIN200 Agritech Sector

PHOTO CREDIT: Paul Sutherland Photography

THE DATA IN THIS REPORT IS BASED ON RESPONSES COLLECTED BY TIN IN ITS 2019 SURVEY OF NEW ZEALAND TECH COMPANIES, FIRST PUBLISHED IN NOVEMBER OF THAT YEAR, BEFORE THE DISEASE WE NOW KNOW AS COVID-19 EVEN HAD A NAME.

The unprecedented situation of the global pandemic that the world now finds itself in only half a year since has created such an upheaval in the world economy that any pre-2020 data must be viewed through the lens of this current situation.

Holding that in mind, we can still glean some vital insights from the 2019 TIN survey data, which can provide a baseline for the New Zealand Agritech sector to use as a key point of reference as it takes its next steps towards the challenges of a new world economy impacted by COVID-19.

2019 was already a challenging year for the Agritech sector, but profitability remained strongAs revealed in the 2019 TIN Report, the combined growth of Agritech companies in the TIN200 slowed to 2.3%, the slowest of any secondary sector in that year. Notably, this was down from the 15.0% growth rate in 2018. Despite this slower growth, the profitability of the TIN200 Agritech companies in 2019 was still strong, with a combined EBITDA of 13.2%, up 10.2% from the previous year.

High-tech Manufacturing dominated the sector, but shifts are evidentHigh-tech Manufacturing companies in the Agritech sector generated just over two-thirds of the sector’s revenue ($964.6m), with large, long-established companies like Gallagher Group, NDA Group, Compaq Sorting, and Tru-Test Group dominating the category. The challenge for the sector is how to rapidly scale these businesses. However, in this environment, it appears the general focus for new tech companies is shifting towards ICT solutions, reflected in nearly half (47%) of Early Stage companies represented in this Report focusing on this area.

Consolidation and acquisitions have slowed growthThe Agritech sector has seen considerable changes in company ownership over the past few years, with several of the largest TIN200 Agritech companies being acquired by large offshore interests, particularly from Europe. In the past three years, Norwegian company Tomra has acquired two of NZ’s largest automated fruit sorting companies, Compac Sorting Equipment, and BBC technologies. As a result of Datamars’ partial acquisition of Tru-Test Group, the company has now been split into two entities; Tru-Test Group and Dairy Technology Services, the latter of which remains privately owned. This considerable consolidation and acquisition activity in the sector is a likely factor for the slowing of this traditionally high-growth market in 2019.

COVID-19 is set to have a major impact on the Agritech sector, but clear opportunities existLike every other technology sub-sector in the TIN200, Agritech is grappling with the impacts of the global COVID-19 pandemic on its day-to-day business and export prospects. However, with 42% of revenue already coming from local sales in 2019, New Zealand Agritech companies clearly have a strong base to work from in recalibrating and refocusing their export efforts in 2020. What’s more, with New Zealand’s strong global reputation as a reliable food producer, opportunities exist for Agritech companies to help the primary industries leverage this in ways that will add more value and help earn more for our produce.

Agritech as a sector is ripe for transformation In 2019, the 20 top Agritech firms’ investment in Sales & Marketing and R&D was relatively low in comparison to the rest of the TIN200. While this is likely a reflection of the mature nature of the companies and their focus on existing customers and fine-tuning of products, it does also hint that the sector is ripe for transformation.

Now is the time for disruptionAs has been seen in comparable sectors like HealthTech, collaboration will be more crucial than ever if disruption is to take place. There are promising signs with significant foreign investment interest in emerging companies such as Robotics Plus and Halter. In addition, there is an extensive pipeline of Agritech firms indicating we have an expanding eco-system, with the skill set and capacity to nurture them. We have also seen early stage companies attract the attention of both domestic and international investors, a critical ingredient for growth. The path forward for the Agritech sector may not be as clear at present, hence the importance of an Industry Transformation Plan to progress a clear forward vision for New Zealand agritech.

The TIN survey in 2020 will include a range of questions for NZ tech companies on how they are dealing with the global pandemic. Results from this survey will be published in the 2020 TIN Report, available in November this year. For more information on how your company can participate in this survey, visit www.tin100.com/faq/ and request a survey.


TIN200 Agritech Companies 2019

2019 AGRITECH RANK

NAME DESCRIPTION 2019 TIN200 RANK

PRIMARY SECTOR FORMATION OWNERSHIP 2019 REVENUE

($000)

2018 REVENUE

($000)

GROWTH (%)

GROWTH ($000)

2019 STAFF

EMPLOYED

PHYSICAL CITY WEBSITE

TIN100 Companies

1 Gallagher Group Animal management, security, and fuel systems.

5 High-tech Manufacturing 1938 Private $271,000 $250,000 8.4% $21,000 1029 Hamilton www.gallaghergroup.co.nz

2 Livestock Improvement Corporation

Agricultural and software solutions. 6 Biotech 1988 Public $246,561 $236,400 4.3% $10,161 771 Hamilton www.lic.co.nz

3 NDA Group Specialty manufacturing and servicing of industrial storage and process vessels.

11 High-tech Manufacturing 1997 Investment-backed Private

$174,000 $162,838 6.9% $11,162 525 Hamilton www.nda.co.nz

4 Compac Sorting Equipment Sorting and automation solutions for the produce industry.

16 High-tech Manufacturing 1984 Foreign Owned $151,900 $145,400 4.5% $6,500 527 Auckland www.compacsort.com

5 Argenta Animal health products. 21 Biotech 2006 Private $114,226* $114,000 0.2% $226 420 Auckland www.argentaglobal.com

6 Tru-Test Group Agritech products and services. 24 High-tech Manufacturing 1964 Foreign Owned $107,032* $139,032 -23.0% -$32,000 548 Auckland www.tru-test.com

7 Waikato Milking Systems NZ Milking equipment manufacturer. 41 High-tech Manufacturing 1992 Investment-backed Private

$67,640* $61,750* 9.5% $5,890 152 Hamilton www.waikatomilking.co.nz

8 Simcro Design and manufacture animal health delivery systems.

52 High-tech Manufacturing 1992 Foreign Owned $49,637* $49,176 0.9% $462 190 Hamilton www.simcro.com

9 BBC Technologies Advanced vision sorting and packing equipment.

58 High-tech Manufacturing 2000 Foreign Owned $44,110 $35,956 22.7% $8,154 141 Hamilton www.bbctechnologies.com

10 Lonza Chemical company developing products to meet specific agrichemical and timber treatment requirements.

68 Biotech 1988 Foreign Owned $35,352 $35,966 -1.7% -$614 54 Central North Island www.lonza.co.nz

11 Wyma Engineering (NZ) Post-harvest vegetable handling equipment and solutions.

78 High-tech Manufacturing 1991 Private $31,000 $34,000 -8.8% -$3,000 145 Christchurch www.wymasolutions.com

12 Dairy Technology Services Dairy technology services. 92 High-tech Manufacturing 1964 Private $25,000* $32,000* -21.9% -$7,000 75 Hamilton www.dairy.tru-test.com

Next100 Companies

13 Bluelab Monitoring and control systems for domestic and commercial plant growers.

106 High-tech Manufacturing 2004 Investment-backed Private

$19,400 $13,900 39.6% $5,500 64 Central North Island www.bluelab.com

14 Trimax Mowing Systems Manufacturer and marketer of agricultural mowing equipment.

131 High-tech Manufacturing 1983 Private $14,364* $10,550* 36.1% $3,814 60 Central North Island www.trimaxmowers.com

15 Figured Online financial managment software for farmers.

138 ICT 2014 Investment-backed Private

$12,554* $10,000* 25.5% $2,554 58 Auckland www.figured.com

16 South Pacific Sera Animal-derived biologicals and pharmaceutical contract manufacturer.

147 Biotech 1988 Private $10,462* $8,810* 18.8% $1,652 57 Canterbury / Upper South Island

www.southpacificsera.co.nz

17 Zee Tags Livestock identification. 157 High-tech Manufacturing 1991 Foreign Owned $9,502* $9,238* 2.9% $264 40 Auckland www.zeetags.com

18 TracMap GPS guidance and mapping system. 174 ICT 2005 Private $6,800 $5,800 17.2% $1,000 50 Otago / Southland www.tracmap.com

19 Wildeye Internet of Things based technology for agriculture, environmental, and water monitoring.

178 ICT 2002 Private $6533* $5000* 30.7% $1,533 35 Auckland www.mywildeye.com

20 BioStart Biological fermentation products for use in agriculture and horticulture.

197 Biotech 1994 Private $3,934 $3,900 0.9% $34 15 Auckland www.biostart.co.nz

*Estimated revenue.

In-Depth: The Companies 1514 NZ Agritech Insights Report 2020

Agritech companies in the Regions

129Companies Central North Island

24Hamilton

20New Plymouth

2

Auckland

37

Wellington / Lower North Island

Canterbury / Upper South Island

Otago / Southland

2

21

9

Locations of the TIN200 Agritech Companies

AUCKLAND Tru-Test GroupCompac Sorting EquipmentArgentaZee TagsWildeyeBioStartFigured

CENTRAL NORTH ISLAND LonzaBluelabTrimax Mowing Systems

HAMILTON Gallagher GroupLivestock Improvement CorporationNDA GroupWaikato Milking Systems NZSimcroBBC TechnologiesDairy Technology Services

CANTERBURY / UPPER SOUTH ISLAND South Pacific SeraWyma Engineering (NZ)

OTAGO / SOUTHLAND TracMap

NZ’s Agritech Sector: A Plan for Industry Transformation

IN JULY 2020, THE GOVERNMENT WILL RELEASE ITS REFOCUSED APPROACH TO INDUSTRY POLICY. THE CORE OF THIS NEW APPROACH IS THE DEVELOPMENT OF SECTOR PLANS OR INDUSTRY TRANSFORMATION PLANS (ITPs) FOR SELECTED SECTORS OF THE ECONOMY WHERE SIGNIFICANT GROWTH OPPORTUNITIES EXIST, OR FOR SECTORS THAT ARE FACING SIGNIFICANT DISRUPTION AND NEED SUPPORT TO RESET AND TRANSITION, OR THOSE SECTORS THAT MAY NOT BE AREAS OF STRONG GROWTH POTENTIAL, BUT NEED TO BECOME MORE RESILIENT AND/OR SUSTAINABLE.

An ITP is a long-term strategy developed with key stakeholders across the wider sector eco-system that provides a clear picture of the challenges and opportunities faced by each sector, agrees on a long-term vision, and sets out an action plan that spans a wide range of areas, including research, science and innovation, trade, education, and skills.

Agritech was selected as a priority sector because of its importance to New Zealand’s transition to a highly productive, low-emissions future, its adjacency to our strong food and fibre sector, and our existing expertise and investment in this area. The emergence of Agritech New Zealand and their role in providing a cooperative partner for the Government in this sector was also an important factor.

Through the ITP document, the Government aims to provide the Agritech sector with support to accelerate its growth, attract necessary investment, increase commercialisation of New Zealand agritech intellectual property (IP), address global opportunities and increase exports, develop needed skills and address regulation, and data interoperability issues.

Part 1 of the document will present the context, challenges and opportunities for the sector. Part 2 will set out an agreed vision for the sector, and outline a response to the issues presented in Part 1, focusing primarily on the factors that industry, government, workers, and the broader Agritech eco-system can collaborate on together. The final section, Part 3, will outline an action plan consisting of High Impact Projects and a broader eco-system development plan, to help the Agritech sector achieve its vision.

We know that a ‘business as usual’ approach will not result in transformation. Funding the activities and initiatives resulting from this work will be a critical part of ensuring the actions lead to meaningful growth. Reflecting this, the Government has committed $11.4m as part of Budget 2020 to implement the action plan of this agritech ITP. This will allow us to now proceed in earnest and in partnership with industry to make this plan a reality and start progressing towards our vision for New Zealand agritech.

DAVID DOWNS, Agritech ITP Taskforce Lead

The above summary is adapted from the NZ Government’s Industry Transformation Plan for the Agritech sector, for which this TIN Agritech Insights Report has provided supporting information. To access the full plan, go to: https://www.mbie.govt.nz/dmsdocument/10750-growing-innovative-industries-in-new-zealand-agritech-in-new-zealand-industry-transformation-plan-

“New Zealand has the opportunity to be a world leader in this area, and to see significant economic benefit from our activities, while also using technology to reduce our impact on the land. Agritech is right at the nexus of New Zealand’s past and future.”

HON PHIL TWYFORD Minister for Economic Development

DAVID DOWNS, Agritech ITP Taskforce Lead

(20 x TIN200 and 109 x Early Stage companies)

In-Depth: The Companies 1716 NZ Agritech Insights Report 2020

The NZ Tech Sector: Responding to the COVID-19 Challenge

MavericksThe technology sector in New Zealand has a long tradition of

combining intellectual smarts with deep practical skills. As key contributors to this tradition, TIN’s Mavericks

represent the Kiwi characteristics of commercial and technical innovation, and pioneering leadership.

19

Photo courtesy of Livestock Improvement Group.

As companies focus on the reality of the current global pandemic situation, we should not be afraid to look for ways that we can harness the ‘slingshot effect’ that technology offers as we come out from under the rock of COVID-19. Though painful, it also presents a unique opportunity for New Zealand tech businesses to emerge from this not only intact, but on a healthy growth trajectory.

GREG SHANAHAN Managing Director, TIN

The Agritech New Zealand Insights SurveyThe Agritech New Zealand Insights Survey took place between Tuesday, 31 March and Thursday, 9 April 2020 with the purpose of obtaining a better understanding of the New Zealand agritech sector’s resilience and business continuity planning, both during the COVID-19 lockdown and beyond. The results were designed to help Agritech New Zealand identify new measures that might assist kiwi agritech businesses navigate New Zealand’s planned economic recovery.

The respondents’ answers to the open and closed ended questions highlighted several major areas of concern. These included, access to funding, access to customers, and access to markets.

Full results of the Agritech NZ survey and can be viewed at www.agritechnz.org.nz

What are the biggest risks to your current business activity?

Based on the results of the survey, Agritech New Zealand believes that the closed borders will significantly impact the ability of agritech businesses to grow their offshore sales in the short to medium term. To compensate for the inability of entrepreneurs to travel overseas, a novel set of support mechanisms need to be put in place to ensure that international markets remain open to New Zealand’s agritech sector post the relaxation of border controls.

It is clear that novel solutions also need to be considered to address the funding issue. The unprecedented nature of the COVID-19 pandemic means that many potentially high-growth New Zealand Agritech businesses have been exposed at the most important part of their funding cycle.

Agritech New Zealand is delighted by the NZ Government’s Budget commitment of $11.4m to support the Agritech Industry Transformation Plan. We believe it can create significant opportunity for New Zealand’s agritech businesses, both short-term and long-term.

PETER WREN-HILTON Executive Director, Agritech NZ

Access to customers

Access to staff

Access to supply chain

Access to funding

50.53%

35.8%

Other

32.6%28.4%

18.9%

*Total respondents 95


THE CURRENT CHALLENGES THAT THE GLOBAL ECONOMY IS FACING IN RELATION TO THE ONGOING IMPACT OF THE COVID-19 PANDEMIC CANNOT BE UNDERESTIMATED. However, as difficult as they have been, I am encouraged by the leadership and unity that has been displayed in New Zealand in response, which is a positive sign that NZ’s prosperity, growth, and harmony will continue beyond this crisis.

I am also encouraged by the fact that 2019 saw the most successful year on record for New Zealand’s technology export sector, reflected in the 2019 TIN Report. Over the past 20 years, the technology sector has helped create an exciting diversity in our export economy, and grown to the point that it is our third largest export earner.

What’s more, many of the companies that have appeared and succeeded over that time – including a significant number operating in the agritech space – are strong, robust, innovative, and well placed to continue to be so in an ever-changing, unpredictable world.

Tech has succeeded as an industry in New Zealand because of the positive inclusive dialogue that is a hallmark of our society, which in turn is imbued in our companies. This translates to clarity of purpose and focus in delivery of our technology solutions.

It’s why I’m confident that a post COVID-19 recovery will not only deliver a resurgent tech sector but a more confident, prosperous New Zealand that is prepared to navigate new global realities. It will bring no end of challenges, yes – but in such a world, we are increasingly the authors of our own destiny.

People: Sir William Gallagher

WHEN THINKING ABOUT THE GREATEST NZ AGRITECH ‘MAVERICKS’ – DEFINED BY TIN AS REPRESENTING THE KIWI CHARACTERISTICS OF COMMERCIAL AND TECHNICAL INNOVATION, AND PIONEERING LEADERSHIP – THE NAME THAT INVARIABLY LEAPS TO MIND IS SIR WILLIAM GALLAGHER.

Now famous, the tale of Joe the horse in the early 1930s was where Gallagher Group began.

Fed up with the horse scratching his rump on their Essex car, William Gallagher senior decided to run a voltage across it so Joe would get a shock next time he tried to scratch. Although they never saw it happen, one day the wire had been triggered and Joe the horse never came near the car again. From this point on, Gallagher senior began his work making electric fences.

Born in Hamilton in 1941, Sir William Gallagher ( junior) was the third child in a family of five. He always wanted to go into the family business – Gallagher Engineering – making electric fences, top dressers, and other agricultural machinery. Throughout the 1950s he worked holidays and weekends doing odd jobs at the company.

“I basically had ten years coming through [before I joined the business] so I was a fitter and turner, a welder, an electrician – you name it, I had done it,” he says.

The development of the electric fence changed the agricultural industry completely, allowing farmers to strip-graze and better manage their stock. It took a few years for the business to take off however, with William Gallagher senior being seconded to work in the ammunitions factory as a maintenance engineer during World War II.

In 1962, age 21 and having studied mechanical engineering at Auckland University, Sir William Gallagher joined his father’s company full-time. Ten years later when his parents went to England for six months two years in a row, he managed the company, and says this was when he began to take over as managing director.

“Over the sixties when I joined the company, electric fencing changed quite dramatically,” Gallagher says, “but it was 1970 before we really got it commercial. I started looking into exporting at that point and my father said to me, well it’s never going to work but you’re welcome to try.”

Following the start of their exports, between 1972 and 1976, turnover doubled each year. By this time the fences had around five or six orders of magnitude more energy, and this increase allowed the company to start eyeing up larger four-legged animals in the late seventies.

After spending $100m on physical palisade fence to keep elephants out of their palm oil plantations, only to have the fencing erode in monsoon season and be pushed over by the elephant’s Malaysia’s Federal Land Development Corporation was looking for a second option.

“Someone there had read about our electric fencing,” Gallagher says, “and so they called us up. We did about 5,000km of electric fencing for them and that really got it rolling.”

This introduction into wildlife and game management quickly escalated with contracts in Sri Lanka, Kenya, South Africa, Africa, and Nairobi to name a few. Gallagher’s systems have since developed further with smart technology allowing sensors along the fence line to check integrity of the fence, from up to ten kilometers away. Gallagher says his next move into security for people in 1988, was a logical one.

The company’s security systems have since been installed around the world, and are used in prisons, border security, and politically important buildings.

Sir William has now worked in the company for 65 years, leading it for more than 45. Today the company sells into 140 countries, and when not working, Sir William is travelling around the world meeting suppliers and customers. The word is he’s visited 174 countries in his life, so far.

He may have the luxury of being able to travel and relax now, but says it was not always so.

“We have our ups and downs, it’s not all great but we’re like the duck – calm on top but paddling like hell underneath,” he laughs.

When discussing good management, every point seems to be pulled directly from the bible of business – good people, good leadership, delegation not abdication – to name a few of his principles. Getting good people is his number one key point.

When asked about advice for aspiring business leaders he says, “Stick to a specialty and become number one at it, and then take it to the world.”

*This profile has been adapted from a Mavericks profile that originally appeared in the 2015 TIN Report, written by Holly Ryan.

His company, Gallagher Group, appeared on the very first TIN company listing in the inaugural Report in 2005, and has ranked highly on the TIN200 list every year since – often in the top ten – and continues to be the most successful agritech exporting company in New Zealand, with revenues in excess of $300m in 2020.

For this inaugural NZ Agritech Insights Report, it is fitting that we revisit the first time we profiled Sir William as a TIN Maverick, as he continues to be a leading voice of advocacy for the sector and an inspiring example of success.

His passion for the business is obvious, and it is this that has helped grow Gallagher Group from a small ten-person company in 1962 when he joined, to a global leader with more than 1000 staff today.

His success in business also saw him knighted in 2010 and awarded an MBE in 1987 followed by a Companion of New Zealand Order of Merit in 1998. He was also awarded the prestigious Excellence in Communication Leadership award in 1996 – the first time in its history that it had been awarded outside of North America.

Gallagher’s best piece of advice? Go around with eyes and ears open.

“Life is far too short to make all your own mistakes so learn from the others.”*

SIR WILLIAM GALLAGHER (KNZM, MBE, HonD.) CEO, Gallagher Group.

Mavericks 2120 NZ Agritech Insights Report 2020

solutions for the wider agritech sector – and it’s still very early days.”

While growing the Agrigate team from an initial three roles to thirteen over the last three years, Emma has also managed to grow her own family of two children, one of whom was born just four months before her appointment to the CEO role.

“My family definitely sustains me … while also depleting me!” she jokes. “Having two small kids did mean those early days at Agrigate were kind of blur, but I have an amazing, supportive partner and with a great team effort, we just made it happen.”

Talking with Emma, one quickly gets the impression that her career as a leader in the Kiwi tech sector has only just begun, and that she still has much to accomplish.

“I want to continue to work to ensure that our farms are sustainable and profitable, and that we can take that value to the world to create thriving communities back home. I’m also keen to continue to support collaboration within the agritech eco-system both in New Zealand and with our Australian neighbours.

“The sector has big challenges ahead, particularly with the impacts of climate change, water scarcity and quality decline, and understanding our dependence on ecological systems – and agritech will play a critical role in addressing these challenges.”

Emma is also very clear about why she believes New Zealand is a great place to grow an Agritech business.

“New Zealand farmers are highly engaged in farming as a business as well as a lifestyle – this means that we are a great test ground for people who are willing to try new things, and I think that despite the increasing urban-rural divide, we have a ‘grounded-ness’ to our approach. But we have a long way to go in harnessing the diversity of our communities and channelling that into our rural sector so we can grow the pie for all.”

So, what’s her advice for young entrepreneurs looking to develop new agritech in New Zealand?

“Do everything you can to collaborate and find partners with whom you can work – and win. Focus on challenges that are globally scalable, and leverage all the support, people and resources that our amazing New Zealand technology eco-system has to offer.”

People: Emma Parsons, CEO of Agrigate

LIC IS A FARMER-OWNED AGRITECH AND HERD IMPROVEMENT COOPERATIVE THAT PROVIDES A RANGE OF SERVICES AND SOLUTIONS TO IMPROVE THE PRODUCTIVITY AND PROSPERITY OF PASTORAL DAIRY FARMERS. THIS INCLUDES DAIRY GENETICS, SAAS HERD MANAGEMENT SOFTWARE, MILK TESTING, DNA PARENTAGE VERIFICATION, DIAGNOSTIC TESTING, FARM AUTOMATION, AND FARM ADVISORY SERVICES.

With origins dating back to 1909, Livestock Improvement Corporation (LIC) has a long history of providing world-leading precision farming innovations for the dairy industry. For the past 100 years, LIC has made breakthroughs in genetics, reproduction, software, and automation. As a result, New Zealand herds have some of the highest rates of genetic gain in the world.

LIC has ranked at sixth place on the TIN200 companies list for several years, and was the top exporter in the Biotech sector in 2019. This success has depended on LIC keeping its global edge in pastoral dairy farming information by developing a ‘startup culture’ mindset, while broadening access to new data sets to meet future needs and challenges.

The company has developed an export strategy to become the leading supplier of semen for grass-fed pastoral dairy across the UK, Ireland, South Africa, and South America. All of LIC’s high value semen products are now exported, including sexed semen for the first time in 2020.

Described by CEO Wayne McNee as “the DNA of New Zealand’s dairy industry”, LIC has played a key role in helping New Zealand retain its spot as the leader in the global pastoral dairy system.

What have been the key factors that have contributed to your company’s export success? “LIC’s export success has been driven by our innovation-led growth strategy and our ongoing commitment to pushing the technological boundaries to deliver genetic gain to our farmers.

Information has been, and always will be, critical to what we do as an agritech co-op. LIC is continually focused on making its data work harder to drive better insights to inform and evolve New Zealand’s dairy herds and products and ensure we remain the best in the world.

Farmers in our key export markets farm their cows on pasture, just like we do in New Zealand. As a leader in breeding dairy cows for grazing systems, LIC is proud to provide these farmers with world-class genetics that enable them to breed the best cows for their farming systems.”

What are the benefits of being based here in New Zealand? “Being based in New Zealand means LIC can quickly develop, test, and commercialise products, such as our SPACE™ pasture management system. Our cooperative structure means that we are close to our customers, who all contribute to innovation through data sharing and through use of our herd improvement services.

WAYNE MCNEE, Chief Executive, LIC

EMMA PARSONS, CEO, Agrigate

Companies: Livestock Improvement Corporation

We are currently implementing state of the art genomics assessment tools at our laboratories in Hamilton, which will enable us to accelerate our research and offer new genomic testing services to farmers in New Zealand.

Like all sectors, the dairy industry needs to keep evolving to meet new challenges head-on and maximise new opportunities. That is why New Zealand’s farmers are sharpening their focus even more on improving cow productivity and efficiency, and why our innovation-led growth strategy – built off a global understanding of the factors driving change in global dairy markets, and here in New Zealand – is helping keep farmers ahead of the game.”

What are the main challenges your company will face over the next 12 months?“Over the next 12 months, one of our biggest challenges will be continued uncertainty facing the global dairy industry due to COVID-19, particularly if there are disruptions to export markets or any issues with supply chain hold-ups for dairy products or our own exports.

Farmers are facing additional challenges with a lower milk price looming and increasing climate and other environmental considerations, which means getting more efficiency from less cows is more critical than ever.

We’re delivering on our strategy by providing leading genetic options and management tools to enable farmers to meet their environmental and animal care requirements – now and into the future.”

GROWING UP ON A DAIRY FARM IN PATEA, SOUTH TARANAKI, WITH A FATHER WHO WAS AN ECOLOGIST AS WELL AS A HIGHLY TECHNICALLY SKILLED FARMER, EMMA PARSONS LEARNED A KEY LESSON THAT SHE HAS APPLIED IN BOTH HER LIFE AND CAREER: THE IMPORTANCE OF THINKING HOLISTICALLY.

“Undoubtedly, my family and my home town have been my greatest influences,” she says.

“Thanks to them, I developed a very practical, holistic approach to farm sustainability problems and the ways in which technology, in its broadest sense, helps and hinders those outcomes.”

Emma has worked in the New Zealand dairy industry for nearly two decades, beginning her career at Fonterra in the ingredients sector of the business in 2002.

In the years following, she took on a variety of company roles both in New Zealand and internationally including four years in Latin America, all the while applying the same approach she had learned in South Taranaki to her work at the dairy giant.

On returning to New Zealand in 2010, Emma’s education in both environmental science and commerce aligned well for her appointment to a new role responsible for setting up and managing Fonterra’s first ever sustainable dairying field team.

The next seven years saw Emma move into increasingly senior roles at Fonterra, driving the broader sustainability goals of the company and leading initiatives in responsible dairying.

With such experience, her appointment to the role of CEO for Agrigate was a natural next step up.

“My holistic approach to farming means I see agritech more broadly than just apps and devices. For me it’s about systems, processes, practical tasks, simplification, and connectivity, and my end-to-end view of the value chain is what I believe set me up well to lead Agrigate.”

Agrigate is a joint venture of Fonterra Farm Source and Livestock Improvement Corporation (LIC). It was built around the idea of harnessing the wealth of information that was being generated by an increasing variety of data sources connected to Fonterra’s dairy network.

After what had been nearly a decade of development, the resulting tool aimed to enable farmers “to make faster and smarter decisions on one, easy-to-use online dashboard”.

“There was a lot of work to get Agrigate off the ground, and it was launched initially to great interest. We learned very quickly though that farmers wanted to be able to share data with each other rather than simply view a dashboard,” says Emma.

Under her guidance, the organisation dug deep into solving the problems that farmers wanted addressed, and pivoted the business accordingly.

“Agrigate today is a very different business to where we started. It’s now focused on the transfer of data between organisations and data integration with partners, which is unlocking new

Mavericks 2322 NZ Agritech Insights Report 2020

thinking and customer engagement, which enables us to shape our products around understanding customer problems, and then helping them overcome them.”

What do you see are the benefits of being based here in New Zealand?“Being based in New Zealand enables us to develop great relationships with growers to run trials for our products, especially here in the Bay of Plenty. This close proximity means R&D is much more affordable.

We’ve also found that being based in New Zealand makes us a desirable place for international talent, attracting some of the best minds from around the world. For example, every member of our software engineering team, is an immigrant – which shows how that opportunity to come to New Zealand is a real benefit for driving the company’s innovation forward.”

What are the main challenges your company will face over the next 12 months?“COVID-19 is obviously the greatest challenge, as it means we need to look at alternatives to traveling in person to international markets for sales and marketing. As it could be another year until we can even consider overseas, we are now building up our capabilities in doing virtual training, remote team meetings, and other things to maintain that all-important direct contact with people.

At the same time, the cost savings that are apparent from not having to travel is creating new opportunities. We will be opening up more online channels, and participating in virtual trade shows to engage with potential customers. While it will definitely be a challenge, it will also be interesting to see how these new ways of doing business translate into quality leads.”

The Eco-System

25

Companies: Bluelab

OPERATING FOR 30 YEARS, BLUELAB HAS BECOME KNOWN AS THE INDUSTRY STANDARD FOR HIGH-PRECISION AND INNOVATIVE MEASUREMENT TECHNOLOGY. THEIR AWARD-WINNING PRODUCTS MONITOR AND CONTROL THE FUNDAMENTAL PARAMETERS OF GROWING SUCCESS – INCLUDING NUTRIENT, PH, MOISTURE, AND TEMPERATURE – IN CONTROLLED ENVIRONMENT AGRICULTURE (CEA).

Following its first official appearance on the TIN200 list in 2017, Bluelab increased its revenue by $5.5m to $19.4m in 2019, earning its debut on the Absolute IT Supreme Scale-Ups winners list in the TIN Report. This was fuelled by increased production capabilities and sales within the USA. The company was also acclaimed in that year with the NZ International Business Award for Excellence in Innovation.

In June 2020, Bluelab launched its rebranding, revealing a modern new look as well as a brand-new purpose: the art of growing for a healthier world. One of Bluelab’s biggest goals is to elevate the standard of growing through newly bolstered education and innovation initiatives, ultimately bringing an end to unsustainable growing practices.

When CEO Greg Jarvis purchased the company known as NZ Hydroponics in 2000, it wasn’t really a tech company. The business only sold one electronic product amidst its inventory of grower supplies, nutrients, and irrigation fittings.

Over the next four years, Jarvis divested the company of its hydroponics offerings to focus on the technology opportunity in electronic meters – and fittingly renamed the company Bluelab. Since then, the company has grown steadily to become the industry standard for highly accurate and robust measurement tools.

What have been the key factors that have contributed to your company’s export success? “The key factor has been people. Firstly, we built a team that could help us realise our global ambitions, got people on the ground in our target export markets, set up our first service team in the US, and added sales staff in different states.

The next step was looking at where our innovation gaps were, then putting a team in place that could develop our products around that approach. Appointing Jono Jones as Chief Product and Innovation Officer moves us forward in our design

GREG JARVIS, Chief Executive, Bluelab

Photo courtesy of Bluelab.


New Zealand Agritech Eco-SystemA broad sample of the organisations that together form New Zealand’s Agritech eco-system.

SUPPORT & INDUSTRY

NETWORKS

CAPITAL & FUNDING SUPPORT

ACADEMIA & RESEARCH

INTERNATIONAL EXPERTS &

COLLABORATORS

EXPERTISE & SERVICESGOVERNMENT

GOVERNMENT MINISTRIESMinistry of Business, Innovation

& Employment

The Ministry of Foreign Affairs and Trade

Ministry of Primary Industries

Ministry for the Environment

Ministry of Fisheries

GOVERNMENT SUPPORT AGENCIESCallaghan Innovation

New Zealand Trade & Enterprise (NZTE)

Biosecurity NZ

Operational Solutions for Primary Industries (OSPRI)

Tertiary Education Commission

INITIATIVESAgritech Industry Transformation Plan

The Pre-Seed Accelerator Fund (PSAF)

Regional Research Institute Fund

Strategic Science Investment Fund

Provincial Growth Fund (PGF)

Sustainable Food and Fibre Futures (SFF Futures)

Green Investment Fund

UNIVERSITIES / EDUCATORSMassey University

University of Auckland

Auckland University of Technology

Victoria University of Wellington

University of Canterbury

University of Waikato

University of Otago

Lincoln University

Australia New Zealand Agritech Council

Global Research Alliance on Agricultural Greenhouse Gases

Intergovernmental Panel for Climate Change

Cairns Group Farm2050

Western Growers EvokeAG

World Agri Tech Innovation Summit (US)

UK Department of International Trade

Enterprise Ireland

FUNDERSCallaghan Innovation

Sprout WNT Ventures Ftech

MasterPlan Finistere Ventures

Agricultural and Marketing Research and Development Trust

Marsden Fund

The Endeavour Fund

INITIATIVESThe New Zealand Growth Capital Partners

(NZGCP)

EVENTSFieldays

MobileTech AG

INSIGHTSTechnology Investment Network

(TIN)

INTELLECTUAL PROPERTYJames & Wells

Baldwins

AJ Park

Potter IP

CONSULTANTSAgFirst

INDUSTRY NETWORKSAgritech NZ Apiculture NZ

Aquaculture NZ Horticulture NZ

Vegetables NZ Inc (VNZI) Summerfruit NZ

NZTech Alliance Waikato Farmers Trust

Federated Farmers

Soil & Health Association of New Zealand

NZ Young Farmers

The New Zealand Society for Viticulture and Oenology (NZSVO)

RESEARCH INSTITUTESAgResearch NZ Ltd

DairyNZ Beef+Lamb NZ

New Zealand Pork Plant & Food Research

Manaaki Whenua (Landcare Research)

National Institute of Water and Atmospheric Research (NIWA)

Scion Research

NZ Agricultural Greenhouse Gas Research Centre

RESEARCH INSTITUTESPastoral Greenhouse Gas Research

Consortium (PGgRC)

PlantTech Bragato Research Institute

Cawthron Institute

Lincoln Agritech

The New Zealand Institute of Agricultural and Horticultural Science (NZIAHS)

The Institute of Environmental Science and Research (ESR)

The Eco-System 2726 NZ Agritech Insights Report 2020

Who is Investing in Agritech in New Zealand?

Investor Profile: Finistere Ventures

IN 2005, FINISTERE VENTURES WAS FOUNDED UPON THE ETHOS OF HELPING BUILD THE LEADING AGRITECH COMPANIES POWERING THE NEXT GREEN REVOLUTION.

NEW ZEALAND’S AGRITECH COMPANIES ARE ATTRACTING THE ATTENTION OF INTERNATIONAL INVESTORS.

Co-founders Arama Kukutai and Spencer Maughn have constructed a portfolio consisting of 16 companies operating across the Agritech sector. At the end of 2016, Finistere raised a second fund of $150 million to explore investment into global centres of excellence. The company is currently investing its third fund.

As a native of Ngaruawahia, Kukutai stated in 2019 that he has “a passion for what we can do here. There’s lots of great technology and science that are not being commercialised.”

Finistere Ventures subsequently opened an office in Palmerston North, streamlining their search for additional New Zealand investments. Their aim was to diversify and grow their portfolio at the intersection of productivity and sustainability in food, alternative energy crops, novel agriculture production systems, animal health, and the precision agriculture subsectors.

Since 2018, Finistere have relocated animal genetics start-up AgGentics to New Zealand and invested $20 million into two Kiwi agritech companies, BioLumic and Invert Robotics. Finistere are also in the process of investing in Palmerston North-based agritech accelerator Sprout, whose co-investors include Fonterra and Israel-based Our Crowd. What do you find attractive about

New Zealand agritech companies as an investment?“New Zealand is a globally relevant centre of excellence with key advantages. There is high quality publicly funded research through universities and CRIs and the internationally recognised food and agriculture industry sectors. More needs to be done making the transition from science to market more seamless, but NZ is a leader in technology opportunities in animal health, sustainability, water, plant breeding, green-house gas, and pastoral systems.”

What would you tell others considering investing in NZ agritech?“The global investment interest in agritech and agrifood continues to grow and NZ can be a key part of this sector. Over the last four years we have led delegations here with 35 investors from our network. The familiarisation with NZ helps make syndication easier and you can see this with Yamaha Motor Co. (Invert Robotics), Canopy Rivers, and Rabo Ventures (BioLumic), and Our Crowd (Sprout) making investments alongside Finistere. We tell our investment network that as well as being a great place to visit, New Zealand has welcoming people and unusually good technology and conditions for development. We also advise investors that Kiwi companies need high levels of active support in moving beyond R&D and transitioning into global markets.”

BioLumic raises US$5 million from Finistere Ventures Based in Palmerston North, BioLumic delivers its proprietary ultraviolet technology to maximise plant biology, increasing growth, profitability, and yields.

Invert Robotics raises US$8.8 million from Finistere Ventures Founded in 2011, Invert Robotics provides remote robotic inspection services in the food production, chemicals, aviation, and energy industries.

Mar 2018

May 2019

ARAMA KUKUTAI, Co-Founder, Finistere Ventures

Four of the 20 Agritech companies in the 2019 TIN200 are investment backed - NDA Group, Waikato Milking Systems NZ, Figured and Bluelab – with two of these four backed by domestic and international investors. A further six are foreign-owned (30%, as compared to 20% for the wider TIN200).

Notable acquisitions made in the last couple of years include BBC Technologies, acquired by Norwegian giant TOMRA making its second New Zealand acquisition, and Swiss firm Datamars, which purchased Simcro and Tru-Test Group.

Additionally, of the 109 Early Stage Agritech companies listed in the directory later in this Report, at least 31 have

secured investment from domestic and/or international investors. In 2018, the following five Early Stage companies alone – FarmIQ, Hectre, BioLumic, Robotics Plus, and Halter – secured at least $29.9m combined from investors as far and wide as the US, Canada, Japan, and Hong Kong. Investors included Merck Animal Health Ventures, Canopy Rivers, Yamaha Motor Co, Data Collective, Founders Fund, and Promus Ventures, to name a few.

As the table below shows, the Agritech investment market in New Zealand continues to draw significant interest.

Investors that have invested in the Early Stage companies in this Report.*

NAME OF INVESTORNUMBER OF INVESTMENTS IN AGRITECH

COMPANIES IN THIS REPORT

NZ Growth Capital Partners 15

Icehouse Ventures 11

K1W1 8

Manuwatu Investment Group (MIG) 7

Angel HQ 6

Enterprise Angels 6

Pacific Channel 6

Global from Day One 5

<5 DEALS

Angel Investors Marlborough ArcAngels BlueChilli Capital Pty Ltd Bluestone Ventures LLC

Canopy Rivers Canterbury Angel Investors Data Collective Dead Cow Bay Venture Capital Ltd

Finistere Ventures FKA Nominee Fonterra Equities Founders Fund

H2 Investments Ltd Harvey Investment Company LIC Ventures Massey Ventures

Merck Animal Health Ventures Otago Innovation Ltd Parker Agricultural Investments Powerhouse Ventures Ltd

Promus Ventures Ridge Capital LLC Rockburgh Nominees Ltd SproutX

The Factory (Bio Commerce Trust) Soul Capital Thompson Capital Ltd TPT Group

Venture Accelerator Ltd Venture Lighthouse Ltd Wang Capital Limited WNT Ventures

Yamaha Motor Co.

*Information sourced through Companies Office shareholdings data.

The Eco-System 2928 NZ Agritech Insights Report 2020

TIN200 Agritech Company Profiles

31

Photo courtesy of Gallagher Group.

Game Changers: Where the Tech is Heading

1. Internet of Things Contrary to its name, the ‘Internet of Things’ does not technically require the internet to function. It is viewed as a network of objects incorporating an embedded type of technology to interact with their internal and/or external environments, exchanging data with a manufacturer.

New Zealand boasts several internationally recognised companies making headwinds through their application of the IoT to agriculture. IoT has been deployed across numerous sub-sectors to collect data on temperature, rainfall, wind, soil content, as well as automate farming processes to streamline crop yield.

One key area of note is the impact that the IoT has on the monitoring of sustainable farming practices in New Zealand. A world-first arable farming IoT trial took place at Kowhai Farm in 2019 where nitrate sensors and soil moisture indicators were demonstrated as cost effective solutions for sustainable farm management.

COMPANIES: RiverWatch, ModuSense, RH Innovation Limited, Harvest Electronics (NZ) Limited, Hivemind Limited.

3. Alternative NutrientsIn order to flourish, crops require an ample amount of their three fundamental macronutrients: Nitrogen (N), Phosphorus (P), and Potassium (K). More often than not, these are provided externally through the use of ‘NPK’ fertilisers aimed at the maximisation of crop yield. However, when these nutrients are added in excess of the plants’ ability to utilise them, the balance is transmitted into the water table, negatively impacting the immediate ecosystem.

It was from this that the demand for alternative nutrients was born. The Agritech sector in New Zealand has outlined two key metrics that distinguish an alternative nutrient source: increased plant absorption efficiency and decreased marginal environmental impact.

To date, there is a concerted effort to trial disruptive nutrient technologies across soil censoring, crop biomass imaging analysis, automated irrigation, and microbiome soil amendments to include alternative nutrient technologies.

COMPANIES: Bluelab, AgriGanics Limited, BioSoil & Crop (part of PlusGroup).

2. Robotics Since the inception of farming, human labour has been at the epicentre of effective yield and growth. However, negative externalities and a desire for maximised efficiency have fostered a demand for robotics in agriculture.

Simply put, an agricultural robot is one that is purposefully engineered to replace or increase the efficiency of processes carried out by human labour. Common applications of robotics in New Zealand have evolved from traditional fruit picking into the detection of disease, targeting the application of certain products to crops otherwise inaccessible to farmers. The last decade has seen unprecedented growth in technological precision farming with up to 80% adoption across new farming equipment on the New Zealand market.

With that being said, New Zealand is at the forefront of robotic innovation, pioneering fully automated horticulture-assisting robots, nitrate reduction mechanisms, and world-first structural integrity assessment robotics.

COMPANIES: Robotics Plus, Invert Robotics, Pastoral Robotics, Greentech Robotics, Aeronavics, Rocos.

4. Water Usage EfficiencyThe most fundamental element of agriculture – water – is fast becoming the most challenging to manage and use efficiently in a world affected by the ongoing impacts of climate change. This is influencing research into ways that technology can alleviate and mitigate such effects.

Researchers such as Lincoln Agritech are focusing on developing technological solutions to the problems of irrigation management and freshwater pollution, including reducing nitrate leaching and runoff from farming. CEO Peter Barrowclough notes that his company has been focusing on water use efficiency since the 1980s when they developed IRRICAD™, a world-leading irrigation design software, now sold in over 90 countries and eight languages. More recently , they have developed and begun selling a low cost optical groundwater nitrate sensor, sold under the HydroMetrics™ brand.

As one at the coalface, Barrowclough believes absolutely that New Zealand has the ability to develop technologies to help manage water use efficiently that will compete globally.

COMPANIES: WaterWatch, Hydroxsys, CertusBio.


Postal Address: PO Box 75840, Manurewa, Auckland 2243

Physical Address: 2 Sterling Avenue, Manurewa , Auckland 2102

City: Auckland

Phone: +64 (9) 250 3100

www.argentaglobal.com

Postal Address/Physical Address: 34 Ingram Road, RD 2, Hamilton 3282

City: Hamilton

Phone: +64 (7) 823 6927

www.bbctechnologies.com

CEO: Ben Russell

Description: Animal health products

Key Products: Eprinex, Cydectin, Avenge, Galliprant, CliK, Kexxtone, Denagard, Flypor, and Osurnia.

Market Sector: Biotech

Ownership: Private

Staff Employed: 420

Formation: 2006

Rank 2018: 19

CEO: Geoff Furniss

Description: Advanced vision sorting and packing equipment.

Key Products: Fruit sorting and filling machines.

Market Sector: High-tech Manufacturing

Ownership: Foreign Owned

Staff Employed: 141

Formation: 2000

Rank 2018: 62

REV 2019 ($000):

$114,226*REV 2019 ($000):

$44,110

2019 RANK: 21 2019 RANK: 58

ARGENTA BBC TECHNOLOGIES

Argenta 32

BBC Technologies 32

BioStart 33

Bluelab 33

Compac Sorting Equipment 33

Dairy Technology Services 34

Figured 34

Gallagher Group 34

Livestock Improvement Corporation 35

Lonza 35

NDA Group 35

Simcro 36

South Pacific Sera 36

TracMap 36

Trimax Mowing Systems 37

Tru-Test Group 37

Waikato Milking Systems NZ 37

Wildeye 38

Wyma Engineering (NZ) 38

Zee Tags 38

*Estimated revenue. *Estimated revenue.

PROFILE DIRECTORY


Postal Address: 216 Lake Road, Hauraki, Auckland 0622

Physical Address: 216 Lake Road, Hauraki, Auckland 0622

City: Auckland

Phone: +64 (9) 488 0180

www.biostart.co.nz

Postal Address/Physical Address: 8 Whiore Ave, Tauriko Business Estate, Tauranga 3110

City: Tauranga

Phone: +64 (7) 578 0849

www.bluelab.com

Postal Address: PO Box 13516,Onehunga, Auckland 1643

Physical Address: 4 Henderson Place, Onehunga, Auckland 1061

City: Auckland

Phone: +64 (9) 634 0088

www.compacsort.com

CEO: Jerome Demmer

Description: Biological fermentation products for use in agriculture and horticulture.

Key Products: Forage preservatives, biostimulants – soil and foliar, crop protection, N-fixing bacteria, animal prebiotics, biopesticides.


Ownership: Private

Staff Employed: 15

Formation: 1994

Rank 2018: 193

Best Business Decision 2019: Hiring new staff with expertise in new market segments.

CEO: Greg Jarvis

Description: Monitoring and control systems for domestic and commercial plant growers.

Key Products: Hand-held meters, monitors, and control devices for pH, EC, moisture, and temperature in controlled environment horticultural applications.


Ownership: Investment-backed Private

Staff Employed: 64

Formation: 2004

Rank 2018: 119

Best Business Decision 2019: Continuing to build capability within the USA based team.

CEO: Ken Moynihan

Description: Sorting and automation solutions for the produce industry.

Key Products: Spectrim, Inspectra2, InVision2 TotalView, Multi Lane Sorter (MLS),Small Fruit Sorter (SFS), packing equipment.



Staff Employed: 527

Formation: 1984

Rank 2018: 16=

REV 2019 ($000):

$3,934*REV 2019 ($000):

$19,400REV 2019 ($000):

$151,900

2019 RANK: 197 2019 RANK: 106 2019 RANK: 16

BIOSTART BLUELABCOMPAC SORTING EQUIPMENT

Company Profiles 3332 NZ Agritech Insights Report 2020

Postal Address/Physical Address: 38 The Boulevard, Private Bag 20502, Te Rapa, Hamilton 3241

City: Hamilton

Phone: +64 (7) 850 2974

www.dairy.tru-test.com

Postal Address: PO Box 90295 Victoria Street West, , Auckland 1142

Physical Address: Level 5, Clearpoint House, 7-9 Fanshawe Street, Auckland 1010

City: Auckland

www.figured.com

Postal Address: Private Bag 3026, Waikato Mail Centre, Hamilton 3240

Physical Address: 181 Kahikatea Drive, Melville, Hamilton 3206

City: Hamilton

Phone: +64 (7) 838 9800

www.gallaghergroup.co.nz

Postal Address/Physical Address: 605 Ruakura Road, Newstead, Hamilton 3286

City: Hamilton

Phone: +64 (7) 856 0700

www.lic.co.nz

Postal Address: PO Box 7142, Fitzroy, New Plymouth 4341

Physical Address: 15 Hudson Road, Bell Block, New Plymouth 4312

City: New Plymouth

Phone: +64 (6) 755 9234

www.lonza.co.nz

Postal Address: Private Bag 3018, Hamilton 3240

Physical Address: 709 Te Rapa Road, Te Rapa, Hamilton 3240

City: Hamilton

Phone: +64 (7) 849 2979

www.nda.co.nz

CEO: Gavin Thwaites

Description: Dairy technology services.

Key Products: Dairy automation systems, milk cooling, and farm holding tanks.


Ownership: Private

Staff Employed: 75

Formation: 1964

CEO: Dave Dodds

Description: Online financial managment software for farmers.

Market Sector: ICT


Staff Employed: 58

Formation: 2014

Rank 2018: New Entrant

CEO: Sir William Gallagher

Description: Animal management, security, and fuel systems.

Key Products: Integrated security solutions.


Ownership: Private

Staff Employed: 1029

Formation: 1938

Rank 2018: 5

CEO: Wayne McNee

Rev 2019 ($000): $246,561

Description: Agricultural and software solutions.

Key Products: Artificial breeding, herd testing, diagnostic testing, farm software, farm automation.


Ownership: Public

Staff Employed: 771

Formation: 1988

Rank 2018: 6

Best Business Decision 2019: A four-year growth focused transformation programme, including separating genetics and agritech units, a capital restructure, and strategy refresh.

CEO: Andrew Thompson

Description: Chemical company developing products to meet specific agrichemical and timber treatment requirements.

Key Products: Crop and wood protection products.



Staff Employed: 54

Formation: 1988

Rank 2018: 63

CEO: Mark Eglinton

Description: Specialty manufacturing and servicing of industrial storage and process vessels.

Key Products: Process and storage vessels, heat exchangers, and ancillary equipment.



Staff Employed: 525

Formation: 1997

Rank 2018: 12

REV 2019 ($000):

$25,000*REV 2019 ($000):

$12,554*REV 2019 ($000):

$271,000REV 2019 ($000):

$246,561REV 2019 ($000):

$35,352REV 2019 ($000):

$174,000

2019 TIN200 RANK: 91= 2019 TIN200 RANK: 138 2019 TIN200 RANK: 5 2019 TIN200 RANK: 6 2019 TIN200 RANK: 68 2019 TIN200 RANK: 11

DAIRY TECHNOLOGY SERVICES FIGURED GALLAGHER GROUP

LIVESTOCK IMPROVEMENT CORPORATION LONZA NDA GROUP


*Estimated revenue. *Estimated revenue. Company Profiles 3534 NZ Agritech Insights Report 2020

Postal Address/Physical Address: 13 Kaimiro Street, Pukete, Hamilton 3200

City: Hamilton

Phone: +64 (7) 846 7723

www.simcro.com

Postal Address: PO Box 2117, Washdyke, Timaru 7941

Physical Address: 26 Kennels Road, Washdyke, Timaru 7975

City: Timaru

Phone: +64 (3) 687 4050

www.southpacificsera.co.nz

Postal Address: PO Box 90, Mosgiel 9053

Physical Address: 1/180 Dukes Rd North, Mosgiel 9092

City: Mosgiel

Phone: +64 (3) 489 2952

www.tracmap.com

Postal Address: PO Box 2150, Seventh Avenue, Tauranga 3140

Physical Address: 70 Maleme Street, Greerton, Tauranga 3112

City: Tauranga

Phone: +64 (7) 541 0411

www.trimaxmowers.com

Postal Address: PO Box 51078, Pakuranga, Auckland 2140

Physical Address: 25 Carbine Road, Mount Wellington, Auckland 1060

City: Auckland

Phone: +64 (9) 574 8888

www.tru-test.com

Postal Address: PO Box 20325, Te Rapa, Hamilton 3241

Physical Address: 29 Innovation Way, Northgate Business Park, Hamilton 3200

City: Hamilton

Phone: +64 (7) 849 8755

www.waikatomilking.co.nz

CEO: Roger Wakelin

Description: Design and manufacture, animal health delivery systems.

Key Products: Injectors, topical applicators, oral applicators, intranasal packaging.



Staff Employed: 190

Formation: 1992

Rank 2018: 49

CEO: John Rolleston

Description: Animal-derived biologicals and pharmaceutical contract manufacturer.

Key Products: SeraPac, HaemoPac, ImmunoPac, PlasmaPac


Ownership: Private

Staff Employed: 57

Formation: 1988

Rank 2018: 152

CEO: David Glen

Description: GPS guidance and mapping system.

Key Products: TML: in cab guidance device, TracMap Online - cloud based job tasking and reporting.

Market Sector: ICT

Ownership: Private

Staff Employed: 50

Formation: 2005

Rank 2018: 175

Best Business Decision 2019: Continued expansion into the United States.

CEO: Bob Sievwright

Description: Manufacturer and marketer of agricultural mowing equipment.

Key Products: Rotary and flail mowers


Ownership: Private

Staff Employed: 60

Formation: 1983

Rank 2018: 139

CEO: Dr. Klaus Ackerstaff

Description: Agritech products and services.

Key Products: Milk cooling and storage, dairy automation, weigh scales and EID, electric fence, milk meters, and security fencing.



Staff Employed: 548

Formation: 1964

Rank 2018: 15

CEO: Campbell Parker

Description: Milking equipment manufacturer.

Key Products: Dairy equipment, milking systems, and rotary platforms.



Staff Employed: 152

Formation: 1992

Rank 2018: 44

REV 2019 ($000):

$49,637*REV 2019 ($000):

$10,463*REV 2019 ($000):

$6,800REV 2019 ($000):

$14,365*REV 2019 ($000):

$107,032*REV 2019 ($000):

$67,640*

2019 TIN200 RANK: 52 2019 TIN200 RANK: 147 2019 TIN200 RANK: 174 2019 TIN200 RANK: 131 2019 TIN200 RANK: 24 2019 TIN200 RANK: 41

SIMCRO SOUTH PACIFIC SERA TRACMAPTRIMAX MOWING SYSTEMS TRU-TEST GROUP

WAIKATO MILKING SYSTEMS NZ


*Estimated revenue. *Estimated revenue. Company Profiles 3736 NZ Agritech Insights Report 2020

Postal Address: PO Box 99308, Newmarket, Auckland 1149

Physical Address: Level 7, 5 Short Street, Newmarket, Auckland 1023

City: Auckland

Phone: +64 (9) 579 8404

www.mywildeye.com

Postal Address: PO Box 16707, Hornby, Christchurch 8441

Physical Address: 27 Foremans Road, Islington, Christchurch 8042

City: Christchurch

Phone: +64 (3) 344 6403

www.wymasolutions.com

Postal Address: PO Box 302477, North Harbour, Auckland 0751

Physical Address: 19 Douglas Alexander Parade, Rosedale, Auckland 0632

City: Auckland

Phone: +64 (9) 414 1790

www.zeetags.com

CEO: James Riddell

Description: Internet of Things based technology for agriculture, environmental, and water monitoring.

Key Products: Soil moisture nonitoring, irrigation flow meter monitoring, water level monitoring, weather stations.

Market Sector: ICT

Ownership: Private

Staff Employed: 35

Formation: 2002

Rank 2018: 182

CEO: Andrew Barclay

Description: Post-harvest vegetable handling equipment and solutions.

Key Products: Wyma Vege Polisher, post-harvest vegetable washing, sizing and handling solutions.


Ownership: Private

Staff Employed: 145

Formation: 1991

Rank 2018: 73

Best Business Decision 2019: Focusing on increasing scalability and capability in our manufacturing and design functions in order to be able to flex quickly to meet spikes in demand.

CEO: Mike Gardner

Description: Livestock identification.

Key Products: Tags, taggers and accessories, companion animal tags, vine tags



Staff Employed: 40

Formation: 1991

Rank 2018: 148

REV 2019 ($000):

$6,533*REV 2019 ($000):

$31,000REV 2019 ($000):

$9,503*

2019 TIN200 RANK: 178 2019 TIN200 RANK: 77= 2019 TIN200 RANK: 157

WILDEYE WYMA ENGINEERING (NZ) ZEE TAGS


Early Stage Agritech

Companies Directory

39

*Estimated revenue. 38 NZ Agritech Insights Report 2020

A Selection of Early Stage Agritech Companies in New Zealand

What is a TIN ‘Early Stage Agritech Company’?While revenues, investment stage, and employment numbers vary significantly between TIN Early Stage Companies, all have the following in common. They:

1. Operate in the High-tech Manufacturing, Biotech, or ICT primary sectors.2. Have originated in New Zealand, and still maintain a meaningful presence there.3. Are developing (or have developed) their own intellectual property.4. Are currently at an early stage in their company lifecycle:

a. Development: Pre-revenue companies predominantly focused on developing their product offering for market. b. Commercialisation: Companies with a developed product offering who are in the process of introducing their product to market. c. In market: Revenue generating companies with an established market offering.

Pastoral Robotics

PICMI

BioLumic

PASTORAL ROBOTICS IS AN AUCKLAND-BASED HIGH-TECH DEVELOPMENT COMPANY THAT STARTED OUT BY SEEKING TO ADDRESS THE ONGOING PROBLEM OF NITRATES LEACHING INTO NEW ZEALAND WATERWAYS, CAUSED BY THE THOUSANDS OF DAIRY COWS THAT GRAZE – AND URINATE – IN PADDOCKS ACROSS THE COUNTRY.

AWARD-WINNING EARLY STAGE COMPANY PICMI HAS DEVELOPED A CLOUD-BASED APP THAT AIMS TO REMOVE THE STRESS OF SEASONAL HIRING BOTH FOR GROWERS AND THE STAFF THEY ARE LOOKING TO HIRE.

BIOLUMIC IS A PALMERSTON NORTH-BASED COMPANY DEVELOPING TECHNOLOGY THAT HARNESSES THE POWER OF UV LIGHT TO TACKLE SOME OF THE BIGGEST PROBLEMS IN GLOBAL AGRICULTURE.

To do this, the team at Pastoral Robotics have developed a tractor-mounted unit called Spikey® – named for the spiked rotating discs on the device that act as sensors to detect and treat urine patches left by grazing cows.

Ideally used within 48 hours of the cows leaving the paddock, Spikey® automatically sprays any urine patches with a patented product called NitroStop®, a special formulation that encourages the conversion of the urea in cow urine into pasture growth, thereby reducing the environmental impact.

Results have shown the device to reduce nitrate leaching by up to 70%, as well as reducing GHG emissions of N2O – which increases overall farm productivity. Recent trials also suggest that farmers using Spikey®, and NitroStop®, could ultimately raise pasture yields by 15% in spring and autumn.

Spikey® won the 2017 Arthur Mead Environmental award from Engineering NZ, and more recently, the international IMechE Energy Environment and Sustainability Group prize for 2019.

It is available as a 2.8m trailer or 8m tractor-mounted unit, which can operate at speeds of up to 16kmh, depending on the terrain.

Founded by entrepreneur Genevieve Griffin-George, the idea for PICMI grew out of her experience of managing her family’s kiwifruit orchard in the South Island locality of Brooklyn (near Motueka) and the pain points that arose around finding, hiring, and managing seasonal staff.

PICMI provides growers with an easy-to-use tool to customise contracts, jobs, application, and induction workflows with the information they need for their own business. Jobs can then be matched with thousands of workers, and offers made automatically to job seekers that fit the business’ core criteria. PICMI saves time, effort, paperwork, and money for growers, allowing them to focus on optimising their orchards.

PICMI works for jobseekers by providing a platform for them to create a profile and easily apply for seasonal jobs. Having made the effort to apply for one job, their profile can then be matched with thousands more jobs. Jobseekers gain the flexibility to choose part-time or full-time seasonal work and can move around based on the availability of work.

PICMI was first developed through an intensive tech accelerator programme called Xcelerate, which selected

Based on science developed by Massey University Associate Professor Dr Jason Wargent – BioLumic’s Founder and Chief Science Officer and a world expert on UV photomorphogenesis – their technology works by directing specific quantities of UV light at different wavelengths on plant seeds and seedlings.

By delivering a short, one-time UV treatment over a matter of days for nursery seedlings and minutes for seeds, certain long-term characteristics are ‘switched on’ in the plants that offer unique advantages in the resulting crops.

In manipulating the seeds in this way, BioLumic offers natural and GM free solutions that deliver plants with greater resistance to disease, and reduce the need for chemical sprays.

Launched in 2012, the company has been globally focused from day one and today is working with major growing companies in the US, the UK, and across Europe,

“The impact of farming on the environment is one of the most serious technical challenges of our time, one we have to solve in a manner that improves productivity and our standard of living without putting livelihoods at risk. Innovative new technology is the best, if not the only, way we can achieve this.” GEOFF BATES Founder, Pastoral Robotics

to develop its technology for commercially growing lettuce, strawberry, and tomato crops, among others.

With more than 90 percent of company spend being channelled into R&D, results so far are positive, showing increased crop yields of 10 percent.

BioLumic has backing from global agritech investors Finistere Ventures and Canopy Rivers – as well as a $2.5m grant from NZ’s Ministry of Business, Innovation and Employment.

The company has also received significant support from Callaghan Innovation to develop its talent pipeline through R&D Career and Experience Grants, as well as funding for specific R&D projects.

“Support in capability development is really valuable to us, and to New Zealand more generally, because it provides a conduit between the university research space and start-up companies like ours.” DR JASON WARGENT Founder, BioLumic

“PICMI isn’t just going to impact farmers and growers in NZ – We are solving a global issue and want to unlock opportunities for growth and innovation across the primary industries.”GENEVIEVE GRIFFIN-GEORGE Founder, PICMI

Genevieve’s concept as one of 12 from over 600 applicants. Since then, PICMI has gone on to win three awards at Fieldays in 2019 including the Grassroots Prototype Award, and presented at TechCrunch in San Francisco and EvokeAG in 2020.

The PICMI team are now working on launching PICMI BETA after successfully piloting a contactless solution from application to induction during COVID-19 lockdown.

Early Stage Agritech Companies Directory 4140 NZ Agritech Insights Report 2020

COMPANY NAME CEO FORMATION LIFE STAGE DESCRIPTION PRIMARY SECTOR PHONE ADDRESS WEBSITE

ABC Software Ltd Sharon Chapman 2001 In-Market Orchards and Packhouse software specialists. ICT +64 (6) 845 0068 6-8 Devonshire Place, Taradale. Napier 4141 www.abcsoftware.co.nz

Acuris Systems Matthew Warner 2016 In-Market Self driving vehicles for farmers and growers, which automates the capturing of data and crop analysis in the agriculture and horticulture industries.

High-tech Manufacturing 8 Telford Avenue, Mount Eden, Auckland, 1041 www.linkedin.com/company/acuris-systems/

Aeronavics Linda Bulk 2010 In-Market Developer and manufacturer of industrial aerial robotics/drone solution. High-tech Manufacturing +64 (7) 825 5058 226 Okete Road, Te Uku, Raglan, 3295 www.aeronavics.com

Agrecord Ltd Leyton King 2013 In-Market Provide cloud platform to work like a farm notebook. ICT +64 (6) 261 3185 647 Wilder Road, Porangahau www.agrecord.co.nz

AgriGanics Ltd Fenton Hore 2008 In-Market Precision Soil Mapping uses state-of-the-art GPS location services to identify where soils in farm vary and therefore require variable fertiliser applications.

Biotech +64 (27) 576 0303 PO Box 79, Hororata 7544, Canterbury www.agriganics.com

Agrigate Emma Parsons 2016 In-Market Software tool for farmers that makes it easy to connect and share farm data with those that need to know.

ICT +64 (2) 474 4283 109 Fanshawe St, Central Auckland, 1010 www.agrigate.co.nz

AgriSea Jill Bradley 1996 In-Market Manufacturer of macro-algae concentrates and bioactive extractions. High-tech Manufacturing +64 (7) 862 8424 7446 State Highway 2, RD 4, Paeroa, 3674 www.agrisea.co.nz

Agrismart Ltd Imran Raza 2015 In-Market Software platform deisgned for farm to manage daily operation and track animals' health. ICT +64 (7) 902 2899 29/1 Liverpool Street, Hamilton www.agrismart.co.nz

Alleva Animal Health Robert Holmes 2011 In-Market Animal health company specialising in the development and marketing of novel animal health products.

Biotech +64 (9) 418 1405 15 Calman Place, Chatswood, North Shore City, Auckland, 0626 www.alleva.co.nz

Arthur D. Riley and Company Ltd. Garth Mickell 1976 In-Market Work with energy utilities, water authorities, farming, and agriculture operations through engineering machines.

High-tech Manufacturing +64 (4) 916 6200 137 Thorndon Quay, Thorndon, Wellington, 6011 www.adriley.co.nz

Autogrow Darryn Keiller 1994 In-Market Automation for indoor agriculture including hardware, software, and data solutions. High-tech Manufacturing +64 (9) 415 2380 Building 3, Level 1, 61 Constellation Drive, Auckland, 0632 www.autogrow.com

Avian Solutions Ltd Gavin Mulvay 2013 In-Market Bird control machine. High-tech Manufacturing +64 (21) 173 4672 105 Alford Forest Road, Ashburton, 7700 www.aviansolutions.co.nz

Bee Intelligence Erik Bast 2017 In-Market Suite of technology to empower apiculturists. ICT +64 (21) 226 9145 41 Tio Tio Road, Miramar, Wellington, 6022 www.bee-intelligence.com

BioLumic Steve Sibulkin 2012 In-Market UV treatment for crops. Biotech +64 (21) 799 257 21 Dairy Farm Road, Palmerston North, Palmerston North, 4440 www.biolumic.com

BioMagic Ltd Clive Breeds 2001 In-Market Soil stimulant which conditions soil, creating environment for the soil microbiology to thrive in.

Biotech +64 (9) 424 4476 P.O. Box 281, Silverdale, 0944 www.biomagic.co.nz

Biotelliga Damien Fleetwood 2009 Development Technology to protect crops from pests and insects. Biotech +64 (9) 367 9364 299 Parnell Road, Parnell, Auckland, 1052 www.biotelliga.com

Boss Aqua In-Market Compact, self -contained aquaculture net cleaning machine. High-tech Manufacturing +64 (29) 280 6690 Marlborourgh www.bossaqua.com

Breediq Ltd Chelsea Millar 2017 Commercialisation Intelligent genetic management software for farmers. ICT +64 (27) 330 1939 Chelsea Millar, 115 Koputara Road, Rd 11, Himatangi Beach, 4891 www.breed-iq.com

Bumpercrop Ltd Adam Forbes 2019 In-Market Rootzone monitoring system by using automated rootzone water content & EC sensors ICT +64 (27) 351 2512 Adam Forbes, Flat 3, 143 Jervois Road, Herne Bay, Auckland, 1011 www.mybumpercrop.com

Buzztech Ltd Julian Mccurdy 2016 In-Market Hive level data collection through an app or sensor that's the fastest and friendliest for commercial beekeepers.

ICT +64 (9) 622 3055 Julian McCurdy, 26 Rimu St, Strandon, New Plymouth, 4312 www.buzztech.nz

Ceratech Nicholas Couch 2016 In-Market Honey production and processing equipment for the next leap in environmental and sustainable food production.

High-tech Manufacturing 169 Clifton Road, Rd 48, Urenui, 4378 www.ceratech.co.nz

CertusBio Ltd Matthew Jones 2016 Commercialisation Wastewater monitoring devices that detect, quantify, and prevent losses during processing and minimise the cost of treating wastewater.

High-tech Manufacturing +64 (2) 196 3161 Engineering Drive, Lincoln University, Lincoln, 7674 www.certusbio.com

CR Automation Peter Richards 2002 In-Market Packhouse and food automation systems – electrical engineering, control systems, automation, and industrial IT

High-tech Manufacturing +64 (6) 873 4238 500 Coventry Road, Mahora, Hastings, 4155 www.crautomation.nz

Danz Zappz Daniel Hall 2015 Commercialisation Technology to keep people safe from an electric fence shock. High-tech Manufacturing +64 (21) 266 6927 PO Box 479, Kumeu, Auckland, 0841 www.fencedetective.com

Dataphyll Ltd Christoph Kistler 2015 In-Market Harvest management platform for horticulture. ICT +64 (27) 445 8095 Unit 1b, 12 Kawakawa Place, Whenuapai, Auckland, 0814 www.dataphyll.com

Drone Mate Ltd Geoffery Sherlock 2016 In-Market Sensors and data management software for observing, measuring and responding to small changes in crops

ICT +64 (5) 837 6637 Sheree Sherlock, 25 Mcshane Road, Rd1, Richmond, Nelson, 7081 www.dronemate.co.nz

Dronescape Ltd Charles Teear 2017 In-Market Camera that capture all multi-spectral data for aerial mapping ICT + 64 (27) 305 8549 14 Richardson Terrace, Woolston, Chrischurch, 8023 www.dronescape.co.nz

Ecolibrium Biologicals Ragu Wallabh 2017 In-Market Provide biological and biochemical solutions to ensure food safety and protect ecosystem.

Biotech +64 (9) 963 1834 Unit 3,4 and 5, 4 Austen Place, Pukekohe, 2120 www.ecolibriumbiologicals.com

Engender Technologies Darryn Pegram 2011 Development Commercialising microfluid and photonic technology. Biotech +64 (9) 923 3525 Level 5, 55 Shortland Street, Auckland, 1010 www.engendertechnologies.com

Envisi Ltd Brett Oliver 2016 In-Market Machine that scares birds away from crops. High-tech Manufacturing +64 (2) 150 3084 Level 1, 57 Symonds Street, Grafton, Auckland, 1010 www.envisi.co.nz

Farm IQ Darryn Pegram 2010 In-Market Farm management software. ICT +64 (8) 032 7647 15 Allen Street, Te Aro, Wellington, 6011 www.farmiq.co.nz

Farm Medix Leon Spurrell 2010 In-Market Diagnostic kit for on-farm masitis testing, enabling rapid prevention of disease spreading.

Biotech +64 (2) 144 0444 Waikato Innovation Park, 1 Melody Lane, Hamilton East, Hamilton, 3216

www.farmmedix.com

Farmax Ltd Matthew Lambert 1993 In-Market Forecast performance against the plan, enter actual event and performance data. ICT +64 (8) 032 7629 9 Melody Lane, Ruakura, Hamilton, 3240 www.farmax.co.nz

Farmote Ltd Jeremy Barton 2016 In-Market Web platform provides precise daily pasture measurements and invaluable insights by using satellites in space and motes on the ground.

ICT +64 (21) 032 0364 C-Lab Coworking, B8/L1 Boxed Quarter, 270 St Asaph Street, Christchurch, 8011

www.farmote.com

Farmshed Labs Fraser Smith 2013 Commercialisation Cow heat detection device. High-tech Manufacturing +64 (21) 476 864 Crowe Horwath, 57 Spring Street, Tauranga, 3110 www.farmshedlabs.com

Early Stage Agritech Companies Directory




Field-Tek Ltd Sean Lange 2010 In-Market Tablet-based data collection system for electronically capturing data in field trials. ICT +64 (27) 546 5796 PO Box 20078, Bishopdale 8543, Christchurch www.field-tek.co.nz

Focus Genetics Anthony Creswell 2011 In-Market Genetic solutions for sheep, cattle, and deer farming. Biotech +64 (5) 815 9159 17C Mahia Street, Ahuriri, Napier, 4140 www.focusgenetics.com

Ftek Mark Currie 2005 In-Market Design and manufacturing of crop maintenance and harvesting equipment. High-tech Manufacturing +64 (9) 239 2607 Unit 2, 197C Manukau Road, Pukekohe, Auckland, 2102 www.ftek.co.nz

GPS-IT Matt Flowerday 2001 In-Market Provides customised land mapping solutions specialising in the horticultural and agricultural industries.

ICT +64 (7) 573 6077 275 Cameron Road, Tauranga, 3110 www.gpsit.co.nz

Greentech Robotics Don Sandbrooke 2017 In-Market Robotics and automation solutions that save time and increase yield High-tech Manufacturing +64 (6) 280 2489 36 Victoria Avenue, Palmerston North, 4410 www.greentechrobotics.com

Halter Craig Piggott 2016 Commercialisation Cow monitoring and movement tool powered by artificial intelligence. High-tech Manufacturing +64 (27) 201 4661 Level 2, 18 Stanley Street, Parnell, Auckland, 1010 www.halter.co.nz

Harvest Electronics (NZ) Ltd Janet Munn 1995 In-Market Automated weather detect diveces. High-tech Manufacturing +64 (6) 370 1991 10 Pragnell Street, Solway, Masterton, 5810 www.harvest.com

Hayload Christopher West 2014 In-Market Mobile app for agricultural contractors to automating business management tasks. ICT 5 Acacia Street, Kelvin Grove, Palmerston North, 4414 www.hayload.co

Hectre Group Ltd Matthew Blomfield 2017 In-Market Orchard management platform ICT +64 (21) 075 5018 4 Williamson Ave, Grey Lynn, Auckland www.hectre.com

Hivemind Ltd Berwyn Hoyt 2012 In-Market Central communications unit that allows sensors to report data about bee hives ICT +64 (3) 595 5224 106 Manchester Street, Christchurch Central, Christchurch, 8011 www.hivemind.nz

Hivetech NZ Ltd Brett Mascull 2017 In-Market Platform for data tracking for bee keeper ICT +64 (6) 752 0418 Tandem Group, 369 Devon Street East, New Plymouth, 4310 www.hivetech.nz

Holsim Pamela Holmes 2015 In-Market Augmented reality software for advanced animal husbandry and veterinary training of animal health professionals.

High-tech Manufacturing 110 Dixon Street, Masterton, 5810 www.holsim.co.nz

Hortplus (N.Z.) Ltd Lesley Kersey 1998 In-Market Analysis systems and MicroLoggers for monitoring temperature and humidity for crops ICT +64 (6) 876 4922 Wayne Hanna T/A RAFT Accounting, 117 Brookvale Road, Havelock North, 4130

www.hortplus.com

HortWorx Rob Elstone 2019 In-Market Packhouse automation High-tech Manufacturing +64 (21) 544 082 6 Stafford Street, Clive, 4102 www.hortworx.com

Hot Lime Labs Ltd Vlatko Materic 2014 In-Market Sustainable CO2 solution for greenhouse growers Biotech +64 (4) 211 658 758 68 Gracefield Road, Gracefield, Lower Hutt, 5010 www.hotlimelabs.com

Hydroxsys Mak Hartstone 2012 Development Commercialising proprietary membrane filtration for water extraction and industrial waste remediation.

Biotech +64 (2) 157 5519 24 Balfour Rd, Parnell, Auckland, 1052 www.hydroxsys.com

inFact Nigel Sharplin 2000 In-Market Product design and hi-tech engineering innovation design company. High-tech Manufacturing +64 (3) 377 73 16 Unit 5 Amuri Park, Chrischurch, 8031 www.infact.co.nz

Invert Robotics Neil Fletcher 2010 In-Market Inspection robots for dairy, aviation, and chemicals industries. High-tech Manufacturing +64 (3) 325 7134 235 Annex Road, Christchurch, 8024 www.invertrobotics.com

Iris Data Science / Exigo Ltd Greg Peyroux 2013 In-Market Big data, insights and predictive analytics, embracing deep learning and computer vision

ICT +64 (21) 262 9769 Consultancy House, 2nd floor, 7 Bond St, Dunedin, 9016 www.irisdata.co.nz

Kiwi Hort Solutions Ltd Gagandeep Gill 2016 In-Market Web-based orchard management system, designed to help strengthen the link between orchard owners, contractors, managers, and workers.

ICT +64 (7) 262 2727 73 Jellicoe Street, Te Puke 3119 www.kiwihort.com

Knode Ltd Richard Wildman 2016 Commercialisation Automated farm monitoring platform ICT +64 21 657585 Scott Townshend, 21 River Road, Ngatea, 3503 www.knode.co.nz

Lanaco Nick Davenport 2010 In-Market Multi-functional filters using natural wool for air filtration. Biotech +64 (21) 980119 2-4 Sultan Street, Ellerslie, Auckland, 1051 www.lanaco.co.nz

Levno Ltd Larry Ellison 2012 In-Market Farm monitoring and data collecting platform ICT +64 (8) 045 3866 171 Railway Road, Palmerston North, 4414 www.new.levno.com

Mastaplex Olaf Bork 2015 Commercialisation On farm mastitis diagnostic tool. Biotech +64 (21) 479 902 Centre for Innovation, 87 St David St, Dunedin, 9106 www.mastaplex.com

Mende Biotech Ltd Doug Mende 1999 In-Market Developers of fully finished products for the animal health market based on the natural antimicrobial Totarol.

Biotech +64 (6) 379 7787 154 Belvedere Road, Carterton, 5713 www.mendebiotech.co.nz

Metris Mark Bart 2017 In-Market Frost and weather forecasting and software support tools ICT +64 (8) 037 2433 76 Methuen Road, New Windsor, Auckland, 0600 www.metris.nz

ModuSense Bruce Trevarthen 2018 In-Market IoT platform for productivity solutions. High-tech Manufacturing +64 (7) 974 9150 Waikato Innovation Park, 2 Melody Lane, Ruakura, Hamilton, 3216 www.modusense.com

MyApiary Carl Vink 2012 In-Market Productivity software for commercial beekeepers. ICT +64 (7) 391 0039 19 Knox Street, Hamilton, 3204 www.myapiary.com

MyEnviro Ltd Brent Paterson 2019 In-Market Measures changes in farm environment by providing real-time data and analytics on soil health, water quality, emissions, and pasture growth.

ICT +64 (27) 486 4276 3 The Courtyard, Village Exchange, 4 Te Aute Rd, Havelock North, 4130 myenviro.co.nz

NuPoint Ltd Paul Steine 2015 In-Market Cloud-based system tracks jobs and maps are created and dispatched wirelessly to a tablet

High-tech Manufacturing +64 (8) 098 6527 WK Advisors and Accountants Limited, 2 Alfred Street, Mayfield, Blenheim, 7201

www.nupoint.com

OnSide Michael Falconer 2015 In-Market On farm mobile risk management software for farmers to capture and protect what they love about their farm.

ICT +64 (8) 688 7433 100 Manchester Street, Christchurch, 8011 www.onside.co.nz

Otakaro Pathways John Aitken 2011 In-Market The development of diagnostics for autoimmune disease in human and diseases in the agricultural sector.

Biotech +64 (3) 341 2195 185 Kirk Road, Innovation Park, Templeton, Christchurch, 1010 www.otakaropathways.co.nz

Pastoral Robotics Geoff Bates 2013 Development Focused on keeping nutrients on the farm where they increase pasture growth and profitability and keeping them out of the environment.

High-tech Manufacturing +64 (2) 476 2687 24 Balfour Road, Parnell, Auckland, 1052 www.pastoralrobotics.co.nz

PICMI Genevieve Griffin-George

2018 In-Market Seasonal staffing solution ICT +64 (27) 221 3310 PICMI, Brooklyn, Tasman, 7198 www.picmi.io

PlusGroup Horticulture Steven Saunders 2010 Commercialisation Provides specialised horticultural solutions through its companies PollenPlus, GroPlus, Robotics Plus, BioSoil and Crop, and Newnham Park.

Biotech +64 (7) 552 5985 Newnham Park, 37a Newnham Road, Te Puna, Bay of Plenty www.plusgroup.co.nz

Precision Farming Kenneth Irons 2010 In-Market Generates farm data in real time from sensors, GPS devices, flow meters etc, and automatically uploads to digital farm management platform.

ICT +64 (8) 047 7001 151 Waterloo Road, Hornby, Christchurch, 8042 www.precisionfarming.co.nz



Quant Artificial Intelligence Ltd Genevieve Beech 2019 Development Land and environment data insight analysis platform ICT +64 (21) 2802779 James Beech, 9 Lindsay Street, Havelock North, 4130 www.quantai.co.nz

Radfords Adam Cuming 1998 In-Market Orchards and packhouse software specialists ICT +64 (7) 579 1106 12 Bethlehem Road, Tauranga, 3110 www.radfords.co.nz

Regen Ltd Bridget Hawkins 2010 In-Market Using farm data to generate recommendations for management needs. ICT +64 (8) 037 3436 Level 2, 90 Dixon Street,Wellington, 6011 www.nzregen.co.nz

Rezare Systems Andrew Cooke 2004 Commercialisation Helping improve the lives of farmers, graziers, and growers. ICT +64 (7) 857 0820 2 Melody Lane, Hamilton, 3240 www.rezare.co.nz

RH Innovation Ltd Bismarck Simeon 2018 Development An IoT based company specialising in creating agritech solutions ICT +64 (22) 650 7315 10 Cooper Crescent, Morrinsville, 3300 www.rhinnovation.co.nz

Ricado Daryl Anderson 2016 In-Market Industrial monitoring and control platform High-tech Manufacturing +64 (7) 575 4601 2 Dunlop Rd, Te Puke, 3119 www.ricado.co.nz

RipeTime Jonny Shannon 2011 Development Technology that detects extremely low levels of gas in the atmosphere to track fruit quality throughout the supply chain.

Biotech +64 (9) 480 6620 102 Mokoia Rd, Birkenhead, Auckland, 0626 www.ripetime.com

RiverWatch James Muir 2017 Commercialisation Observe and monitor changes in water quality High-tech Manufacturing +64 (21) 053 4188 172 Moeraki Road, Rd 4, Martinborough, 5784 www.riverwatch.nz

Robotics Plus Matt Glenn 2008 In-Market Automated robotics systems for the horticulture industry. High-tech Manufacturing +64 (7) 552 6827 Newnham Innovation Park, 37a Newnham Rd, RD4, Tauranga, 3174 www.roboticsplus.co.nz

Rocos David Inggs 2017 Commercialisation A cloud platform to build and manage robot operations ICT +64 (21) 72 3030 Level 3, 10 Customs Street East, Auckland, 1010 www.rocos.io

Smart Farm Data Ltd Leslie Hayman 2015 In-Market Animal care system provides real data via activity level monitoring, temperature, and remote pH recording.

ICT +64 (7) 843 7577 105 Bellevue Road, Pukemoremore, Hamilton, 3284 www.smartfarmdata.com

Smart Machine Company Andrew Kersley 2017 In-Market Autonomous platforms for horticulture ICT +64 (2) 184 4295 59 Parker Street, Mayfield, Blenheim, 7201

TagIt Josh White 2002 In-Market Farm automation solutions. ICT +64 (8) 047 6380 42B Tawn Place, Pukete, Hamilton, 3200 www.tagittechnologies.co.nz

Te Pari Products Ltd Douglas Blampied 1980 In-Market Designers and manufacturers of quality cattle and sheep handling hardware and solutions.

High-tech Manufacturing +64 (3) 433 0077 9 Endeavour Crescent, North Oamaru Business Park, Oamaru, 9494 www.tepari.com

Techion Group Ltd Greg Mirams 2010 In-Market Data management system that helps farmer increase management efficiency levels. ICT +64 (3) 477 7555 11 Hillside Rd, Caversham, Dunedin, 9012 www.techion.com

Teck Labs Ltd Johnathan Wong 2015 Development Developers of sensing technologies in the areas of AI, drones and imaging. ICT +64 (3) 669 3833 22 Marsden Avenue, Mount Eden, Auckland, 1024 www.tecklabs.co.nz

The Paddock Groomer Ltd Fraser Drummond 2012 In-Market Horse manure and poo collection machines. High-tech Manufacturing +64 (2) 144 7725 275 Peak Road, Rd 2, Helensville, 0875 www.paddockgroomer.co.nz

Thelning Design Innovation Nelson Thelning 2016 In-Market Engineering and design of prodcuts to improve efficiency. High-tech Manufacturing +64 (3) 351 5597 4C Avenger Crescent, Wigram, Christchurch, 8042 www.thelning.co.nz

Thermo Regulatory Genetics Derek Fairweather 2018 In-Market Genetic breeding for dairy. High-tech Manufacturing +64 (7) 8436618 3680 Ohaupo Road, Hamilton, 3282 www.trgenetics.co.nz

Tow & Blow Ltd Kim McAulay 2017 In-Market Creators of the first truly portable wind machine for frost protection. High-tech Manufacturing +64 (6) 879 6194 702 Omahu Rd, Hastings 4120, New Zealand www.towandblow.co.nz

Trackback Ltd David Mcdonald 2018 In-Market Blockchain for proving authenticity and quality for product differentiation. ICT 26 Crummer Road, Grey Lynn, Auckland, 1021 www.track-back.co

Trackit Ltd Todd Somervell 2009 In-Market Developers of tools for fleet and mobile workforce management. ICT +64 (9) 522 4300 Suite 2.4, 8a Cleveland Rd,Parnell, Auckland ,1052 www.trackit.co.nz

Transpread International Ltd David Hoyle 1992 In-Market Designers and manufacturers of fertiliser spreadersand handling equipment. High-tech Manufacturing +64 (9) 431 1020 169 Hurndall Street, Maungaturoto, 0520 www.transpread.com

Trev Scott Townshend 2019 In-Market Farm reporting software capturing information on the user's farm operational data and gauge on-farm performance (and comparisons).

ICT +64 (21) 0566770 21 River Road, Ngatea, 3503 www.mytrev.com

Ubco Timothy Allan 2015 In-Market Utility electric vehicles and portable power. High-tech Manufacturing +64 (7) 543 1640 25b Nature Place, Greerton, Tauranga, 3110 www.ubcobikes.com

Veritaxa Ltd Bob Hodgeson 2013 In-Market Developers of a technology platform consisting of robotic and optical technologies to locate microscopic particles of interest in natural samples and to classify (identify) those particles.

Biotech +64 (6) 880 0530 Glenndinning Chartered Accountants, Level 6 Tsb Bank Tower, 1 - 19 Fitzherbert Avenue, Palmerston North, 4440

www.veritaxa.com

Waterwatch Mark Butler 2013 In-Market Remote monitoring water solutions. High-tech Manufacturing +64 (3) 477 2779 94 Crawford Street, Dunedin, 9016 www.waterwatch.io

Watson Industries Ltd Andrea Watson 2018 In-Market Provider of technology to bring full supply chain visibility. Enabling tracking and monitor of the location, storage, and movement of high value and perishable goods.

ICT +64 (2) 415 47229 Unit 8, 26 Wright Street, Mount Cook, Wellington, 6021 www.sparrows.io

Watson Multi Shears Ltd Richard Watson 1999 In-Market Design and manufacturer sheep shearing clippers. High-tech Manufacturing +64 (2) 191 1002 30 Buschs Road, Medbury, North Canterbury www.watsonmultishears.co.nz

Wine Grenade Jonathan Boswell 2014 In-Market Allows winemakers to create great wine, in less time, through micro-oxygenation. Smart, internet-connected devices represent a step-change in wine maturation technology. A patented oxygen diffusion process delivers superior results, faster, and with less expense.

High-tech Manufacturing +64 (21) 638 600 30 Copsey Place, Avondale, Auckland, 1026 www.winegrenade.com

Winely Jacob Manning 2017 In-Market Automation of testing and wine analysis. ICT +64 (22) 531 5528 22 Leith Bank Street, North Dunedin, Dunedin, 9016 www.winely.co.nz

Woolchemy NZ Ltd Angela Portroz 2008 In-Market Intelligent, eco-logical textiles for healthcare and agritech industries. High-tech Manufacturing +64 (2) 141 2257 5 Twin Lakes Road, Te Marua, Upper Hutt, 5018 www.woolchemy.com

Zeacann Ltd Chris Fowlie 2017 In-Market Developers of an online ordering and compliance portal for the distribution of medicinal cannabis as well as growing, importing, and research medicinal cannibis.

ICT +64 (5) 872 3514 PO Box 420, Kumeu, Auckland www.zeacann.com

Zebra-Tech Ltd John Radford 2002 In-Market Design and manufacture highly specialised instruments and equipment for the marine environment.

High-tech Manufacturing +64 (3) 548 0468 6 Cross Quay, Port Nelson, Nelson, 7010 www.zebra-tech.co.nz

Zeddy Kate Gwilliam 2014 In-Market Managing and monitoring of farm herd feed consumption. ICT +64 (8) 044 4001 946 Tremaine Avenue, Roslyn, Palmerston North, 4414 www.zeddy.com

Zero Harm Farm Ltd Mark Orr 2016 In-Market A modern, cloud based application to make health & safety in spatially challenged work environments, like farms, easier.

ICT +64 (8) 000 5345 411 Tucker Beach Road, Rd 1, Queenstown, 9371 www.zeroharm.app

Zigloa Catherine Mcardle 2019 In-Market Software platform for simplifying food labelling and regulation ICT 96 Waugh Road, Waiterimu, 3784 www.zigloa.com

Zymbl Innovation Ltd Walter Tangohau 2014 In-Market Developing a kinetic energy power generator and empower “outside the box” indigenous thinkers to develop new products for the benefit of all.

High-tech Manufacturing +64 (22) 192 4349 17 Ariariterangi Street, Ohinemutu, Rotorua, 3010 www.zymbl.co.nz



TIN Agritech Insights Project Team

GREG SHANAHAN – Managing Director, TIN

Greg established the Technology Investment Network in 1999. Under his direction, the TIN Report has enjoyed growing recognition and influence since its inception in 2005. A well-known figure in the New Zealand high-tech sector, Greg’s in-depth industry knowledge is underpinned by his role as co-founder and MD of medical device company Veriphi.

BRENDAN BOUGHEN – Operations Manager, TIN

Brendan is responsible for the overall content development and delivery of all TIN research publications from concept to launch, including writing, editing and wrangling the TIN research team.

MARINKA TEAGUE – Senior Research Analyst, TIN

Marinka has worked on the organisation and analysis of TIN’s annual TIN200 survey data for several years, helping shape both the quantitative and qualitative research outputs for this and other key TIN Reports.

ERIC YU – Research Analyst, TIN

Haoran (Eric) Yu joined TIN this year following roles as an analyst for PwC in the US and a senior consultant for GLG in China. He contributed extensively to this report through his research on the Early Stage Agritech companies.

NIKHIL LUTHRA – Research Analyst, TIN

Another new face at TIN, Nikhil brought his experience as Editor-in-Chief of the University of Auckland’s Investment Bulletin to this project, contributing significantly to the investor profiles and background research on the sector.

MOSHA Kylie Ormsby and Steven McCleery from Mosha have expertly managed the entire design process for TIN publications since 2007, directing creative style, design layout, and production scheduling.

About TIN

THE TECHNOLOGY INVESTMENT NETWORK (TIN) IS A PRIVATE COMPANY WITH A SIMPLE MISSION: TO HELP FACILITATE THE GROWTH OF THE TECHNOLOGY SECTOR IN NEW ZEALAND. THE TIN TEAM DELIVERS ON THIS OBJECTIVE IN THE FOLLOWING WAYS:

“If there is one country that has the innovation, resources, and passion to make

the difference, it will be New Zealand.” CLAUDIA RÖSSLER, Agriculture – Strategic Partnerships and

Principal Program Manager Azure Global Engineering, Microsoft

Source: Lessons from the Road: How New Zealand is leading the agritech revolution.

RESEARCH AND ANALYSISTIN is the leading independent source of information on New Zealand’s technology sector, and has been collecting and analysing data on New Zealand technology exporting companies for over 16 years.

The annual TIN Report includes detailed analysis of sector performance for the year, ranking the top 200 technology companies by revenue and publicly recognising high growth achievers with a series of annual awards. Since 2016, the TIN Report has also included an annual listing of 100 promising Early Stage Companies.

In addition, TIN undertakes research and analysis, on request, for industry participants, professional services firms, investors, and Government clients.

The NZ Agritech Insights Report is the second in a series of New Zealand sector-specific reports providing insights into the growing technology eco-system and the investment opportunities that exist in the NZ tech sector.

The first report in this series, the NZ HealthTech Insights Report 2020, can be downloaded for free from TIN’s website: www.tin100.com

NETWORKING AND INFORMATION-SHARINGTIN organises a number of industry events throughout New Zealand each year, based around business critical topics that are of high interest to sector participants.

Through our events we aim to lead a cultural change and create a common understanding of the power of the New Zealand export tech sector.

TIN also produces TINWire, a free fortnightly electronic news update on the New Zealand technology sector. To subscribe, visit our website: www.tin100.com

TIN MEMBERSHIPIncreased Profile. Meaningful Insights. Exclusive Events.

Last year, TIN began formalising our network of New Zealand’s most ambitious technology exporters through the establishment of the TIN Membership community.

Our aim is to expand the value that we bring to the sector by helping companies to, increase their profile, make connections, share ideas, and access investor networks. For more information on the benefits of becoming a TIN member, visit our web site www.tin100.com/membership-selection

For more information, visit: www.tin100.com


TECHNOLOGY INVESTMENT NETWORK

Loft 1, North Tower, Devonport Wharf, 1 Marine Square, Devonport, Auckland 0624 PO Box 32 525, Devonport, Auckland 0744, New ZealandPhone: +64 (9) 445 0362 www.tin100.com

new zealand agritech insights report€¦ · agritech companies 10.0% of tin200 companies 4,956...

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