Micron Agritech secures €2.7m for AI-powered parasite test
A Dublin-based agritech looking to revolutionise rapid animal testing using AI has raised €2.7 million in funding co-led by ACT VC, Atlantic Bridge and Yield Lab Europe.
Micron Agritech has raised a cumulative €5 million to date in support of its flagship Micron Kit, positioning itself for further expansion in both the Irish and UK markets.
Founded by Daniel Izquierdo, Tara McElligott and Sean Smith in 2019, the Micron Kit allows veterinarians to conduct on-site, rapid parasite testing on animals using their mobile phones. The platform’s task is to combat the increased resistance to anti-parasiticides and reduce the unnecessary reliance on worm treatments by the agriculture sector. Micron Agritech is also keen to protect the limited medicinal arsenal currently in place to combat these diseases while monitoring the prevalence of resistance on farms in Ireland and the UK.
Currently, it can take up to five days to receive the results of laboratory tests confirming the presence or absence of internal parasites, prompting many farmers to administer treatments without conducting prior testing, many choosing to give a blanket ‘dose’ to the herd. This practice has contributed significantly to complications such as anthelmintic resistance – already rendering some modern medications useless, which is a major cause of concern for the European Union and the UK alike.
A recent report from the IFA Animal Health Council in July has highlighted the need for additional support for farmers in relation to parasite control. Internal parasites remain a prominent health issue among grazing animals, contributing to a 33% increase in agricultural emissions and reduced animal yields. Some financial support is accessible through the TASAH (Targeted Advisory Service on Animal Health) Parasite Control program. Micron Agritech, suitable for use with the TASAH scheme, holds the potential to alleviate the challenges associated with parasite management and the build-up of resistance currently confronting the animal health sector.
Daniel Izquierdo, chief executive officer, co-founder of Micron Agritech said: “As we continue to grow and expand our cutting-edge platform, we aim to revolutionise how animal health is managed globally. Our goal is to make our platform accessible to vets across the globe, starting with penetration across the Irish and UK markets, which will combat the build up of medication resistance, while giving farmers and vets tools to monitor animal health, improve the lives of their animals while increasing productivity.”
Dominik Leisi, senior investment associate, Atlantic Bridge, said: “ Since spinning out from TU Dublin Tara, Daniel and Sean have built an excellent foundation on which to expand internationally to address the huge issue of overuse of anti-parasitic medication.”
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