Key Takeaways
- Banco do Brasil has invested $1.4 million in the agtech startup iRancho through its corporate venture capital fund, BB Ventures.
- The investment aims to transform the livestock sector and support sustainable livestock management in Brazil.
- iRancho’s platform is used in over 3,500 rural properties in Brazil and abroad, highlighting its growing global significance.
- The move aligns with Banco do Brasil’s commitment to promoting sustainable and responsible agricultural practices.
Introduction
Banco do Brasil, one of the leading financial institutions in Brazil, has announced a $1.4 million investment in iRancho, a local agtech startup. The investment was made through BB Ventures, the bank’s corporate venture capital fund managed by MSW Capital. The financial backing aims to revolutionize the livestock sector and support sustainable livestock management in Brazil.
About iRancho
Founded in 2016, iRancho has been offering technological solutions that assist ranchers in managing their operations efficiently. The startup’s platform is used in more than 3,500 rural properties in Brazil and other countries, reflecting its growing importance in the global agricultural community.
Data-Driven Livestock Management
One of the standout features of iRancho is its ability to collect and analyze animal traceability and pen management data. This gives ranchers more precise control over their livestock, increasing productivity and cost savings.
Banco do Brasil’s Commitment
Luiz Gustavo Braz Lage, Vice President of Agribusiness at Banco do Brasil, emphasized the bank’s ongoing commitment to supporting the Brazilian agricultural and livestock sectors. The financial institution aims to promote solutions across the entire agri-food chain. Moreover, Banco do Brasil considers Environmental, Social, and Governance (ESG) practices to contribute to the sustainable transformation of the field through technology.
Strategic Alignment
The investment in iRancho aligns perfectly with Banco do Brasil’s vision. It seeks to modernize the livestock industry and enhance production efficiency while promoting sustainable and environmentally responsible agricultural practices.
Photo by BRUNO ALTEA on Unsplash
