Banco do Brasil announced a USD $1.4 million investment in the Brazilian agtech firm iRancho through its corporate venture capital fund, BB Ventures, managed by MSW Capital. The investment aims to accelerate sustainable livestock farming practices across Brazil and beyond.
Founded in 2016, iRancho focuses on improving farm productivity and profitability through user-friendly technological solutions. “iRancho was born in the pen from a rancher’s need for a system that simplifies farm management,” states the company on its website.
iRancho’s platform leverages data analytics and blockchain technology to offer three main solutions:
- iRancho: A livestock control and farm management system.
- BeefStats: A tool that evaluates breeding and fattening operations through calculations, revealing both risks and commercial opportunities.
- SafeBeef: A free-to-use cattle traceability platform utilizing management data for animal tracking.
These solutions allow farmers more precise control over their livestock, increasing productivity and cost savings.
According to J.P. Morgan, the region is becoming increasingly important as a global granary, with its agricultural and food exports accounting for 16% of the global total. Given the growing demand and production, initiatives like iRancho are pivotal for the region’s agricultural development and sustainability.
Luiz Gustavo Braz Lage, Vice President of Agribusiness at Banco do Brasil, emphasized that the bank prioritizes solutions for the entire agri-food chain. The investment in iRancho aligns well with this mission, potentially revolutionizing the livestock sector.