New Zealand sperm technology company Engender Technologies, has secured a seven-figure deal with Asia’s largest animal genetics company, in a first for the Kiwi tech pioneers in this market.
Engender Technologies is commercialising a microfluidic and photonic technology to improve sorting of sperm by sex for the trillion dollar livestock market and is building its funding platform to accelerate its development. It already has a strong foundation of local investors and existing corporate artificial insemination partners in other regions, but a partnership in Asia has eluded them to date.
“China is an important partnership for us and shows that business between the two countries is growing closer through mutual trust and respect.” says Brent Ogilvie, Engender Technologies Managing Director.
“To have a large Chinese dairy enterprise give significant funding and resources up front while we’re still at an early stage of development is a real show of confidence in our technology.”
The Asian animal genetics company sells bovine semen to local farmers. In return for its provision of funding the company is receiving an option to licence the technology in the region in the future.
“The deal is an important gate key which will open doors for Engender Technologies to Asia’s lucrative dairy artificial insemination market. It increases our ability to go further, faster and build on the great wins we’ve had in 2016.”
Last year Engender Technologies and its founding scientist, Cather Simpson, won several toughly contested accolades both locally and globally. Engender was the first Australasian company to win the Ag Tech sector at the prestigious World Tech Cup Challenge in Silicon Valley, and Cather followed this with success at the KiwiNet Research Commercialisation Awards. In addition, Engender was recently named as one of the five most innovative international Agtech startups at the 2017 Agfunder Global Innovation Awards.
Cather Simpson, says the belief in the company from an important market like Asia reinforces that they’re on the right path.
“It’s a competitive world for tech start ups and securing a significant deal like this is not easy. We’re excited to be working with another large global artificial insemination company in a new region, with significant capital and new resources to get the year off to a flying start.”
Engender Technologies was co-founded by the University of Auckland and seed investment company Pacific Channel in 2011.