SAN ANTONIO, Sept. 24, 2019 /PRNewswire/ -- In the past few months, Ron Hicks, HerdX Founder and CEO, has barely touched ground as he flew from state to state meeting with U.S. based processors, farmers and ranchers. HerdX is pleased to announce partnerships with processors representing over 200 farms in Texas, Iowa, Wisconsin, and Oklahoma. HerdX will showcase these U.S. farms in restaurants and grocery stores coast to coast and internationally in the coming year, highlighting the story of the American livestock producer, and connecting consumers with their food.
Hicks states, "It has been my desire since the start, to support farmers and ranchers who are environmentally conscious and deeply care about providing clean, healthy meat products for consumers. These exciting recent developments with 'legacy ranchers' across the U.S. have reduced our need for the early funding capital we previously expected as we are rolling out our systems faster than we thought."
HerdX has decided to cap its latest funding round to under $10M. HerdX believes its exponential growth over the past few months has significantly reduced its need for near term capital as revenue streams start to flow in.
The recent funding round was led by institutional investment groups, Monmouth Ventures and KBX Capital.
HerdX uses patented technology on farms to securely gather data to create operational efficiencies and enhance animal health through the HerdView™ system. The HerdX Taste of Trust™ solution utilizes blockchain to track the movement of meat through the supply chain, giving authenticated data to the end consumer. The consumer, at the restaurant or grocery store, is in turn able to "meet" the farmer through a QR code enabled landing page.
SOURCE HerdX Inc.