Finaves V, the seed capital fund promoted by IESE, has invested in Ixoriguè, a Spain-based agritech startup that has developed an IoT livestock management tool which allows cattle farmers to more closely track the location and health of their livestock.
Ixoriguè‘s technology is based around a collar with built-in battery-powered sensors that is attached to individual livestock. The collar monitors the movement of free-range cows, providing real-time information that can increase productivity up to 3 times.
There are roughly 350 million free-range cows in Europe and Latin America combined. So far, this market has not been digitized because it has not been technically possible. However, the recent development of new IoT technologies such as sensors and exhaustive network coverage make it possible and create a promising business opportunity.
Other investors who participated in the current financing round are members of the IESE Business Angels Network and other smaller investors who invested through the crowd funding platform Crowdcube.
Ignacio Vallejo-Nágeram, a serial entrepreneur and consultant, is CEO of Ixoriguè, which was founded in 2019. Vallejo-Nágeram worked for over seven years for Accenture; more than two years for Stub hub, where his last role was Head of Strategy and Operations; and founded two startups prior to joining Ixoriguè.