In a recent SEC filing, SwineTech disclosed the raising of a $1.5 million debt round to begin its expansion into other states and countries. The company, based in Cedar Rapids, Iowa, is the provider of unique technologies that facilitate piglet safety during pork production.
Using multiple proprietary technologies including acoustics and artificial intelligence algorithms, the SwineTech Smart Guard system helps alert sows to the potential crushing of a piglet during feeding.
“Our product, SmartGuard, has proven to show results even greater than previously expected, and as a result, the business is growing,” said Matthew Rooda, CEO of SwineTech. “In the meantime, we are looking to bring on additional sales staff.”
The company is a multi-faceted technology company, blending hardware with artificial intelligence software that helps automate the monitoring process for hogs. For example, the artificial intelligence monitors multiple signs––including piglet distress calls––to identify and alert. This artificial intelligence product has won numerous awards and continues to evolve.
According to the U.S. Census Bureau, Iowa ranks first in the United States for pork production, producing $4.2 billion annually. The Cedar Rapids/Iowa City corridor continues to produce a number of livestock and agriculture-related technologies and companies. Within this group, SwineTech continues to be a leader.
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According to Rooda, the company is preparing its expansion plans.
“We have demand from the world’s leading producers and now are preparing to expand our technologies outside the Midwest,” said Rooda.
However, they have not lost touch with their Iowa roots. They will be presenting their device at the Iowa Pork Congress and have a clever way to calculate return-on-investment (“ROI”) on their website (https://swinetechnologies.com/return-on-investment-calculator/).
