BinSentry raises CAD $50M to expand AI feed tech globally

BinSentry has secured a CAD $50 million Series C funding round led by Lead Edge Capital to support its sensor technology and software platform, improving feed supply chain operations in the agriculture sector.

The investment will allow BinSentry to advance its global reach following significant year-on-year growth and address growing industry demand for automation and cost-efficient precision tools in livestock feed management.

Technology deployment

BinSentry's platform combines artificial intelligence-powered, solar-enabled, self-cleaning sensors with proprietary software to deliver real-time monitoring of on-farm feed levels. With claimed accuracy rates of 99%, the sensors are designed to eliminate the labour-intensive practice of manual inventory checks and mitigate the risks associated with feed outages at agricultural operations.

The system's data feeds into a mobile dashboard, enabling feed mills and major agricultural companies to forecast demand more effectively, reduce feed waste, and verify profitability. BinSentry's solution currently supports several prominent animal agriculture players in North America and Brazil, such as Cargill, Wayne-Sanderson Farms, and Hanor.

"We've been closely monitoring parts of the agriculture supply chain that have historically been underserved by software in anticipation of large agricultural companies needing better tools for cost savings, forecasting, and operational efficiency," said Aaron Darr, Principal at Lead Edge Capital. "BinSentry is exactly the kind of company we look for: a proven business with real customer traction using AI, real-time data, and automation to solve critical problems. As the agtech sector matures, companies like BinSentry with strong fundamentals and clear ROI are best positioned to lead the next wave of innovation."

BinSentry's technology is designed to provide actionable insights, allowing agriculture companies to improve process control, decrease transportation expenses, and lower feed conversion ratios–all factors contributing to higher margins. By increasing visibility in the supply chain, users can address persistent issues such as inventory inaccuracies, wasted stock, outages, and budget discrepancies.

Growth and market presence

Earlier this year, Cargill and BinSentry entered a partnership, making Cargill the exclusive distributor of BinSentry's animal feed inventory management platform in Brazil. According to the company, BinSentry is currently monitoring over 40,000 bins across North America and Brazil, reporting annual growth of over 100% and a customer churn rate of zero.

Ben Allen, Chief Executive Officer of BinSentry, outlined the company's strategic direction and value proposition for the sector:

"At BinSentry, our mission is to bring innovation, precision and visibility to one of agriculture's most overlooked but critical challenges: feed logistics. Our best-in-class sensors ensure large agricultural companies, feed mills, and their customers get the right feed at the right time, every time. With the support of our investors, we're continuing to expand globally and offering our customers flexible options like a lifetime product warranty and no upfront costs," said Allen.

Paul Bell, who has extensive experience from previous roles, including as a member of the executive committee at Dell, will join BinSentry's Board of Directors. Bell's background covers global operations management and involvement with growth-stage technology companies.