Rumin8, a Perth, Australia-based climate technology company, raised $12M in Phase 2 Seed funding.
The round was led by Breakthrough Energy Ventures, with participation from Harvest Road Group.
The company intends to use the funds to accelerate its commercialization efforts in Australia, New Zealand, Brazil and the USA, product brand development, and pilot manufacturing plant development. Funds from both seed rounds totaled approximately A$25m.
Led by CEO David Messina, Rumin8 creates climate friendly supplements which reduce methane emissions from livestock. The company leverages patent-protected technology and proprietary expertise in synthesizing and stabilizing otherwise volatile bioactive compounds (compounds that degrade or evaporate when separated from their natural plant-based carrier), which are found in nature to develop a range of feed supplements that can be provided to livestock in feed lot and pasture applications.
The company conducted a Phase 2 seed round of funding, raising US$12 million