BinSentry has won a major innovation award in the United States, which will likely allow the Kitchener startup to make a big splash in the U.S. market.
BinSentry was one of two companies named winners of the THRIVE Midwest Challenge and recipients of the 2019 THRIVE-Forbes Innovation Icon Award at the Forbes AgTech Summit in Indianapolis last week.
The challenge is a pitch competition for startups developing ag biotechnology, livestock, and animal health and digital crop technology.
BinSentry developed an Agricultural Internet of Things sensor that is used by feed-mills and vertical integrators to provide accurately and timely data pertaining to inventory on their customer farms.
Feed mills can then use that information to find efficiencies in producing and transporting feed.
"To BinSentry winning this award means that as we continue to expand into the US (and the world) our stellar reputation which we've worked hard to establish with Ontario feed companies, will precede us." BinSentry Co-Founder and CEO, Randall Schwartzentruber told KitchenerToday.com.
"The Forbes event is co-run by the US National Pork Board (Pork Checkoff) and being recognized by both Forbes and NPB is a strong affirmation that the innovative technology we're developing, truly solves some of the greatest challenges that feed-mills and producers face on a daily basis. Already, the press we've received from the Forbes event has delivered a marked increase in inbound interest from around the world." Schwartzentruber added.
In addition, BinSentry will receive a $100,000 investment from SVG Ventures, an advertisement in an upcoming issue of Forbes magazine, plus a spot in the THRIVE VI Accelerator 2020.
BinSentry, which launched in 2017, currently has ten full-time employees, but Schwartzentruber says due to rapid growth they should bet at 15 by the end of 2019.