Main Menu

Raises £1.8m

Dyneval raises funds to launch cattle test kit

Dyneval

Tiffany Wood with co-founder Dr Vincent Martinez

Dyneval, a Roslin-based biotechnology start-up, has raised more than £1.8 million ahead of launching its testing kit to improve cattle conception rates.

A 20% fall in conception over the last 40 years is costing the average dairy farmer in the UK about £37,000 per year. 

Dyneval’s Dynescan is a portable instrument that provides reliable measurements of livestock semen quality, ensuring only the right samples are used for reproduction.

Independent analysis suggests that if conception rates can be elevated by 27%, the carbon footprint of farming could be reduced by up to 20%.

The company has raised £1.29 million of Series A equity investment through a collaborative funding round, which included Northern Irish entrepreneur Jim Dobson of Cottagequinn Enterprises, Kelvin Capital, Par Equity, Gabriel Investments, and Scottish Enterprise.

Newsletter

As part of the funding round, Dyneval also won a £575,000 grant from InnovateUK under its Transforming Food Production Series A Investor Partnership.

Earlier this year, the company secured £100,000 at the Scottish Edge competition.

The company will be recruiting seven staff over the next few months.

Tiffany Wood, CEO at Dyneval, said: “The Series A funding will be critical to launching our product and growing our team – it is an incredibly exciting time for our business.

“Dyneval’s technology is automated and easy to use so that anyone can check semen quality, from the time it leaves a genetics company, during storage on farm, and prior to insemination by a technician. 

“Through regular checks, our tool will improve the quality, handling and storage procedures for semen across the livestock production industry.”

Mr Dobson said: “Dyneval met our criteria of being an early-stage company, looking for smart money with a focus on a solution that is a clear win for agri-production, not only in the UK, but globally.

“We look forward to an exciting journey with a great team in Dyneval as they aim to address key challenges in the agri-food supply chain.”

Liz Fletcher, director of business engagement and operations at IBioIC, said: “”Dyneval’s technology has global potential, making it a great example of the type of early-stage company we need to support and nurture in Scotland.”



Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.