Connecterra sells tag business to Datamars, gains 'patient capital'
Plus, 3 tips for startups hoping to be acquired one day
Dutch startup Connecterra recently sold its activity monitoring tag business to Swiss-based Datamars, a 30-plus-year-old company with more than 2,000 employees and 4,000 distributors worldwide. It has customers in more than 100 countries.
Farmers who were using Connecterra activity monitors and its ‘Ida’ machine intelligence assistant will now be serviced by Datamars. The acquiring company also gained a majority share in Connecterra.
Connecterra CEO Yasir Khokhar says the move allows Connecterra to accelerate development of its Enterprise platform – a machine intelligence for metadata processing. Khokhar hopes to unlock industry insights and new innovations by further developing that platform.
“We had a hardware product that was ready to go big and a data platform that needs patient capital,” Khokhar says. “What we now have is a patient capital provider that also knows the livestock space.”
In a recent interview before the announcement was made public, Khokhar said funding as a startup in the cow technology space can be tricky.