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BinSentry

Category: AI in Agriculture

BinSentry provides an AI-powered sensor technology and software platform to monitor on-farm feed inventory, helping to modernize and optimize the animal feed supply chain. BinSentry was founded in 2017. The company is led by Ben Allen. Based in Kitchener, Canada. Team size: 51-200. Total funding raised: $97.7M. Latest round: Debt. Key investors include Lead Edge Capital, Lewis & Clark AgriFood, BDC Capital, Spring Mountain Capital, Garage Capital, CIBC Innovation Banking.

Founded
2017
Headquarters
Kitchener, Canada
Team size
51-200
Total funding
$97.7M

Value proposition

To provide accurate, real-time feed inventory data that reduces feed waste, prevents costly out-of-feed events, optimizes delivery logistics, and improves operational profitability and safety.

Products and solutions

ProSense Feed: AI-powered feed management platform for real-time inventory visibility, demand forecasting, and automated ordering., ProSense HD: Heavy-duty, AI-powered 3D sensing engineered for commercial silos and large-scale grain environments.

Unique value

BinSentry's uniqueness lies in its combination of highly accurate 3D machine vision sensors with an AI-powered software platform. Unlike single-point sensors, its device takes over 9,000 measurements to accurately map the feed surface, accounting for irregularities and providing a true volumetric measurement.

Target customer

Feed mills and animal producers, including those in the poultry, swine, and cattle sectors.

Industries served

Agriculture, AgTech, Animal Feed Supply Chain

Technology advantage

The core advantage is the high accuracy (98%+) of its patented 3D sensors, which provides reliable data. This data is fed into an AI platform that offers predictive analytics for feed ordering, enabling just-in-time deliveries, reducing carrying costs, and minimizing feed waste. The sensors are also solar-powered and feature a patented, easy-to-install design.

How they differentiate

BinSentry differentiates itself through its AI-powered sensors that provide real-time, accurate feed inventory data. This allows for automation of the ordering process, reduction of feed waste, and prevention of costly out-of-feed incidents, ultimately improving operational efficiency for feed mills and livestock producers.

Main competitors

Nanolike, CattleEye, Hencol

Key partnerships

Cargill, Wayne-Sanderson Farms, Hanor, Digi International

Notable customers

Cargill

Major milestones

Secured $50 million in a Series C funding round led by Lead Edge Capital., Secured $25 million growth capital facility from CIBC Innovation Banking., Surpassed 60,000 assets monitored daily., Expanded to monitoring feed bins across North America and Brazil., Announced the issuance of new patents for its AI technology.

Growth metrics

The company monitors over 60,000 assets daily across the world's leading integrators, feed mills, and producers. The team has grown to 120+ employees across engineering, product, and customer success.

Market positioning

BinSentry is positioned as a key technology provider for modernizing the animal feed supply chain. It targets large-scale animal agriculture enterprises, including major feed producers and livestock operations, offering them a solution to optimize logistics and reduce operational costs.

Geographic focus

Based in Canada, BinSentry has a strong focus on the North American market. However, with its recent funding, the company is actively pursuing global expansion to serve international markets.

Patents and IP

BinSentry holds a patent for a method that uses Artificial Intelligence (AI) with a time-of-flight sensor to accurately determine the volume of animal feed in a bin. They also have a patented installation technology for their sensors.

About Ben Allen

Ben Allen joined BinSentry after serving as Head of Global Market Development at Indigo Ag, where he helped grow the company from $300M to $3B valuation. Prior to that, he led efforts to scale Agri-Trend's AgriData software (acquired by Trimble in 2015). Earlier in his career, he worked at AMD in Silicon Valley and raised venture funding for a contract farming venture after 9/11.

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