Forrest family's Harvest Road leads US$12m round for methane-reducing additive Rumin8

Investors affiliated with Western Australia's Forrest family and Bill Gates-founded Breakthrough Energy Ventures (BEV) have hit the gas on an Australian climate tech company whose anti-methanogenic supplements can be fed to livestock to reduce emissions.

Less than a year after its May 2022 launch and with early-stage overseas expansion already underway since November, Perth-based Rumin8 has secured US$12 million ($17.2 million) in a phase 2 seed round led by Dr Andrew and Nicola Forrest’s agri-food business Harvest Road Group and BEV, taking the total seed money raised to US$25 million ($35 million).

Existing shareholders US-based Prelude Ventures and the Aware Super Sentient WA Growth Fund also topped up their holdings in the round, with the funds allocated for commercial trials in Australia, New Zealand, Brazil and the USA, as well as product brand and pilot manufacturing plant development as the group gallops towards commercialisation.

Read More: https://www.businessnewsaustralia.com/articles/forrest-family-s-harvest-road-leads-us-12m-round-for-methane-reducing-additive-rumin8.html