Dyneval secures Series A invesment
Dyneval is delighted to announce that it has secured total funding of over £1.8M to establish a new quality control standard for semen analysis that will benefit users across the livestock production chain.
As part of the funding round Dyneval secured a £575K grant from InnovateUK under the Transforming Food Production Series A Investor Partnership. Securing lead investor support from Jim Dobson of Cottagequinn Enterprises Ltd within the Series A Partnership, and through a collaborative funding investment round led by Kelvin Capital and supported by Par Equity, Gabriel Investments and Scottish Enterprise a further £1.293m of equity investment was raised.
Jim Dobson, the co-founder and former CEO of Dunbia, which he grew from a small butchers shop in the 1970s to one of Northern Ireland’s most successful private companies, exporting to over 50 countries worldwide 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’.
Dyneval was incorporated in April 2020, winning the Glasgow Biocity Accelerator in 2020. Experienced entrepreneur and engineer Richard Cooper took the helm as Chairman and guided the founders through raising investment and product development.
In May 2021, the team gained confidence after winning the IBioIC Edge award of £100K at the Scottish Edge competition which helped them to develop their first product through subcontracting Scottish-based companies, i4pd, Firefinch Software and Albacom.
“We are proud to have supported Dyneval in its journey so far and are pleased to see the company attract substantial funding from a group of venerable investors. The company is delivering world-leading innovation that could make a significant difference to the agri-food supply chain, and the drive towards more sustainable farming practices. 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.”
Liz Fletcher, director of business engagement and operations at IBioIC