# SomaDetect

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/somadetect

- Industry: Software
- Headquarters: Fredericton, Canada
- Website: www.somadetect.com
- Total disclosed funding: $7M
- Latest round: Series A (Mar 2, 2021)
- Investors on record: 7

## About

SomaDetect Inc. develops innovative sensor and software solutions tailored for dairy farmers, enhancing herd health and optimizing milk production through real-time insights and analytics.Founded in 2016 by Bethany Deshpande, Bharath Sudarsan, and Nicholas Clermont, SomaDetect Inc. operates out of Fredericton, Canada, focusing on providing advanced dairy management solutions. The company has raised CAD 6 million in its Series A funding round on March 2, 2021, led by AG Capital Canada, with participation from existing investors including Builders VC and Cavallo Ventures, as well as new investor Merck Animal Health Ventures. The company has completed a total of 6 deals to date.SomaDetect provides an advanced suite of sensor and software solutions specifically designed for dairy farmers, aimed at enhancing herd health and optimizing milk production. The core offering is a cutting-edge optical sensor system that integrates with milking equipment to capture real-time light-scatter patterns in raw milk. This data is processed using proprietary AI models to deliver actionable insights on health, reproduction, and nutrition for each cow. Key products include SomaSENTINEL™, which ranks herds based on somatic cell counts to manage at-risk cows, and SomaRECON™, which monitors post-insemination milk to identify early pregnancy risks, primarily serving dairy farms in North America, especially in Alberta and Colorado.SomaDetect's revenue structure is based on subscription services for their technology solutions, allowing continued access to data and insights. Clients engage with SomaDetect's sensor systems and software for ongoing herd management, paying for initial installation and setup followed by recurring fees for data monitoring and analytics. This direct-to-consumer approach enables farmers to streamline operations and enhance productivity while maintaining optimal herd health, reflecting the value of reducing costs associated with herd health management and milk quality.Following the Series A funding of CAD 6 million raised in March 2021, SomaDetect plans to expand its technology offerings to more farmers across Canada and the US. The funding will support the development of new products and the scaling of their existing solutions to penetrate additional markets. Specific upcoming products and their release dates have not been disclosed, but the company is focused on enhancing its market reach and improving its current offerings.

## Funding rounds

- Series A, Mar 2, 2021, $4.7M — Builders VC, Cavallo Ventures, AG Capital Canada, Merck Animal Health Ventures
- Seed, Aug 12, 2019, $2M — New Brunswick Innovation Foundation, New York Ventures
- Seed, Jun 19, 2018, $0.3M — New Brunswick Innovation Foundation
- Seed, Jun 1, 2018 — iGan Partners

## Investors

- iGan Partners (https://capitalatlas.ai/funds/igan-partners) — Seed
- New Brunswick Innovation Foundation (https://capitalatlas.ai/funds/new-brunswick-innovation-foundation) — Seed
- New York Ventures (https://capitalatlas.ai/funds/new-york-ventures) — Seed
- Builders VC (https://capitalatlas.ai/funds/builders-vc) — Series A
- Cavallo Ventures (https://capitalatlas.ai/funds/cavallo-ventures) — Series A
- AG Capital Canada (https://capitalatlas.ai/funds/ag-capital-canada) — Series A
- Merck Animal Health Ventures (https://capitalatlas.ai/funds/merck-animal-health-ventures) — Series A