Agora Livestock awarded $550,000 Federal Government grant to turbocharge plans to triple number of users

Agora Livestock has $1.1 million in its kitty to take its digital services platform to a new level after being awarded a $550,000 Accelerating Commercialisation Grant from the Federal Government and raising matching shareholder funds.

The Accelerating Commercialisation initiative is part of an almost $20 million Federal Government funding package for emerging Australian companies and falls within the AusIndustry Entrepreneurs’ Program, providing technology-driven companies with advice and funding to help get their novel products, processes or services to market.

Agora founder Rob Kelly said the government funds were matched by shareholder investment, which it managed to raise last year through a fundraising drive.

He said the $1.1m would be used to fast track its development goals by adding additional staff, improving the platform to provide more efficiency for users and create more stability to the business, as it seeks to triple its platform users by the end of 2023.

Agora currently has 6500 subscribers and livestock buyers across Australia’s $18 billion livestock sector.

Mr Kelly said Agora “can’t change livestock prices” but it does “save farmers and agents a lot of time” by giving them fast access to market reports and prices.

Soon, it will provide users the ability to quickly offer livestock through the platform, to a much wider number of buyers.

“It provides for better market access and efficiency for sellers,” he said, which could help with industry retention and job creation.

“It’s pleasing that the potential of our platform has been recognised by the Federal Government through this funding, which will allow us to fast-track Agora’s development milestones in the coming months.”

He said Agora had five staff and had been relying on advisors and outsourcing software development — which would all change now that the funding had been received.

He said Agora was disrupting the “old-school approach to livestock trading”, by connecting producers, agents and buyers directly and transparently and providing real-time market pricing and detailed order fulfilment.

“Our cost-efficient software as a service business model makes it accessible to buyers, agents and farmers, no matter the size of their operation,” he said.

“That efficiency, and the platform’s potential to generate strong profits in the near future, has also underpinned Agora’s ability to attract market participants (such as farmers, livestock buyers and agents) as direct investors.

“The outcome for sellers using Agora includes better financial return per transaction and the delivery of healthier livestock, straight from the farm.

“For buyers, it improves traceability — and for both buyers and sellers, it quickly increases market access by connecting them all within one marketplace.”

The Agora platform was established in 2018, since then it has evolved from a service that shared livestock prices, to an online platform providing price discovery and market access for Australia’s cattle, sheep and goat markets.

Agora was notified of the grant late last year but the announcement had been embargoed until now.