Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Pāmu Welcomes Major US Investment In Ag Sector Technology

The investment by major United States company Merck and Co in FarmIQ, is an endorsement of the technology that Pāmu has been championing since the inception of the agri-tech company, Pāmu Chief Executive Steven Carden says.

“This latest investment from a global player in animal health and welfare confirms the vision we had when FarmIQ was started, which was to enable greater productivity by joining up the whole agriculture data ecosystem,” Mr Carden said.

Pāmu holds a 30% shareholding in FarmIQ and is one of its original shareholders and biggest customers. The company has actively championed changes such as the Health and Safety module widely used by FarmIQ customers.

“Merck’s investment in FarmIQ through their MSD Animal Health subsidiary company is an acknowledgement that the global ag sector is looking for innovative solutions for the challenges we face, and the fact they have realised the huge potential and uniqueness of the FarmIQ platform, and are prepared to invest in the company, is something all New Zealanders can be proud of.

FarmIQ is focused on finding creative technical solutions that help farmers in their day to day business. It is not as well-known as another innovative tech company, Xero, but it has been just as revolutionary for farmers as Xero has been for small businesses. Like Xero it is a uniquely kiwi solution that is now taking on the world,” Mr Carden said.

FarmIQ could not have got to this stage of its development without the initial support of the NZ Government and the current shareholders, who have continued to nurture the business through both further investment but also by using and championing the FarmIQ platform in their own businesses, Carden says.

“The productivity gains from incorporating FarmIQ into our own farming business have been enormous.

FarmIQ is poised to enter a new growth phase, and the synergies and learnings we will get from MSD as an active shareholder will ensure the continued success, in NZ and globally, of FarmIQ. As more farmers become connected to the FarmIQ business and benefit from its unique and comprehensive functionality, agriculture as a whole, and New Zealand, will benefit.

“Pāmu will also continue to play our part to ensure FarmIQ continues to be a world beating tech solution that all New Zealanders can take price in,” Mr Carden said.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Reserve Bank: RBNZ To Implement $30bn Large Scale Asset Purchase Programme Of NZ Govt Bonds

The Monetary Policy Committee (MPC) has decided to implement a Large Scale Asset Purchase programme (LSAP) of New Zealand government bonds. The negative economic implications of the coronavirus outbreak have continued to intensify. The Committee ... More>>


Elevate NZ: Venture Fund To Lift Productivity

The Government’s new $300 million venture capital fund - announced in last year’s Budget – is now open for business as the Elevate NZ Venture Fund. Finance Minister Grant Robertson says lifting New Zealand's productivity requires well-functioning ... More>>


COVID-19: Case Confirmed In NZ – Expert Reaction

After spreading across the globe for months, the first case of COVID-19 has been reported in New Zealand. The Ministry of Health says the risk of a community outbreak is low, due to their preparedness and the high awareness of the disease. The Science ... More>>


Agriculture: New Legislation To Boost Organics

New organics legislation will boost consumer confidence and help grow an innovative sector, says Food Safety Minister Damien O’Connor. “The Organics Product Bill, introduced to Parliament this week, aims to increase consumer confidence when purchasing ... More>>


Biodiversity Policy: Misinformation Circulating

Forest & Bird is concerned at misinformation circulating regarding a policy statement aimed at protecting New Zealand’s unique biodiversity. The National Policy Statement for Indigenous Biodiversity is being consulted on by the ... More>>