At the core of DIT is an unrelenting passion and commitment to drive innovation and productivity to change the way livestock in Australia are supplemented and managed.
Why is this important?
Cattle and sheep are fed a wide range of supplements to overcome the nutritional deficiencies of native Australian grasses, increasing survival and fertility rates, especially during extended periods of drought. Currently, the conventional method of supplementing cattle and sheep is in a dry powdered form or molasses which is labour intensive, inaccurate and expensive - costing upwards of 40c per animal per day. When multiplied over several thousand head of cattle or sheep, this is an enormous cost to graziers. And that doesn’t include the time, labour and wear and tear on farm equipment required. DIT uses technology to disrupt this old model by proportionally dosing these supplements into livestock drinking water.
When our proportional dosing dispensers and uniquely-formulated water-soluble stockfeed supplements are used together, the cost can reduce from 40c to 8c per animal per day. A grazier with 500 head of cattle will cover the cost of buying the dosing unit in 50 days.
Leveraging a growing opportunity
In 2017, DIT strategically acquired its only major competitor in this space gaining an active client list and combining years of knowledge, expertise and experience in water supplementation under one roof. This year, DIT completed a purpose-built facility in Toowoomba which has the capacity to produce over $100k worth of revenue generating activity per day and with approximately 92.5 million cattle and sheep in Australia, there is a huge market to service.
With limited resources DIT has increased its customer base and revenue by over 300% in the last 6 months alone. As sales of dosing units increase, so does the recurring revenue generated through supplement sales. Between July and October 2018, DIT generated 408K in revenue, already turning a profit of $34K. The capital raised via the crowdfund will be used to fund growth, hire staff, set up ‘micro factories’ and invest in R&D.
The livestock industry is not only one of Australia’s largest but it has deep roots in our history. It faces enormous pressure and challenges, including more severe droughts and weather patterns, the ever-increasing costs of doing business and a volatile regulatory environment. On the flip side a growing global population means demand for quality protein sources has never been so high. As the only business globally that specialises in this IP protected technology, DIT has the critical first mover advantage and the capital raised from our crowdfund will enable DIT to capitalise on this and scale quickly.
DIT plans to change the face of agriculture in Australia by disrupting many years of farming practice, creating food security for generations to come.
What is equity crowdfunding?
Equity crowdfunding became accessible to all Australian's over the age of 18 in January this year (2018). It's a new way to invest that enables broad groups of investors (‘the crowd’) to fund early stage companies in return for equity. It helps these companies access the capital they require and gives investors a chance to invest in businesses they are passionate about. Retail investors can invest up to $10,000. Sophisticated investors are unlimited in their investment.
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