The AI company Videquus raises SEK 10 million for expansion within HorseTech

Av Linus Jernbom under news

After achieving fantastic results with the intelligent FoalGuard, Videquus will expand both in Sweden and in new markets internationally. This is possible through a financing round with both existing and new investors that has resulted in just over SEK 10 million.

Videquus makes a unique camera for horses that uses AI, based on image recognition and machine learning, to analyze horses’ behavior and alert the owners when something is wrong. Videquus has now applied for a patent for its foaling alarm, which predicted foaling in as many as 94% of the pregnant mares that were monitored. This result is not only a breakthrough for everyone who sits up at night for several weeks to watch over their pregnant mare but also a breakthrough to be able to detect early signs of colic and other diseases. The behavioral changes before foaling are in all probability comparable to those in colic. Videquus is investigating to confirm these similarities in a study together with SLU and Folksam.

In the recently closed investment round, Skaraborg Invest AB and Almi Invest Västsverige AB continue to invest in the company and retain their positions as leading investors in Videquus. Virtually all other owners are also in the round alongside a handful of new, including strategically important SLU Holding that has already resulted in new studies in equine welfare.

– I am so proud and humble in the face of the support that existing owners have shown! They choose both to continue investing themselves, but also to present Videquus to other stakeholders. That way they have contributed to this financing round being carried out in such a good way, says Linus Jernbom, CEO of Videquus

This is Videquus’ largest round of financing to date, and the next step is to expand both in Sweden and abroad. The team will be expanded with developers, and sales and marketing resources to continue to be able to deliver value to horse owners. Videquus is already today a world leader in the intelligent monitoring of horses and has the ambition to continue to expand the product and service range to become the hub in the intelligent stable. This can be done either with in-house developed products or with products and services developed by others that can benefit from the technical infrastructure that Videquus has built up.

– It was an easy decision for us at Skaraborg Invest to continue to support Videquus on its growth journey. The company has shown a strong ability to manage the capital invested and made many right choices in both headwinds and headwinds. In combination with the fantastic idea that Videquus is based on, there are all opportunities for Videquus to become a globally successful company in the giant market of horse industry, says Carl Henrik Ohlsson, CEO of Skaraborg Invest AB and Chairman of Videquus.

 

For more information, please contact:
Linus Jernbom, CEO of Videquus: +46 764-10 76 74, linus@videquus.se
Carl Henrik Ohlsson, CEO of Skaraborg Invest AB and Chairman of Videquus, cho@skaraborginvest.se

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