A Raleigh-based biotechnology start-up that wants to reduce methane emissions in cattle has raised $2.5 million as part of its pre-seed funding and is looking to raise another $2 million, according to a Securities and Exchange Commission filing.
Hoofprint Biome last week received an approximately $2.4 million investment from AgriZeroNZ, a New Zealand-based investment firm that seeks to accelerate the reduction of agricultural emissions 30 percent by 2030.
Hoofprint, a North Carolina State University spinout, develops cattle probiotics and natural enzymes that improve cattle health and digestive efficiency by eliminating methane.
Good Growth Capital and Ponderosa Ventures, two firms that also invest in agricultural technology, invested money in the round as well.
The company raised $420,000 in May, according to an earlier SEC filing.
Hoofprint was founded in January by Scott Collins, who earned his doctorate in chemical and biomolecular engineering from N.C. State, and Kathryn Polkoff, who earned a doctorate in veterinary biomedical and clinical sciences also from N.C. State.