Renatus Capital Partners, a private equity firm, has completed a multi-million-euro investment in Herdwatch, the livestock management platform.

FRS Network, one of its founding members, and Fabien Peyaud, co-founder and CEO, will remain “significant shareholders” in the business. The terms of the deal have not been disclosed. Conor Mehigan of Renatus said the investment will enable Herdwatch to further develop its farm management software.

Herdwatch is used on over 18,000 farms in Ireland and the UK. Farmers can use it to register calves, track animal health and map their farms.

Earlier this year, the company launched Flockwatch, a new platform that helps sheep farmers track ewe and flock performance and streamline compliance reporting.

It plans on launching Flockwatch in the US, Canada, New Zealand and Australia in the near future.

The company currently employs 60 people and plans to increase this to 80 over the next two years to support its international growth and farm digitalisation efforts.

Fabien Peyaud, CEO and co-founder of Herdwatch, said: “We have the ambition, fantastic people on the team, and now the balance sheet to match. This is the start of an exciting new chapter in the Herdwatch story. Watch this space.”