Liquidator Appointed To ‘Grassometer’ Operating Firm

07 Jul 2017 | 10.06 am

Liquidator Appointed To ‘Grassometer’ Operating Firm

Company raised €1.4m for boot-mounted grass measuring device

07 Jul 2017 | 10.06 am

Monford AG Systems Limited, the company behind the Grassometer device, is being wound up, following the appointment of a liquidator this month. The business was founded in 2011 and developed a device that uses ultrasound to measure grass growth.

Founder and CEO Steven Lock spotted a market opportunity for a no-frills grass measurement tool and took the idea to Trinity College Dublin’s technology transfer team to see if could be developed.

The resulting Grassometer device was launched in 2015; it could be affixed to a person’s boot, from where it took grass measurements as it was walked around a field, before sending data to a smart device application for processing.

Monford AG Systems Limited has raised around €1.4m since being founded. It also registered two patents including TCD researchers as named inventors, and hired an ex-Apple hardware designer as head of design.

Investors in the company included Enterprise Ireland (€300,000), Glanbia (€150,000) and The Farmers Journal (€80,000). Other investors included Kernel Capital and a New Zealand-based syndicate of investors, who provided more than €440,000.

The most recent account filings for Monford AG Systems Limited are for 2015, when the company had accumulated losses of €1.5m and a year-end net deficit of €628,000.

Stephen Lock won top prize in the annual Knowledge Transfer Impact Awards last year for his Grassometer device. The awards recognised top performance in industry engagement and commercialisation of research.

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