The Irish agritech company Iamus is liquidated

Award-winning Dublin-based agritech Iamus Technologies has gone bankrupt.

t had raised more than €1 million from supporters, including a vehicle controlled by the Carton family, who sold their Manor Farm chicken business to Scandi Standard in Sweden in 2017.

Iamus was founded in 2018 by its CEO, Shane Kiernan.

The artificial intelligence and robotics company had developed an autonomous robotic system called Gallus that, when used in chicken coops, monitors the welfare and environmental conditions in the coop.

The data provided enabled farmers to make decisions that could improve efficiency and sustainability.

Gallus measures variables such as ammonium levels in the air, light, carbon dioxide and sensors that can also determine a bird’s weight.

In 2020, Iamus was recognized as the best overall start-up winner at the Enterprise Ireland Innovation Arena Awards.

Enterprise Ireland had invested a total of 300,000 euros in Iamus.

In 2020 she invested 200,000 euros and in 2021 another 100,000 euros.

The Carton family’s Themvar vehicle was the largest single investor in the Agritech company.

She invested €700,000 in two separate allotments in 2020 and a further €100,000 in 2021.

Brothers Vincent and Justin Carton sold the Manor Park group to Scandi Standard in 2017 for €70m in cash and shares.

Company records show that just over a week ago, a creditors’ meeting was held by Iamus Technologies, employing only a handful of people.

A statement from Iris Oifigúil reads: “It has been demonstrated to the satisfaction of this Assembly that the Company is unable to continue in business due to its liabilities and that it is advisable to wind it up.”

Shane McAleer of Somers, Murphy & Earl Corporate Services has been appointed liquidator.

The most recent publicly available accounts for Iamus show that the Company had a total of €234,000 in shareholder funds at the end of December 2020 as a result of this year’s fundraising.

In 2020 she made a loss of more than 330,000 euros.

Iamus had worked with major global food companies and hoped to raise an additional $3 million by 2020 to help further develop and commercialize its technology.

In 2021, the company was named as a finalist for the 2021 Future Food Asia Award, which featured a $100,000 first prize. It was one of only 10 companies from around the world selected as finalists and the only one from Ireland.

“The 2021 Future Food Asia Awards finale represents a tremendous opportunity for Iamus to raise our profile in the important Asian market,” Mr. Kiernan said at the time.

“Iamus has already built a significant pipeline of customers in the region, including a trial beginning in Thailand later this year,” he added. “The opportunity to perform at the Future Food Asia Awards finals in front of an audience that can further expand access to potential customers and investors is a tremendous opportunity for us to further fulfill our mission.”

https://www.independent.ie/business/irish-agritech-firm-iamus-collapses-into-liquidation-42325539.html The Irish agritech company Iamus is liquidated

Fry Electronics Team

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