701x is excited to announce the acquisition of DigitalBeef, a leading B2B Software-as-a-Service (SaaS) company based in San Antonio, TX. DigitalBeef has established an excellent reputation within the livestock industry and among breed associations—a foundation 701x aims to build upon. Dr. Joseph Massey, CEO of DigitalBeef, expressed his enthusiasm, saying the acquisition “presents a tremendous opportunity to expand service capabilities and introduce new products to better serve our customers."
DigitalBeef's primary business is a registry platform, which serves cattle and sheep associations and their members. The software allows users to report individual animals' performance data to their respective association allowing them to obtain registration certificates and performance rankings within the breed.
On the other hand, 701x provides cattle management software that enables ranchers to efficiently record animal data in real time, which is later sent to DigitalBeef for registration. In addition, 701x manufactures smart ear tags and other IoT-enabled devices that integrate with its software to facilitate precision ranching.
"701x brings cutting-edge technology to the industry, providing us with enhanced capabilities and services." -Dr. Joseph Massey, DigitalBeef CEO
Dr. Massey highlighted the strategic fit of the two companies: "701x brings cutting-edge technology to the industry, providing us with enhanced capabilities and services." One of 701x's standout features is its mobile app, which works offline, allowing ranchers to update data even when working in remote areas with poor cellular service. Once the device regains service, the data automatically uploads, ensuring the entire operation stays up to date. The 701x and DigitalBeef software platforms will soon be seamlessly integrated, providing added functionality to DigitalBeef’s existing user base.
701x's smart devices solve many of the beef industry's ongoing challenges. Their xTpro is a GPS-enabled ear tag featuring cellular and Bluetooth communication, with satellite functionality expected to launch in early 2025. Currently, the xTpro has seen large adoption on bulls due to its out-of-fence alerts, health alerts, and bull mounting detection capabilities. Its use is growing among female cows as well, thanks to the estrus (heat) detection feature introduced last month. Additionally, calving (birthing) detection will be added to the xTpro’s feature set by the end of the year.
"The members of the associations DigitalBeef serves are seedstock producers who raise high-end registered cattle. They’ve been searching for tools like the xTpro and our other products for years." - Kevin Biffert, 701x President & CEO
Kevin Biffert, CEO of 701x, noted the strategic value of the acquisition: "The members of the associations DigitalBeef serves are seedstock producers who raise high-end registered cattle. They’ve been searching for tools like the xTpro and our other products for years. These producers also record the most detailed data, making the efficiency our cattle management software offers invaluable." Dr. Massey added, "The xTpro will introduce a new set of data points and insights into individual animals, which will soon be integrated into DigitalBeef's programs alongside new predictive tools."
Dr. Massey will transition into the role of Chief Scientific Officer at 701x, and the rest of the DigitalBeef team will remain in their current roles, ensuring a smooth transition. Dr. Massey also commented on the future of the industry, saying, "The next decade promises to be an exciting time for cattle producers, with innovative advancements on the horizon."
701x would like to give a special thanks to the North Dakota Development Fund as well as the local investment community in ND for believing in us and making this deal happen. 701x raised a seed round of funding in early 2023 and is currently midway through raising their Series A round. They would also like to thank ND LIFT, APUC, and InnovateND for the funding they have provided 701x throughout the years as well. 701x strongly encourages any entrepreneurs to consider ND for their business due to the funding opportunities and economic landscape the state provides.
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