Private equity giant joins agtech start-up

Former private equity giant, Tony Schultz has joined Adelaide agtech start-up Availer as chairman.

Schultz was former managing director of global investment firm Kholberg Kravis Roberts (KKR), a firm with close to $200 billion under management.

Schultz first began working with Availer a year ago through connections at the University of Adelaide’s Center for Nanoscale Biophotonics (CNBP).

He will work with founders Andrew Grant and Remo Carbone to develop Avalier and commercialise its mixture of physics, chemistry and biology expertise for the food, wine, and agriculture industries.

Schultz bring business and financial disciplines to the company and unrivalled contacts which should aid fund raising and commercialisation.

Availer has spun off two business, with the first MEQ Probe raising $500,000 for large scale tests of its hand held probe to measure the eating quality of meat.

MEQ Probe raised $500,000 in funding from Meat & Livestock Australia, meat processor Teys Australia, and the Midfield Group for large scale tests on sheep and cattle.

While meat quality is generally measured by the human eye, MEQ Probe uses nanoscale biophotonics to measure the marbling and tenderness of meat.

MEQ Probe is blockchain focussed, providing real-time information to meat processors which can be shared up and down the supply chain.

A second spin off, T-Provenance is working with mango producers Growcom and Manbullo Limited to to apply the technology technology to ensure food safety, quality and traceability through the supply chain.

Picture: Tony Schultz

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