In this episode of Investment Climate Podcast, Alex Shandrovsky interviews Andrew Leech, the co-founder and CEO of Bovotica, an Australian startup focused on developing probiotic and prebiotic technologies to reduce methane emissions from cattle and improve productivity. Andrew shares his journey of closing a $3.4 million seed round, emphasizing the importance of warm introductions, the challenges of raising funds over a period of 14 months, and the personal sacrifices he made, including selling his house to commit full-time to the company. The podcast delves into topics such as valuation strategy using PitchBook, structuring university spinouts, and how team credibility can mitigate early-stage scientific risk.

Key takeaways from the episode include the founder's sacrifices, IP deal with the university, and the valuation approach used by Bovotica grounded in PitchBook data. Andrew's story offers a raw and insightful look at what it truly takes to fund and lead a deep-tech agriculture startup, shedding light on the challenges and strategies involved in securing funding for innovative agrifood tech companies like Bovotica.