CIBC Innovation Banking announced today that it has provided a $25 million USD financing facility to BinSentry, a Kitchener-Waterloo based technology company helping major agriculture enterprises optimize feed supply chains through AI-powered sensors and real-time monitoring. This capital will support the acceleration of BinSentry’s global expansion.

BinSentry combines AI-powered sensors and proprietary software to bring real-time visibility and automation to the animal feed supply chain. Its solar-powered, self-cleaning sensors monitor feed levels on farms with high accuracy, eliminating the need for manual inventory checks and helping prevent feed outages. Paired with a mobile dashboard, the technology allows feed mills and large agricultural businesses to better forecast demand, reduce waste, and improve profitability. BinSentry is used by animal agriculture companies across North America and Brazil.

“We’re excited to work with CIBC Innovation Banking as we continue to scale our business and serve an ever-growing list of large agricultural companies. The Innovation Banking team has demonstrated the ability to move quickly and remain flexible, which is tremendously valuable to us as one of the fastest growing agtech companies in the world,” said Ben Allen, CEO of BinSentry.

“We first met the BinSentry team in 2023 when they were in the early stages of scaling their platform. Over the last few years, we’ve seen the company evolve into a trusted technology partner for major agri-feed businesses across North America,” said Ab Makalo, Director, CIBC Innovation Banking. “We are excited to support BinSentry’s next phase of expansion and innovation as it continues transforming agricultural supply chains with real-time data and operational efficiency.”

About CIBC Innovation Banking

CIBC Innovation Banking has 25 years of specialized experience in growth-stage tech and life science companies across North America – a longer track record than most banks. CIBC Innovation Banking now has over $11 billion in funds managed including life sciences, health care, cleantech companies, investors, and entrepreneurs, and has assisted over 700 venture and private equity-backed businesses over the past six and a half years. The bank operates out of 14 global locations in San Francisco, Menlo Park, New York, Toronto, London, Austin, Boston, Chicago, Seattle, Vancouver, Montreal, Atlanta, Reston, and Durham. Connect with us today to start the conversation. Innovationbanking.cibc.com

About BinSentry

BinSentry is focused on providing solutions for the agriculture supply chain that help increase efficiency, reduce costs, and enhance profitability. As a leader in the use of artificial intelligence, BinSentry offers technology solutions that pair best-in-class optical sensors with user-friendly software to provide our customers with enhanced forecasting and decision-making capabilities. With our technology, feed mills and protein producers are enhancing feed ordering efficiency, raising healthier animals, improving employee safety, reducing their environmental footprint and – most significantly – uncovering new savings. Today, BinSentry is monitoring more than 40,000 bins in real time across North America. When it comes to the future of agricultural supply chain management, BinSentry is leading the way.

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