The company makes a device that measures the level of grain or feed in a bin and is proving popular with major grain companies and feed mills.
It is a major improvement over the traditional method of banging the sides of bins with a rubber mallet.
The device hooks over the top edge of a bin and with a laser similar to those used in modern cars and measures feed and grain levels as they go down.
It is powered by a solar panel and sends signals electronically to home base.
Feed mills find it excellent in helping them schedule deliveries, ensuring that customers never run out.
The BinSaver has been developed by Nathan Hoel and Randall Schwartzentruber.
They say another major announcement is coming, likely in October.
Lewis and Clark AgriFoods, a venture capital company based in St. Louis, led the round to raise $10 million. It features BinSaver on its website.
