A liquidator has been appointed to Gavico Ltd, an agri-tech company based in Gort, Co Galway, that specialised in  automated bovine monitoring using patented tools and software hosted on a purpose built cloud platform.

The venture was funded with €150,000 from taxpayers through Enterprise Ireland and €150,000 from The Agricultural Trust, an investment arm of the Irish Farmers Association. The founders invested €1,000  equity in the business

Gavico Ltd, incorporated in 2009, booked a loss of €285,000 in 2014, bringing accumulated losses to €362,000. Liabilities at end 2014 amounted to €92,000.

Director Albert Moylan commented: “I started Gavico with the intention of growing a world class company, manufacturing and support from Ireland. Strong advice was that we were crazy - China was the way to go. Myself and the other directors have all worked since we were 16 and we were never a burden on the State. Between us we have contributed over €2 million to the Exchequer over the last 20 years in other ventures/occupations.

“While I and my kind work till 3am trying to figure out a complex problem, pump every penny into research, sacrifice holidays, family time etc, we are happy in the fact that some day it will click and a lot of people will have jobs.”