Livestock management platform Herdwatch has secured a multi-million-euro investment.

The capital injection was backed by Renatus Capital Partners and will be used as part of a planned expansion.

The exact size of the funding has not been disclosed, but Renatus typically invests €5 to €10m.

"We are extremely proud of our achievements to date, but there is so much more we can do to help farmers across the world," Fabien Peyaud, CEO and co-founder of Herdwatch.

"We have the ambition, fantastic people on the team, and now the balance sheet to match. This is the start of an exciting new chapter in the Herdwatch story."

The company's technology is used on 18,000 farms here and in the UK.

It digitises livestock farming by cutting out paperwork and helping farmers to make better decisions based on data.

Herdwatch plans to grow its workforce by a quarter to 80 over the coming two years.

It recently launched a new platform for sheep farmers called Flockwatch which is to roll out in the US, Canada, New Zealand and Australia soon.

The company claims that on average farmers save three hours of paperwork a week by using the app.

Based in Tipperary, Herdwatch was set up in 2011 by FRS Network and Fabien Peyaud, both of whom will remain shareholders following the fundraise.

Its first version was released in 2015 and it entered the UK market in 2016.

Reantus Capital Partners' investment portfolio include Boojum, Simtech Aviation, Rennicks and Tipperary Crystal.