Vineyard firm gets cash injection

Christchurch's Indigo Systems has attracted a second investment from a group of Canterbury angel investors.

Powerhouse Ventures, has invested $200,000 in the firm, which builds wireless environmental monitoring systems used in vineyards and dairy farms.

The money included $100,000 from the Government's New Zealand Venture Investment Fund seed co- investment programme.

Indigo director David Rankin said the additional capital would be used to boost the company's New Zealand market and to investigate an Australian expansion, which he hoped would happen in the next year.

The money was provided as a loan, which could be converted to shares.

Powerhouse was set up about two years ago to provide Canterbury start- up companies with cash and business expertise. About 30 people, including New Zealand Manufacturers and Exporters Association chief executive John Walley, Talbot Plastics managing director Steve Wilson and investor Phil Holliday, are involved in the venture.

Powerhouse first invested in Indigo in 2007 and Holliday took a seat on its board.

Indigo released its flagship product last year and was looking to aggressively market to vineyards this season.

The system sends vineyards real time information on temperature, allowing workers to monitor frost and take action if needed.

Rankin said one Marlborough vineyard had three people monitoring 400 hectares of vines but before using Indigo it relied on seven people to monitor 200ha.

- © Fairfax NZ News