DIT makes technology for remote monitoring and water supplementation that can be used to monitor the supplements given to animals on a farm.

It invited people and organisations who were interested to register their interest last month. On Tuesday, it said in a statement it had started the campaign to fund the creation of solutions for food producers, using technology for more economical, sustainable and ethical food production to help feed the growing global population, which is expected to be 9.7 billion by 2050.

“To ensure we have enough food for our global population by 2050, we will need to increase food production globally by 60%. Farming in the future will be all about doing more with less, and at DIT we want to help lead this change," said Mark Peart, the founder and chief executive of DIT Technologies.

“Since COVID-19, more Australians have come to understand how important food security is and how important Australian farmers are to help us shore up food security, so by investing in DIT Technologies through our equity crowdfunding, Australians can be part of the growth of agtech and help us develop further innovative technology solutions for our food producers.”

Quentin Kennedy, chairman of DIT Technologies, said: “We’re overwhelmed by the positive response to our equity crowdfunding offer and want to thank everyone who has invested so far.

"Our goal is to raise up to $2 million and we still have just over three weeks to go, so we hope that Australians see the benefits of our technology, which is helping farmers farm smarter, and they can help us reach this target.”