Ag tech firm Farmobile reaps big multi-million dollar investment
December 18, 2015 | Bobby Burch
Agriculture company Farmoblie reaped substantial funding to accelerate development and distribution of its technology to collect data from farm machinery.
The Kansas City-based firm snagged a $5.5 million Series A round of equity investment led by Amsterdam-based Anterra Capital.
Founded in 2013, Farmoblie created a device — or Passive Upload Connection (PUC) — that plugs into a tractor’s diagnostic port to collect a variety of data useful to a farmer. The company, which to this point has been self-funded, created software to provide information for farmers’ decisions on planting, spraying, fertilization, harvest, fleet management and more.
A Farmobile PUC
“Data is one of the most valuable things a farmer harvests today,” Founder Jason Tatge said in a release. “Today’s announcement is a huge win for farmers around the world who want to put their data to work. Farmers ought to own and directly profit from the information they produce. It’s that simple.”
The company’s proprietary tools standardize geo-located agronomic and machine data, Farmobile is “a champion for farmer data rights, ownership and data portability” and focuses on “strengthening existing farmer relationships and building tools to reduce the frictions of data portability.”
Farmoblie’s technology seems to be a perfect fit for Anterra’s focus on financing the growth of firms creating sustainable food and agricultural offerings. The venture capital firm’s mission is in part to support “innovation in the way we produce, move and consume food.”
“We are investing in an experienced team with a superior product that is addressing a large market opportunity,” Anterra Capital partner Dudley Hawes said in a release. “We’ve been looking for technology that can demonstrably make farms more profitable, at scale. Farmobile has both the vision and the grit necessary to spark a revolution in the use of farm data.”
Tatge, a member of the Pipeline organization, has long been an advocate of empowering farmers through data sharing.
“No one should ever know more about a farm than the farmer,” Tatge said in the release. “Farmobile provides a clear alternative to Big Ag’s vertical data silos. We can’t wait to make a difference for thousands of new customers around the world.”
Check in for more on this story.
2015 Startups to Watch
stats here
Related Posts on Startland News
Kansas City to become gigabit testbed with first-in-U.S. infrastructure
Since the arrival of Google Fiber in 2012, Kansas City has been buzzing with excitement about gigabit internet and how it can benefit citizens. Gigabit-fast speeds are convenient for individuals and businesses alike, but one question has remained unanswered: how does a community — especially one trying to build a smart city — take advantage…
Readers dub Kansas City’s top spots for coffee meetings
“Let’s grab coffee.” It’s a universal phrase in the world of business that can lead to friendship, a deal or even a new company. And with coffee serving as a global binding agent for businesspeople, Startland News wanted to figure out where Kansas Citians are most likely to convene to catch up. We surveyed more…
Report: Kansas City is the 8th-worst metro for entrepreneur diversity
It’s a dreary day for Kansas City in terms of successfully supporting a diverse entrepreneurial community. The City of Fountains is far below the national average — and the majority of the most-populated metros — when it comes to minority business ownership, according to the United States Census Bureau. The bureau on Thursday unveiled the…
KCMO reveals seven innovation partners and inaugural demo day
Mayor Sly James on Tuesday announced seven partners for the 2016 Innovation Partnership Program and the program’s new accelerator-like approach. Now in its second year, the IPP provides select startups with city data and infrastructure at no cost and the opportunity to develop, test and demonstrate innovative solutions for the city. For the first time, the…