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
‘Question everything,’ TEDxKC 2016 captured in photos
For more coverage on TEDxKC, check out this piece on 5 inspirational musings for entrepreneurs.
LaunchKC announces 20 finalists for $50K grants
After trying deliberations that went into Monday evening, the Kansas City-based grants competition LaunchKC has revealed its 20 finalists that will vie for a piece of the $500,000 pie. The competition — which will distribute $500,000 via 10, $50,000 non-dilutive grants — drew more than 400 tech startup applicants for the second year in a…
TEDxKC offers 5 inspirational musings for entrepreneurs
From poets and inventors to musicians and activists, the eighth-annual TEDxKC on Friday challenged attendees to “question everything.” And in that questioning, 13 presenters offered an assortment of inspiring thoughts from which entrepreneurs can learn. Here are five takeaways from the event, which was hosted at the Kauffman Center of Performing Arts and presented by…
The legend of the salvaged Westport Commons mural continues
If reader reaction is any indication, Startland News may want to consider a pivot to becoming a historical art publication. Since publishing a story on Tuesday regarding an exhumed mural at Plexpod Westport Commons, thousands of people around the area and nation have taken an interest in the piece. Dozens of Facebook comments have relayed their…