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
Byrd: How the Silicon Prairie can avoid Silicon Valley’s diversity issues
When Google and Intel first released their employment statistics in 2014, the topic of diversity was nowhere as elevated as it is today in corporate circles. Silicon Valley and its many companies from large tech giants down to startups are under the diversity and inclusion microscope. Why all of the emphasis on diversity? Demographically our…
State of Entrepreneurship to tackle national ‘startup deficit’
In her second address to the nation, Kauffman Foundation CEO Wendy Guillies on Wednesday will present the seventh-annual “State of Entrepreneurship Address.” Guillies will travel to the National Press Club in Washington D.C. to address the nation’s long-term decline in new business creation, which has created a so-called “startup deficit.” Guillies, who was appointed as…
LaunchCode kicks off Kansas City office with $250K boost
Fresh off its expansion to Kansas City, LaunchCode will tap additional capital from the Missouri Technology Corporation to boost its operations focused on tech workforce development. With a visit Thursday from Missouri Gov. Jay Nixon at the Sprint Accelerator, the MTC announced that it would inject an additional $250,000 into LaunchCode, which expanded from St.…
Innovation officer confident KC can nab $50M transportation grant
The City of Fountains has a solid shot at landing a $50 million award that could transform its transportation system. At least that’s what Kansas City’s new chief innovation officer Bob Bennett believes. Bennett, who started his tenure as Kansas City’s second innovation officer in January, said that the city’s openness to new technology situates…