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
More than a makeover: ‘Queer Eye’ gives Wesley Hamilton an opportunity to thank the shooter who put him in a wheelchair
Wesley Hamilton’s clear vision for his potential impact took away the nerves while in front of cameras for Netflix’s “Queer Eye,” he said. “Me being able to get on a show with that type of exposure and spread my message to those within my community and outside of it… I’m just really excited for the…
Sickweather spent 8 years and $100K+ to obtain a patent; Is IP protection worth the cost?
Graham Dodge wanted to check a box for investors seeking security for his crowdsourced sickness forecasting startup Sickweather, he said. Obtaining a patent for the technology, however, proved a tougher task to chart. “We just wanted to protect ourselves to build value in the company,” said Dodge, CEO of Sickweather, as well as Garnish Health,…
RiskGenius announces Series B, partnerships with trio of world’s largest insurance carriers
Customers are pushing for the growth of RiskGenius, a top Kansas City startup providing software-based natural language processing tools for improved quality and accuracy in the insurance industry, said CEO Chris Cheatham. RiskGenius announced Monday an undisclosed Series B round led by Hudson Structured Capital Management Ltd., doing business as HSCM Bermuda. The financing round…
TRNDSTTRS reboots to link companies to new wave of Gen Z consumers
After a period of significant traction that included a merger, TRNDSTTRS Media has returned to Kansas City with a redefined vision and laser focus to better elevate Gen Z in the entrepreneurial and advertising landscape, explained Jake Bjorseth. “We really wanted to take that next step in growth and rather than compete at these lower…