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
The Prospect: ‘Cutthroat Kitchen’ winner on the move with chef-inspired workforce training
Everyday consumers can elevate Kansas City through the simple of act of eating a meal, said Chef Shanita McAfee-Bryant. Her in-the-works non-profit urban eatery concept — The Prospect — caters to a marketplace hungry for culinary-oriented workforce development training: students looking for a window into entrepreneurship through cooking, said Bryant, 2014 winner of Food Network’s…
BacklotCars parks another $25 million in Series B round led by NY-based investor
KC-fueled BacklotCars will further its mission to disrupt the wholesale automotive space, thanks to the close of a $25 million Series B funding round, the company announced Monday. Led by New York-based growth equity firm, Stripes, the round brings BacklotCars — which seeks to ease pain points for automotive wholesalers — to $38 million in…
ModRN Health aims to break down primary care with $35-a-month membership model
ModRN Health is injecting life into a decaying healthcare system through holistic approaches, said CaRessa Hutchinson. “[Patients practically need] a medical degree to be able to navigate the healthcare system. It’s ridiculous,” said Hutchinson, co-founder of the Overland Park-based healthcare platform dedicated to ‘filling in the gaps” for patients. “People are just so overwhelmed and…
TEDxYouth@KC invites teens into pressing, real-world conversations, event emcee says
Including teens in conversations about real world issues is the key element that will set Kansas City’s TEDxYouth@KC apart from other TED-branded conferences, said Kyra Colbert. “We’re going to be the future and if we don’t get involved now and we don’t get informed about what’s going on, how are we going to know what…