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
Rewriting the playbook: ESHIP Summit eyes new model of economic development
Whether it be in art, technology or science, fledgling fields of study often face challenges of legitimacy when they enter the mainstream. Such is the case for the domain of ecosystem building, which struggles to find validity for and unity among those working to create vibrant communities in which entrepreneurs thrive, said Victor Hwang, vice…
Manual entrepreneurship, refuge: ‘Farming is just the vehicle,’ says BoysGrow founder
“What’s the word?” “Respect!” shouted the teenage farmhands at BoysGrow, a two-year program dedicated to teaching entrepreneurship to urban youth through agriculture and farming. The 10-acre BoysGrow farm outside Grandview plays host to 30 to 40 boys, ranging in age from 15 to 17. They work, eat and learn on the nonprofit farm three days…
OP greenlights Edison District walking community envisioned by former startup executive
Less than a month after announcing the launch of a second coworking location in Johnson County, the former startup executive behind Edison Spaces revealed news of a new project: a mixed-use district that repurposes a block previously defined by its church grounds. Centered around a five-story office building that features a chef-driven food hall, the Edison…
High-growth additions: PayIt, Main Street Data earn slots in $19M KCRise Fund portfolio
Investing in Kansas City startups ultimately brings greater interest from outside funding sources, said Darcy Howe, KCRise Fund founder and managing director. “We continue to be impressed by the increasing early stage deal flow in our region,” Howe said Tuesday in announcing the additions of Kansas City-based PayIt and Main Street Data to the fund’s…