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
Big food hall concept Parlor KC plans fall opening in Crossroads
Parlor KC, a collaborative food hall now under construction in the Crossroads Arts District, hopes to serve as a laboratory and incubation hub for area chefs and restaurateurs. Eyeing a fall opening in the east Crossroads, Parlor will offer chefs and restaurateurs a physical space to test dishes and concepts on diners that want variety…
Looking for nation’s lowest-cost small cities for startups? No. 9’s in the KC metro
A Kansas City suburb finds itself among the top 10 lowest-cost small cities for starting a business, according to a new nationwide report. Raytown, Missouri, lands at No. 9 on the ranking by personal finance website WalletHub — just below Cape Girardeau, Missouri, at No. 8. The rest of the top 10 is filled by…
Merit-based economy is an illusion ripe for AI disruption, talent coop founder says
Organizing Midwest talent to use artificial intelligence and machine learning to combat societal challenges like income inequality could be a powerful tool for a new generation of problem solvers, said Brian Curry. “I truly believe in the possibility of artificial intelligence for changing the way we look at jobs, income, capitalism, poverty, wealth disparity, disease…
Video: Check out 8 elevator pitches from this year’s Sprint Accelerator companies
With a cohort of companies ranging from artificial intelligence to organic ice cream sandwiches, Sprint Accelerator demonstrates its strength by creating an environment where founders and their teams can learn and develop alongside disparate forms of innovation, Doug Dresslaer said. “They’ve all started realizing they can work together — they’re all on the same side,”…