Document: FarmLink raises additional $24.6M for ag tech
January 19, 2016 | Bobby Burch
Ag tech startups in Kansas City are plowing a promising 2016.
Kansas City-based FarmLink recently secured nearly $24.6 million in investment capital for its farming technology, according to a Securities and Exchange Commission filing.
The company offers a suite of tech services for farmers, including analytics platform TrueHarvest and machinery sharing platform MachineryLink Sharing.
TrueHarvest is a yield benchmark tool that helps farmers validate the impact of environmental variables to optimize production of crops. Through the MachineryLink platform, farmers can pay to use farm equipment when needed and also earn money for renting their equipment when it’s not in use. FarmLink says that lessees will have on-demand access to an inventory of equipment at varying costs, offering them enhanced flexibility, cash flow and revenue.
FarmLink has raised about $67.8 million in capital to date with OpenAir Equity Partners as its primary investor. Founded in 2010, the company has 80 employees and was co-founded by Ron LeMay, David Govert and David Forsee.
FarmLink’s most recent raise comes on the heels of another local ag tech success story. Farmobile announced in December that it raised $5.5 million in a Series A round from a large Amsterdam-based venture capital firm. Founded in 2013, Farmobile invented a device — or Passive Upload Connection (PUC) — that plugs into a tractor’s diagnostic port to collect a variety of farming data, such as info on planting, spraying, fertilization, harvest, fleet management and more.
2016 Startups to Watch
stats here
Related Posts on Startland News
‘This is the dream’: Starty Party turns up the volume on Kansas City tech, collaboration (Photos)
It isn’t a party without the people, said organizers of the Starty Party, gathering a crowd of startup veterans, early stage founders, investors and community leaders Wednesday for a one-night celebration of innovation — set against the backdrop of homegrown music and vibes. “This is amazing,” said Melissa Vincent, CEO of Pipeline Entrepreneurs, from the Starty…
KC preps for World Cup all-nighter, taste testing 23-hour drinking window for summer games
Entrepreneurs want to tap into all the potential business they can when an estimated 650,000 visitors descend on Kansas City for the World Cup, said Jim Ready, detailing plans for a temporary expansion of alcohol sales in KCMO to accommodate a global audience in June and July 2026. The move is more of a stress…
Kauffman narrows Uncommon Leader contenders to five finalists from community orgs
Kansas City leaders advancing toward the Kauffman Foundation’s high-profile impact award all demonstrate bold, creative, and inclusive leadership, said Dr. DeAngela Burns-Wallace, announcing five finalists for the inaugural honor. “Each of these leaders reminds us that one person can make a difference, and that compassion and dedication can change the lives of the people we…
KC-built app locks down vulnerable users’ data before they can share it with online scammers
He’s a startup founder today, but a protective brother first, said Danny Moran, describing how his sister with special needs motivated the launch of an app to protect vulnerable people engaging in a digital world too often filled with bad actors. “She’s been scammed online multiple times over the past 10 years, causing significant financial…