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
Minddrive fuels youth development through hands-on STEM
Carlos Alonzo, a 15-year-old engineer at Minddrive, was always good at math. In the seventh grade, Alonzo’s teachers gave him the opportunity to skip ahead and take algebra. Although he enjoyed it and did well in the class, he ran into a problem: His school didn’t offer him an advanced class for eighth grade. That one-year…
Entrepreneur, startup advocate becomes new KC Chamber chair
A prominent Kansas City entrepreneur with some serious startup chops is now serving as the new chair of the Greater Kansas City Chamber of Commerce. Matt Condon, CEO of Bardavon Health Innovations and ARC Physical Therapy, was unanimously voted to serve at the helm of the chamber’s board of directors as its chairman. Condon, 42,…
Video: Healthy workplace culture begins with intention, communication
Editor’s note: This content was sponsored by Mid-Continent Public Library but independently produced by Startland News. Creating a healthy workplace culture must be done early and with intention, said Adrienne Haynes and Dwayne Lewis. To help startups develop a strategic human resource plan, Haynes, managing partner of SEED Law, and Dwayne Lewis, president of Lewis…
From Google to KC, Beth Ellyn McClendon’s advice to startups: Test everything
Don’t fall in love with an idea, Beth Ellyn McClendon said. “Test everything, especially your assumptions, and allow yourself to be persuaded by data,” said McClendon, a seed investor who formerly worked with Google, Android, YouTube, Cisco and Netscape. “Try to remember — tattoo it on your eyelids if you have to – anecdotes are not…