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
Survey: KC small businesses lack action on diversity, inclusion efforts
For many small business people and entrepreneurs, working outside the corporate world has its perks. Some like the nimble nature of a small team, as well as the death of the cubicle. Others appreciate the adrenaline that comes with taking risks. Aside from the benefits, a recent study suggests that smaller businesses in Kansas City…
Arredondo: Serendipity, passion collide to form the KC Startup Foundation
I’m not going to lie. It’s been a heckuva ride. Who could have imagined the Kansas City Startup Village’s serendipitous start in Fall 2012 would turn into all this? Not me. I vividly remember the nights Matthew Marcus and I were awake at 2 a.m., trying to keep up with the flood of emails from…
‘Third-tier’ startup city? KC growing beyond tech snapshot, leader says
Momentum matters for a startup city, Ryan Weber said. A recent report ranking Kansas City in the middle of the pack among Midwestern startup hubs doesn’t factor in the ongoing rapid growth of the city’s tech scene, Weber, KC Tech Council president, said. International tech publication TechCrunch listed Kansas City as No. 9 out of…
Gigabit City Summit shines national spotlight on KC Smart City
Showcasing Kansas City’s success is a key part of establishing the city as a thought leader in smart city development, Aaron Deacon said. Last week’s third annual Gigabit City Summit gathered more than 300 attendees — representing municipalities large and small, including city officials, economic development specialists, community builders and entrepreneurs — at Plexpod: Westport…