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
Rack Performance beefs up with seed investment from former Perceptive Software execs
Lenexa-based Rack Performance has raised a seed investment round that will fuel the exercise tech startup’s sales and development. Rack Performance has raised $300,000 from perceptiveEQUITY, a new early-stage investment firm that’s managed by three former executives at Lenexa-based Perceptive Software, which was purchased by Lexmark International for $280 million in 2010. Lexmark recently sold…
Six takeaways from the digital transformation at Hallmark
It’s not just tech startups that innovate and disrupt. One of the Kansas City area’s largest firms, Hallmark Cards, recently launched a digital transformation. In 2015, the greeting card giant funneled thousands of products that were popular on the shelves to online sales. The firm also updated its social media practices to attract younger customers.…
Report: Kansas City’s tech workforce is growing faster than most big cities
Techies around the nation have flocked to Kansas City at a rate faster than many major cities, including New York City, Chicago, San Diego and others according to a recent report. CBRE’s annual Tech Talent Report found that between 2011 and 2016 Kansas City’s tech workforce grew 39 percent, adding about 15,000 new tech staffers…
How the Kansas City Chiefs became the No. 1 NFL team in social engagement
Most Kansas City Chiefs fans are likely aware that they hold the Guinness World Record for the “loudest crowd roar at a sports stadium.” But what fans may not know is how that same enthusiasm and energy translates to the Kansas City Chiefs’ social media engagement. Using a variety of platforms, the team’s social media…