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
Switchyards opening ‘work club’ in historic East Crossroads space: ‘It’s an absolute stunner’
Think dive bar with deep focus, said Brandon Hinman, describing the “neighborhood work club” concept that Atlanta-based Switchyards is bringing to the East Crossroads this spring. It’s a third-space workplace with no hot desks, standalone offices, or tiered memberships. “We actually have been more inspired by working out of coffee shops, libraries, boutique hotel lobbies,”…
A night for knock-outs: Pipeline gala adds glitz to the hard-fought battles of entrepreneurship (Photos)
Midwest means resilience, Melissa Vincent told a black-tie crowd of entrepreneurs gathered Friday evening in the Grand Hall at Union Station, ultimately sharing the stage with not one, but two Innovator of the Year honorees. “When they get knocked down, knocked out, they get back up and they stay in the ring,” continued Vincent, CEO…
Topeka startup hub launches diverse entrepreneur community (with fintech help on loan from KC’s Cyphr)
TOPEKA — An initiative aimed at boosting early to mid-stage entrepreneur development in the heart of Kansas launched Friday, said Michael Odupitan, noting the effort by Topeka-based Omni Circle to redefine the startup journey — and who’s allowed to join it — comes with a Kansas City assist. “Omni’s goal is to unite and strengthen…
How an east side community garden gives Ruby Jean’s namesake her storybook ending as juice brand goes national with Whole Foods
While market expansion for Ruby Jean’s harvests the big headlines, Chris Goode’s grassroots health initiatives are staying firmly planted in Kansas City’s east side, the juice brand’s founder said — announcing plans to launch a one-acre community garden this spring on Wabash Avenue. Budding out just blocks from where Goode grew up, the Ruby Jean’s…