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
Sustainable River Market development project booking tenants with virtual reality tours
Jonathan Arnold believes that choosing quality over quantity doesn’t have to break the bank. In fact, he said it makes great business sense. Arnold, principal at Arnold Development Group, is working to transform modern real estate development with a more sustainable future. “At its heart, sustainable development means doing more with less,” Arnold said.…
Listen: Leaders analyze KC’s entrepreneurial milestones, assess challenges
To say that Kansas City’s entrepreneurial community has matured in the last 15 years would be an understatement. Many leaders say that if you lived in the metro during the early 2000s and were to return now, you may not even recognize the place. Taking a moment to reflect on how far Kansas City has…
Rush, Reardon, Cobb and other entrepreneurial leaders analyze KC ecosystem growth
In 2012, Google Fiber’s arrival in Kansas City lit a fire under the backside of many community leaders and aspiring entrepreneurs. To say that the city has matured would be an understatement. Many leaders say that if you lived in Kansas City in the early 2000s and were to return now, you may not even…
Digital Sandbox expands to St. Joseph, partners with animal health incubator
Digital Sandbox KC will expand its efforts northwest to reach entrepreneurs in St. Joseph, Mo. The proof-of-concept program announced Wednesday that it has established a partnership with Innovation Stockyard, a St. Joseph-based animal science business incubator. Located inside the Christopher S. Kit Bond Incubator, Innovation Stockyard will offer grant recipients of Digital Sandbox office space…