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
Biz class to barista: UMKC student’s mobile matcha cart hand-whisks crowds of thirsty fans
Editor’s note: The following story was published by KCUR, Kansas City’s NPR member station, and a fellow member of the KC Media Collective. Click here to read the original story or here to sign up for KCUR’s email newsletter. HerCafe, a matcha business founded by a University of Missouri-Kansas City student and her friend, has found success with its weekend…
Tim Tebow to entrepreneurs: Embrace the heavy lift if you want to reap life’s real profits
COLUMBIA, Mo. — Business should be about driving impact, not just scoring another win, said former NFL quarterback Tim Tebow — challenging Midwest entrepreneurs, community builders, and investors to consider outcomes that boost others, not just one’s personal pocketbook. “Probably everybody in this room has been super blessed with skill sets, resources, relationships, opportunities, companies,…
Here’s how a Prospect renewal project invests in both those who built KC and the city’s future
Economic development initiatives are measured not just in buildings, but in opportunity, said Melissa Patterson Hazley, lauding the use of the Central City Economic Development (CCED) Sales Tax Program to transform underutilized parcels in Kansas City into modern, energy-efficient housing that support long-term neighborhood vitality. “Projects like Prospect Summit represent the intentional work of making…
Fusing talent, passion: Serial founder trades his Screamin Cow for offshore talent hiring platform
Brad Starnes’ itch to lean into a newly realized pain point at the end of 2024 led to the acquisition of his Screamin Cow Marketing Group and the launch of another passion project, the former UMKC Student Entrepreneur of the Year shared. With the move — which sees Screamin Cow transitioned to Builders of Authority…