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
Kansas brothers launch speedy trial for app that eases reentry for the wrongfully incarcerated
Podcast host-turned-innovator Dylan Carnahan is a man built for talking, he said, but there’s a time when words aren’t enough — when action is needed in the face of injustice. For Carnahan and his brother, that moment is now. “While media spreads awareness, software facilitates action,” said Carnahan, teasing the tech he’s developing alongside Alex…
Restaurant’s nostalgia is only part of it’s recipe: How Paul’s Drive In sizzled a community staple by ‘doing good first’
Editor’s note: The following story was written and first published by the Economic Development Corporation of Kansas City, Missouri (EDCKC). Click here to read the original story. In the heart of South Kansas City, Paul’s Drive In on Blue Ridge Blvd has been a cherished staple since the 1960s. Through ups and downs — including…
Meet six coalitions earning grants through Kauffman Foundation’s new ‘Collective Impact’ funding pathway
Systemic change happens when communities come together to drive transformation through collaboration, said Dr. DeAngela Burns-Wallace, announcing a half-dozen grants to high-capacity organizations with strategies to close economic mobility gaps in the Kansas City region. The “Collective Impact” planning grants of up to $500,000 are awarded to the winning coalitions are the first piece of…
‘Mama Mystery’ podcast builds true crime following from serial entrepreneur’s St. Joe home studio
ST. JOSEPH, Missouri — Kelly Evans is no stranger to a good mystery. But the real puzzle, the mother of four said, is how she mastered multitasking her true crime podcast, multiple businesses, and a radio show — all while hooking her audience with gripping storytelling and a dash of humor to balance out the…