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
Matt Baysinger: Choir Bar revival is just one note in Swell Spark’s chorus of experiences planned for 2025
Developments from within Kansas City-based entertainment group Swell Spark are coming in a round this winter, said Matt Baysinger, starting with the crescendoing return of its Choir Bar group singalong experience after a five-year hiatus. “We want to create places where people can come together, relax, and try something a little different,” said Baysinger, whose…
Early success gave this young entrepreneur the credibility to bridge community, business gaps
At 21, Jonathan Pitallo is already an entrepreneur, real estate agent, and investor, he shared, but community engagement might be his biggest passion, he said. The Kansas City, Kansas, resident and Belton native founded Vive Promo and Print, is an agent at EXP Realty, and owns three properties, but he’s also an ambassador for the…
KC inventor rolls elevated litter box to market (and cats already are making the leap)
Amy Leiker can take criticism and feedback, the Lenexa-based LoftyLoo creator said, noting she couldn’t have survived a career in corporate marketing and health care without it. So when it comes to her elevated litter box invention, she’s quick to jump to its defense, but open to making the product even more user (and cat)…
I am Iron Man: Overland Park startup’s AI mouse brings voice-activated tech to your fingertips
In the Marvel Cinematic Universe, Tony Stark talks to an artificial intelligence program within his Iron Man suit to get immediate access to information — as if he’s having a conversation with AI. Although Stark is a fictional character imbued with vast powers via such tech, Jerry Hsu said, users don’t have to be a…