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
Her fund targets investments for women of color; why this VC is fighting a lawsuit that would curb equity-focused funding
The fight for equity — especially among Black and brown entrepreneurs — isn’t easily won, said Ayana Parsons, likening the setback-laden struggle to a boxing match that seemingly never ends. “There are many rounds,” Parsons recently told a Kansas City crowd gathered at Burns & McDonnell’s campus for an event to honor diverse legacies. Parsons’…
West Coast health tech company bringing dozens of jobs to new River Market headquarters in KC
A West Coast health tech startup’s relocation to Kansas City is expected to give the company direct access to key clients in the region — as well as creating 35 high-paying jobs, representing more than $3 million in annual payroll, regional officials announced Thursday. Orange County, California-based Hart, Inc. plans to transition its operations to new…
$100K in federal funds take stage at Kansas City theater forced to relocate because of COVID
Challenges from the COVID-19 pandemic continue to impact the arts, said Evie Craig, whose organization was forced to relocate because of an unexpected revenue drop caused by the global health crisis. A recently announced $100,000 in American Rescue Plan grant funding from the Entertainment Industry Grant Program administered by the State of Missouri Department of…
KC Restaurant Week breaks down silos between diners, Kansas City’s chef-driven food scene
One of Johnson County’s favorite destination culinary experiences is back on the menu for Kansas City Restaurant Week, a 10-day showcase of innovative tastes from kitchens across the metro. “It helps the food industry,” said Laura Favela, executive chef at Silo Modern Farmhouse, said of the highly-anticipated, post-holidays event series. “The second goal is to…