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
PBS docuseries puts KC creator at the intersection food and ‘transformational travel’
Food travel is about more than getting the most exotic or expensive social media-worthy photo of a meal to share for superficial clout, said Jim Kane, emphasizing the transformation power of connection when someone truly allows themselves to use food as a lens for understanding culture. “Before the pandemic, there were a lot of checklists…
A misstep ended their ‘Squid Game’ run together; the business of their friendship keeps moving
While not everything on reality TV is 100 percent … well, real, the bond between “Squid Game: The Challenge” competitors Stephen Lomas and Chase Higgins is anything but scripted, the Kansas City duo said. Longtime friends and business partners — the two previously co-founded Let’s Get Moving, a social media savvy moving company that gained…
How Kauffman Scholars’ 20-year run reflected the value of representation for Black, Brown students
Editor’s note: The Ewing Marion Kauffman Foundation is a financial supporter of Startland News. The legacy of Kauffman Scholars — an initiative of the Ewing Marion Kauffman Foundation that sunset earlier in 2023 after 20 years — can be seen in the decades of students impacted and the passion fueling the effort from within, according to a…
This hands-on video production workshop at DeLaSalle will put careers in focus
A new partnership between a Kansas City video production company and a charter school serving teens along the Troost corridor is expected to give DeLaSalle High School students a stronger entry point into an emerging industry, said Jasmine Nastasi. “It’s a way to help with recruiting, to streamline the process, and to have an official…