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
Ford Fund Fellowship ranks KC alongside Atlanta, Chicago, Dallas; opening applications to local entrepreneurs
For the first time, Kansas City entrepreneurs have an opportunity to apply for the Watson Institute’s Ford Fund Fellowship, Milena Kirillova shared. The international venture and leadership development program — in its third year and supported by Ford Motor Company Fund — is a virtual, 16-week program designed to equip highly promising entrepreneurs and community…
Russell Stover chocolates — a KC tradition for 100 years — still bring holiday cheer
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. The iconic Kansas City-based company is still growing, and attributes its success to the warmth and comfort people feel when they…
O Christmas weed: Missouri dispensaries ring in first holiday season with legal marijuana
Editor’s note: This story was originally published by Missouri Business Alert, a member of the KC Media Collective, which also includes Startland News, KCUR 89.3, American Public Square, Kansas City PBS/Flatland, and The Kansas City Beacon. Click here to read the original story. Since Missouri began recreational-use cannabis sales in February, the industry has averaged $117.8 million…
KC tattoo culture inked on ‘Maker Nation Challenge,’ paying homage to legendary Grimm family
A new streaming TV series left its mark on a legendary Kansas City tattoo artist after the first of two challenge episodes featuring local entrepreneurs and creatives debuted — showcasing KC’s top tattoo talent tussling without drawing blood. “It was the best party I’ve been to all year. I had such a great experience,” said…