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
CAPS Network expanding into rural Kansas schools with $951K education grant
Nearly $1 million in federal funds is expected to help CAPS Network expand its profession-based learning into rural school districts, focusing on the state of Kansas, Corey Mohn shared. The $951,000 grant from the U.S. Department of Education was announced earlier this week. “We are really excited about the impact this funding will help us…
Former sports executive teams with startup veteran to simplify visa process for foreign athletes
After 16 years handling immigration visas for the Kansas City Royals, Kyle Vena knew there must be a better way to streamline the daunting task of bringing athletes to the U.S. to play baseball — and keeping them, he shared. “When I left [the job] in the summer of 2022, I had this concept baked…
Cheese, chips, and cheers: Deez Nachos joins Parlor with its first fixed location
Dwight Tiller II is taking his family’s loaded nacho business from wheels to brick-and-mortar with its new spot — parked on the first floor of Parlor, Kansas City’s first modern food hall. Previously at the Crossroads-based Parlor as the former co-owner and head chef of KC Mac and Co., Tiller now is taking Deez Nachos…
Serial entrepreneur Matt Watson completes strategic buy-out of Full Scale
A prominent, twice-exited Kansas City entrepreneur has acquired full control of a company he co-founded five years ago — with plans to expand its leadership team and grow its employee count from 300 to 500 in 2025. Matt Watson announced Monday the completion of a strategic buyout of his co-founder, Matt DeCoursey, at Kansas City,…