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
Frustrated by the fit, this traveler-turned-swimwear founder crafted 10 pairs himself; now his trunk show is going global
Opening a popup swimwear store in one of Atlanta’s most upscale malls represented a surge of momentum for Tristan Davis’ high-end brand that began not on a beach or a runway, but in Kansas City’s tight-knit startup community. “We’ve gone from an idea in a handmade bathing suit to a high fashion mall in less…
Harvesting opportunity: How a KC chicken chain turned a strip of parking lot into its latest ingredient
Months before snow blanketed Kansas City this week, Todd Johnson transformed a weed-filled, unusable portion of parking lot at his Lenexa restaurant into a flourishing garden that serves up fresh produce used in kitchens at all three of his Strips Chicken and Brewing locations in Johnson County. In its first season, Moonglow Gardens — as…
AI evolved faster than rules to protect people; this founder wants to code ethics back into the tech
Amber Stewart sees what many overlook in artificial intelligence, she said: the human cost of unregulated technology that can manifest as anything from sexist and racist outcomes to outright theft from willing and unwilling members of the public. “I’m not afraid of the tech,” said Stewart, founder and CEO of GuardianSync. “I’m afraid of unfettered…
A romantic hideaway (for you and a book): Entrepreneur’s heart for reading opens store on Independence Square
America Fontenot didn’t plan to launch her new Independence bookstore on national Small Business Saturday — the busiest shopping weekend of the year — but renovation delays just kept pushing back the opening, she said. So while many small shops were offering Black Friday-adjacent deals to get customers in the front door, Fontenot’s The Littlest…