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
Startup Weekend rebrands to draw MO innovators to central startup hub; capitalizing on billion-dollar success stories
COLUMBIA, Missouri — In its second year, Startup Weekend is returning to Columbia but with a slightly upgraded look, said Brett Calhoun. Columbia Startup Weekend is now Missouri Startup Weekend with the intention to attract more individuals across the state, as well as reinforce Columbia, as an established startup hub. “We rebranded Startup Weekend so…
Destination espresso: Parisi Coffee spot pours from family, Union Station inspiration at new KCI
Travelers flying in and out of the Kansas City International Airport’s new terminal can experience the aroma and tastes of an Italian cafe — without leaving the States — when they stop by Parisi Coffee, said Joe Paris. “A core part of our branding has been taking the traditional Italian espresso and bringing it into…
This $250M bid to revive a Midtown historic landmark adds living spaces to Westport school campus
A newly announced development — the largest mixed-use project in Midtown — is expected to bring fresh activity to the vacant hallways of a historic Kansas City school, further anchoring community within a multi-building, street-spanning campus that already includes a Plexpod coworking and events venue. “Once home to students, athletes, and artists, the latest project…
New technology preserves speed, convenience KC air travelers have come to expect (in unexpected ways)
Editor’s note: This story was originally published by Kansas City PBS/Flatland, a member of the KC Media Collective, which also includes Startland News, KCUR 89.3, American Public Square, The Kansas City Beacon, and Missouri Business Alert. Click here to read the original story. You land at Kansas City International Airport a half hour early. Until now that…