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
Vytelle doubles its bovine IVF lab capacity; outpacing goals since its $13.2M round
A five-year plan initiated by Vytelle’s Series A funding round called for the agtech startup to double its laboratory capacity to produce bovine embryos through in vitro fertilization. Just a year later, the Lenexa-headquarted company already has opened its fifth new lab. Vytelle’s latest facility — in Franklin, Tennessee — is accessible to beef and dairy…
Feds award KCK college $745K+ to boost 30 low-income STEM students working toward biology degrees
A National Science Foundation grant is expected to support the retention and graduation of high-achieving, low-income STEM students, said U.S. Rep. Sharice Davids, announcing the award. Kansas City Kansas Community College (KCKCC) is set to receive $745,635 to fund scholarships — over the next five years — for 30 full-time students who are pursuing a…
How this homegrown leader is steering a $2B Australian startup’s KC HQ (and 100+ workers) deeper into the Americas
Kylie Uvodich quickly wondered if she’d made a mistake after joining SafetyCulture in 2017, she said. “When I first came over [to SafetyCulture], I thought, ‘What the hell am I getting myself into? I’ll sit here and learn some things for a couple months, and then I’ll get on to my next thing,’” Uvodich recalled.…
CoMo Startup Weekend winner closes $750K seed round; EquipmentShare co-founder joins executive team
Startland News’ Startup Road Trip series explores innovative and uncommon ideas finding success in rural America and Midwestern startup hubs outside the Kansas City metro. This series is possible thanks to the Ewing Marion Kauffman Foundation, which leads a collaborative, nationwide effort to identify and remove large and small barriers to new business creation. COLUMBIA,…