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
ROI from PayIt’s recent $90M investment displays value of MTC’s early support, agency says
Marquee successes for two Show Me state companies — including a massive funding round for one rapidly growing Kansas City govtech scaleup — show the value of Missouri Technology Corporation’s early stage investment programs, said state and agency officials Thursday. A key example, they touted: PayIt, a SaaS platform that simplifies interactions between government agencies and…
Window wordplay: More than meets the eye for lettering artist with a hand in Cafe Cà Phê’s new look
Andrea Bosnak’s name and face might not immediately look familiar, but many Kansas Citians have definitely seen her signature work across the metro. The Spur & Serif lettering artist’s craft is featured at local hotspots like The Nelle, Café Corazón, Alma Mader Brewing, Classic Cookie, Rye, and now Cafe Cà Phê’s new brick and mortar…
Can’t-miss Saigons: KC’s Vietnamese coffee shop debuting long-awaited storefront, new drinks after slow drip
Two years after her Vietnamese coffee cart’s opening act — popping up in local businesses and parking lots across the city — Jackie Nguyen has found her audience, formed a community and will soon, finally, take center stage with her own standalone Cafe Cà Phê in Columbus Park. “When I moved to Kansas City, I…
Tesseract Ventures awarded $1.25M grant for R&D at home of the B-2 Stealth Bomber
One of Kansas City’s most innovative startups announced Thursday a direct-to-Phase II SBIR Grant with Whiteman Air Force Base — teaming the next-generation robotics leader with the U.S. military to launch smart technology with global impact, said John Boucard. “We are honored to work alongside some of the military’s most visionary minds, as we develop…