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
Passion project set in stone: 2000 Vine Street’s ‘cultural inheritance’ is 150 years in the making
Editor’s note: This story is the first in a series from Startland News highlighting entrepreneurs, businesses, and creators leading revitalization and redevelopment efforts in and around the historic 18th and Vine Jazz District. Click here to read additional stories from this series. The revitalization of the two oldest public works buildings in Kansas City, abandoned…
KC, Wichita investors, new backers boost Novel Capital’s efforts to break down funding barriers
Additional funders have joined a seed extension round to help Novel Capital accelerate growth for B2B predictable revenue companies, the company announced Monday, noting further investment by KCRise Fund and Wichita-based Tenzing Capital. Novel Capital’s latest funding round was led by Ulu Ventures, with additional participation from MatterScale and Edovate Capital, as well as its…
Sister pitmasters of Jones Bar-B-Q, made famous by Queer Eye, are selling their restaurant
Editor’s note: The following story was originally published by KCUR, Kansas City’s NPR member station, and a fellow member of the KC Media Collective. Click here to read the original story or here to sign up for KCUR’s email newsletter. After Thursday’s lunch rush, Mary “Shorty” Jones and her sister, Deborah “Little” Jones stood outside of their beloved Jones Bar-B-Q, waving at the…
Service took Yinka Faleti from Kuwait to Ferguson; now this VC’s pushing social change from a $25M fund
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. ST.…