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
Ulta, Venture Noire apply foundation with new beauty startup accelerator to ‘uplift minority founders’
Ulta Beauty’s premier MUSE Accelerator is nothing short of life changing, said Emma Willis. The national beauty retailer has partnered with Venture Noire to launch a 10-week, hybrid accelerator that supports Black, Indeginous and underrepresented founders of color as they prepare to break into and thrive in the beauty retail space, explained Willis, who serves…
Fund Me, KC: ‘Black Spartans’ returns with supernatural new chapter, summer crowdfunding push
Startland News is continuing its “Fund Me, KC” series to highlight area entrepreneurs’ efforts to accelerate their businesses or lend a helping hand to others. This is an opportunity for business owners and innovators — like Brandon Calloway’s third installment of the “Black Spartans” series — to share their crowdfunding stories and potentially gain backing…
Truth, not Troost: Ruby Jean’s founder wants East Side corridor renamed over slavery ties
Despite its widely-known street name, “Troost Avenue” does not accurately represent the small businesses, nonprofits and families along the increasingly dense Kansas City corridor, said Chris Goode. “So many beautiful efforts take place on Troost — from The Combine to Operation Breakthrough or Urban Cafe and Rockhurst University… We are all collectively pushing for community,…
New focus will offer jobs to formerly incarcerated people on the path to second chance entrepreneurship, says nonprofit
Kansas City-based Determination, Incorporated is refocusing its mission with a new social enterprise business that will directly place formerly incarcerated individuals into employment soon after they return home. Strong Start Make Readies is expected to provide jobs to people exiting incarceration as members of make ready crews at Kansas City area apartment complexes, single-family rental…