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
J. Rieger spices up its strategy with KC culinary star; new tastes already hitting destination distillery’s menu
Deep fried and doubling down, the minds behind J. Rieger and Co. are distilling a new era that’s expected to make the local tourist destination one of Kansas City’s best places to work — and to grab one of its most legendary spicy chicken sandwiches. “If you didn’t already know, you quickly come in here and…
Why many ‘deskless’ workers think management is out of touch — the good news: tech can fill the gap
Editor’s note: The opinions expressed in this commentary are the author’s alone. Bob Butler, chief customer officer at SafetyCulture, which has its U.S. headquarters in Kansas City’s Crossroads Arts District, oversees operations for the global tech company and has led it through its greatest stages of growth. Click here to read more about SafetyCulture’s strategy…
Crush it, live hard and honor the 13 folds: Trio of KC gyms join intense challenge, salute sacrifice
Most Americans don’t know the true weight of these American flags — folded 13 times into a triangle and presented to a fallen service member or veteran’s next of kin, said Josie Buford. To better communicate the heavy burden they represent, she organized a physical challenge that’s uniting three Kansas City businesses. The 13 Folds…
Inclusivity succeeds when founders are held accountable, says winner of Chamber’s equity award
Fahteema Parrish doesn’t mind putting forward extra work to make sure her employees feel included, she shared, embracing an environment that supports individuals of all backgrounds. “Parrish & Sons Construction is an example of what intentional execution of equitable work within an organization actually looks like. Equality and inclusivity are key focal points as my…