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
His portable lab can detect COVID in saliva within minutes; how this former Navy SEAL’s startup is expanding its target
Foothold Labs is on a mission to develop a next-generation, portable diagnostics system that can not only rapidly detect infectious diseases in saliva within five-to-eight minutes, but also indicate deadly contaminants in other common substances, shared Sean McIntosh. “To get equivalent results to our technology, someone would need to submit a sample to a professional…
Meet 5 new Digital Sandbox-funded startups poised as the next wave of KC innovation
A just-announced first-quarter cohort of startups are set to receive more than just $20,000 each in project funding from Digital Sandbox KC, said Jill Meyer, emphasizing the holistic support headed toward selected founders. “Early-stage funding is just one piece of the puzzle that helps our founders succeed and our startups accelerate toward commercialization and follow-on…
Calling citizen scientists: KC Digital Drive asking residents along Troost to help measure air pollution
Editor’s note: The following story was originally published by The Kansas City Beacon, a non-profit online news outlet focused on in-depth journalism in the public interest, and a fellow member of the KC Media Collective. Click here to read the original story or here to sign up for the twice-weekly Kansas City Beacon email newsletter. To learn about Kansas City air…
New lease on life: ‘Southern cookhouse’ bringing fried flavor to former sushi space in Crossroads
Editor’s note: The following story was originally published by CityScene KC, an online news source focused on Greater Downtown Kansas City. Click here to read the original story or here to sign up for the weekly CityScene KC email review. Brad Gilmore celebrated his 40th birthday last week with the gift he always wanted, the opportunity to run his…