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
Yelp for DEI: New tech gives public a tool to share discrimination concerns in real-time, empowers companies to monitor, improve
Aishah Augusta-Parham’s tech platform has a goal rooted in impact: help business owners become more mindful of diversity, equity, inclusion efforts in their day-to-day operations — better ensuring their customers do business with companies and brands that embody shared values. “We are the Yelp of diversity, equity, and inclusion,” Augusta-Parham said, detailing the mission behind…
Dough-re-mi: Choir teacher’s pop-up pie hustle bakes her second verse from scratch
On any given weekday, Ann Lewis Marzette can be found in the classroom, teaching and training students in the Kearney Middle School choir. But when the clock strikes 3 p.m., she trades sheet music and scales for mixing bowls and measuring cups, embracing a side hustle that has her singing dough-re-mi — while customers serenade…
Return on investment: Why the co-founder of tech giant Dropbox just donated $500K to Blue Valley schools
Blue Valley schools, teachers, and students are expected to benefit greatly from a newly announced fund launched by the homegrown Johnson County tech entrepreneur who later co-founded the cloud storage giant Dropbox. Arash Ferdowsi, a 2004 graduate of Blue Valley Northwest High School, has put up $500,000 to launch the Arash Ferdowsi Fund, which benefits…
Ronawk accelerates its growth with exec hires, creation of expansive ‘Bio-Block Universe’
Synergy and chemistry are just as important as expertise when hiring strategic, high-level positions within a startup, said A.J. Mellott. “Ronawk has gone from this startup with its organized chaos, to having structured pathways that have emerged because we are better informed. That in itself has been really exciting and stimulating. We are more of…