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
After years searching for belonging, new VFA director discovers like minds within startup workforce fellowship
Craig Moore’s new role at Venture for America gives him even greater opportunities to boost representation for entrepreneurs and workers of color, the Black Excellence KC co-founder said. And VFA already has been doing the work, he added. “This is probably the most culturally aware group I have ever been a part of,” said Moore,…
She’s on a mission to boost the region’s tech talent; SnapIT’s new office in Wichita is the next step
Overland Park-based SnapIT Solutions has expanded its promise to deliver high-quality technology job training and educational services into Wichita, Neelima Parasker said, detailing a new partnership between the information technology firm and Wichita State University. “The IT side of the tech industry is now more in demand than ever. … I want to maximize Kansas’…
Kauffman awards Omni Circle $360K grant to help build minority small business hub
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. Editor’s…
MADE MOBB remix: How the KC streetwear kings’ Chiefs collab takes their grind to the gridiron
The postseason pairing of Kansas City’s premier streetwear brand and its most celebrated sports franchise is a dream come true — one years in the making for longtime fans and co-founders Vu Radley and Mark Launiu. “I’m glad it happened now, because after nine years of doing this, we are ready,” said Radley, describing MADE…