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
For the good of the hive: KC pediatrician builds buzz with award-winning urban bee farm effort
No one is more surprised by pediatrician Marion Pierson’s newfound career success as a beekeeper and advocate for urban apiaries, the Prairie Village doctor said. “I didn’t know this would happen,” Pierson said. “In fact, I’m scared of bugs. My husband asked me how I was going to start a bee farm. When I’m in…
Hometown startups want their due; sister-led QuickHire’s $1.4M round could be just the start
QuickHire’s potential for success is enhanced — not limited — by the young tech startup’s south-central Kansas geography, said Deborah Gladney, one half of a sister-led Wichita venture that recently announced its $1.4 million round boosted by a leading Kansas City fund. “Being from Wichita, we’ve come to know and appreciate everything this city has to…
Toilet bombs dropped less than two weeks ago; retailers can’t seem to keep them on the shelves
Bear Soap Co.’s latest bestseller might have begun as an accident, but the bath bombs for toilet bowls are making a splash as shoppers discover a cheeky new stocking stuffer that fizzes beyond the holiday season, said Matt Bramlette. “The toilet bombs can be a fun novelty gift; or they can be something that people…
Cotton candy calling: Why a South KC sweets shop’s signature treat is still hand-spun with an air of nostalgia
Each ding of the oven generates more buzz for this whimsy-frosted bake shop and creamery in South Kansas City. But it’s the soft, sticky sweet treat that fills small tubs and lines the store’s shelves — (hand) spinning the entrepreneurial dreams of its owner into a sugar-rush of a reality. “I really hit the jackpot,”…