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
Hog Island to Parkville: Justus Drugstore owners docking new seafood concept in historic Parkville
The Parker Hollow builds on Chef Jonathan Justus’ mission to put small town Missouri on the menu PARKVILLE, Mo. — A bright yellow, nearly 150-year-old former Italian restaurant could become Kansas City’s go-to seafood destination with help from the world-renowned hometown culinary team behind Justus Drugstore and Black Dirt. Chef Jonathan Justus and his wife…
KC’s Enduralock secures $1.25M SpaceWERX contract to boost satellite docking tech
A Lenexa tech company has been selected by the innovation arm of the U.S. Space Force to address one of the most-pressing challenges facing military operations in the skies and beyond. Enduralock just announced its selection for a $1.25 million contract aimed at using the company’s new connector system, OneLink, to enable modular in-space servicing…
You can’t plan for this: ‘Mr K’ finalists wary of another ‘wrench into the face’ from Washington
An upended national political and economic climate has rippled down to Main Street, acknowledged leaders of this year’s Top 10 Small Businesses, bringing concerns about racism, DEI backlash, tariffs, and supply chain disruptions to Kansas City’s front door. “We’ve had people come into the shop and harass our employees, our customers,” explained Dulcinea Herrera —…
Hyde Park coffee space reopens with family vibe fitting historic neighborhood’s roots, owners say
A newly opened neighborhood coffee shop in Hyde Park hopes to bring a fresh, family-friendly vibe to Kansas City’s bustling coffee scene, its owners said. “We created 1888 Coffee to be something different — not just another café, but a welcoming hub for our community,” said Christine Kehoe, co-owner and operator of 1888 Coffee with…