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
Nick the Greek reset: Reinvigorated owner reopening locations, launching new spot after facing his own test
When Nick the Greek abruptly closed two area locations six months ago, fans on and off social media were distraught, fearing they were closed for good. Now there’s a surprising update: two reopenings, one new opening. All this month. Area franchisee Arthur Gilbreath previously placed “closed for renovation” signs at his Nick the Greek restaurants…
Kauffman earmarks $32M in grants to boost entrepreneurship, workforce, education efforts
Just-announced Kauffman Foundation funding for a cohort of 27 organizations — each focused on advancing economic mobility in Kansas City — reflects the grantees’ “relentless commitment to innovation and equity,” said Allison Greenwood Bajracharya. “Rather than being defined by the challenges our communities face, they’re defining what’s possible — building on the brilliance and resilience…
Brothers behind Session Taco launching ‘destination Mexican spot’ in upscale JoCo dining district
Just weeks after closing Session Taco in Leawood’s Park Place, the owners expect to revamp the prominent spot for a new destination Mexican restaurant. Lapez Mod Mex is scheduled to open this summer at 11563 Ash St. Brothers Adam and Jason Tilford first opened Mission Taco Joint in the space in June 2023. It rebranded…
PMI Rate Pro exits: KC fintech calls acquisition the ‘natural next step’ for its mortgage tech solution
MIAMI — A strategic acquisition between a software leader and a Kansas City fintech startup brings together two innovators in mortgage tech to deliver the industry’s most comprehensive platform, said Nomi Smith, co-founder of PMI Rate Pro. LoanPASS on Thursday announced its purchase of PMI Rate Pro, an Overland Park-based fintech specializing in API-driven private…