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
Social entrepreneur’s Harris Park brings green and golf to blighted urban neighborhood
A clean green park with an award-winning golf course not only raises the profile of the Ivanhoe neighborhood at 40th and Wayne — it changes the mindset of those who live there, said Chris Harris. The space — completed in August— was chosen by the American Society of Golf Course Architects for its Design Excellence…
KCultivator Q&A: April Boyd-Noronha opens up on access to technology, authentic change
Editor’s note: KCultivators is a lighthearted profile series to highlight people who are meaningfully enriching Kansas City’s entrepreneurial ecosystem. The KCultivator Series is sponsored by WeWork Corrigan Station, a modern twist on Kansas City office space.Awakening education and business potential while in your pajamas is an unexpected side effect of rapid technological advancement, said April…
KC Pinoy parks restaurant in West Bottoms, plans fiesta of Filipino flavors
KC Pinoy’s new spot on Genessee Street in the West Bottoms was an opportunity that just fell into Chrissy Nucum’s lap, said the owner of the Filipino food truck turned brick-and-mortar restaurant. “I wanted something where there’s a sense of community within whatever area we choose,” said Nucum. “When the West Bottoms Kitchen decided to…
Curb appeal attracts investors to $850K round for real estate tech firm RealQuantum
A year of steady growth will help Kansas City real estate tech firm RealQuantum end 2018 with the close of its first round of seed funding — securing $850,000 in investments, revealed Mark Davis. “We closed a couple of times actually — people just kept showing up at the last minute wanting in,” Davis, RealQuantum’s…