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
Talent pipeline: Missouri Hyperloop could be a light at the end of the tech jobs tunnel
A high-speed Missouri Hyperloop route connecting Kansas City and St. Louis would power a state-spanning metro area with fluid access to tech jobs and talent, as well as a region pumped for economic growth, leaders familiar with the proposed project said. “You could easily live in St. Louis and work in Kansas City, and have…
Collaboration in the air: Cough detection sensors combine Sickweather, Mycroft tech
You can’t manage what you can’t measure, said Sickweather CEO Graham Dodge, describing the need for cough detection sensors that are slated to be rolled out in public places across Kansas City in 2019. Illness forecaster Sickweather is teaming up with fellow Kansas City startup Mycroft, a leader in artificial intelligence-infused tech, to develop the…
Pet innovators unleash market built on experiences, evolving relationships with dogs (Photos)
Meaningful relationships are no longer only between people, said Davide Rossi, discussing the rise of pet innovators and an emerging market built on experiences with four-legged family members. “They key thing is to recognize that the relationship between us and our pets has been changing,” said Rossi, co-founder of FitBark, a Kansas City-based pet tech…
Human capital: KC Mythbusters challenges Kansas City to rethink how it supports startups
A thriving startup ecosystem requires more stakeholders with skin in the game, said Eric Jorgenson. That means increasing direct participation — those actively and directly building or investing in startups that can potentially exit and see a talent and capital explosion that results in even newer startups — and de-emphasizing the need for and dependence…