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
River Watch Beef envisions pure range of ‘farm-to-fork’ products delivered to your door
The beef industry is broken, said Chris Kovac, sitting just an ironic stone’s throw away from the historic Kansas City Stockyards. “We should all educate ourselves on what we’re eating and who we’re buying our food from,” the founder of River Watch Beef said, impassioned as he shared his concern for the health of consumers.…
‘Follow the Leader’: Brothers bootstrapping horror movie set in abandoned KC-area mall
Not enough films are being shot in Kansas City, said brothers Ben and Jacob Burghart. “The bigger problem is not enough feature films are utilizing Kansas City’s vast talent pool,” said Jacob. “[Kansas City is trying to] shoot more now, but we want to be a part of kind of kicking into another gear.”…
#MomFund: Unruh Furniture builds more than tables inside a century-old church off KC’s Main Street
A table can mean stability, said Sam Unruh, founder of Unruh Furniture. It’s four legs help provide the emotional support for a home. “Growing up, my family ate together every night at the table. We all had our spots and still do to this day,” said Unruh, whose custom, made-to-order furniture business operates out of…
Second Edison Spaces flexible office site designed for uncertainty of startup life
Growing a startup is risky enough, said Matt Druten, co-founder of Edison Spaces — entrepreneurs shouldn’t have to worry about finding and maintaining an office. “Changes are unexpected. Nobody really knows where their company is going to be in six months,” he said. “Is my startup going to double in size? Is it going to…