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
Reconciliation Services hopes to heal trauma in the heart of stigmatized Troost corridor
Commanded by Scripture, David Altschul journeyed into parts unknown, said his successor, Father Justin Mathews. In the mid-1980s, a philanthropic pull tugged at the heart of Altschul — a white, insurance salesman from Johnson County — and eventually led him into the distressed, history-rich neighborhoods that lined Troost Avenue on the east side of…
Thelma’s Kitchen cooks up pay-what-you-can cafe concept to preserve community
Twenty people once filled the kitchen of Thelma Gardner’s apartment in search of their next meal. Their hunger for food fueled her hunger for humanity, recounted Father Justin Mathews as he sat sipping coffee in the newly opened Thelma’s Kitchen. The pay-what-you-can restaurant — located inside of the Reconciliation Services building at 3101 Troost Ave.…
Operation Breakthrough bridge over Troost symbolizes ‘real community’ at an intersection
With reflection in his voice, Alvin Brooks paused. “The city has to be a partner,” the Civil Rights activist and veteran Kansas City Police Commissioner said as he spoke of the redevelopment of Troost Avenue — the well known racial dividing line, that has long isolated the east side of the Kansas City metro from the…
Troostapalooza aims to shed the old skin of city’s racial dividing line, says Kemet Coleman
Troostapalooza will build community while constructively addressing the elephant in the room, said Kemet Coleman, organizer of the newly developed street festival. “We wanted to create a home away from home on Troost that is inclusive and sensitive to the historic and existing nuances,” he said. “Not the violent, divisive one that is portrayed by…