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
First down for Healthy Hip Hop: Roy Scott teams with Champ for game-changing reboot
If it’s making money, don’t give up on it, said Roy Scott, rapper-turned-founder of Healthy Hip Hop. A new partnership with Champ System — a growing Kansas City sports apparel company with a popular hip hop-inspired mascot — will keep the performance- and tech-based startup in school gymnasiums and beyond as Scott’s company continues a…
SquareOffs public polling pilot with Oregon TV station could be a new niche
Opinions are constant, said Jeff Rohr, CEO of the Kansas City startup SquareOffs. As social media consumers look for new ways to voice a plethora of differing views, Rohr said he and his company have inked a major deal with News-Press and Gazette Co. (NPG), that could overhaul the public polling conducted by local news…
Limited edition: Champ System carries sports apparel from the field to Westport
When the choice came down to quick, easy money or grinding out his own brand, Maurice Woodard played the long game. His payoff comes Saturday with the grand opening of Champ System’s first brick-and-mortar ChampZone storefront in Westport. “You’re going to look different because there’s such a limited amount that we’ll release,” he said, noting…
Frank Keck: Benefits of developing a strong workplace culture
Editor’s note: The opinions expressed in this commentary about workplace culture are the author’s alone. Check out a previous column by Frank Keck here. “We know that engaged managers and employees are much more likely to remain in an organization, leading to fewer hires from outside the organization. This results in: Lower wage costs for…