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
KCSourceLink All-Star nominations open for ‘E Day at the K’ 15-year celebration
Who helped your business? Likely a future KCSourceLink All-Star. A celebration recognizing KCSourceLink’s 15 years as a top resource for entrepreneurs also will pay homage to the community builders who’ve made an impact through the organization’s Resource Partner Network. KCSourceLink is now taking nominations for 15 All-Star awards, which honor past and present partners. (Nominees…
KCultivator Q&A: Melissa Roberts talks tough (love), hot milk soup and mansplaining
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.Expertise requires experience, said Melissa Roberts. “I’ve had so many diverse roles and I’ve taken something from each of them,” the political…
Fund Me, KC: Wag-N-Bag converts game hauler into ready-to-play tailgating entertainment
Editor’s note: Startland News is continuing its “Fund Me, KC” feature to highlight area entrepreneurial efforts to accelerate businesses or projects. If you or your startup is running a crowdfunding campaign, let us know by contacting news@startlandnews.com. Today’s featured campaign is from Wag-N-Bag, a product created by brothers Brad and Tyler Hull. Your name and…
First look: Creative Studios concept expands Made in KC’s view of brands as partners
Warm sunlight bathes a future ceramics shop. A vintage Thomas Cusack Co. mural advertisement peeks from behind the plaster wall of an in-the-works photography space. Views from the second and third floors reveal a city skyline in creative transition. Amid the freshly hung drywall and still-curing, stained hardwood staircases, Tyler Enders steps quickly between rooms…