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
Operation Breakthrough expansion helps give every child a chance, Mayor Sly James says
It’s the beginning of a new chapter for Operation Breakthrough, said Kansas City Mayor Sly James. The mayor joined a packed crowd of supporters on an icy Thursday morning to share the Kansas City-based organization’s formal announcement of its $17 million capital campaign and expansion project. The effort — dubbed “Big Dreams, Bright Futures” —…
Blooom CEO switch better allows Costello to ‘evangelize’ high-profile KC startup
Following a “tremendous” year of growth, Blooom officials said Wednesday that upward trajectory requires a new leader at the helm. Co-founder Chris Costello, who has served for the past five years as chief executive officer, has stepped down and moved into a new role as chairman of Blooom’s board of directors. Matt Burgener, the company’s…
Starty Pants podcast host Sharice Davids making bid to unseat Rep. Kevin Yoder
Americans have an intergenerational responsibility to leave society and the country better than they found it, Sharice Davids said. The startup founders she interviews for her Starty Pants podcast understand that duty, she said. “When I think about entrepreneurship, I think of the risk taking and forward thinking of people who are trying to address…
HomeAway, Airbnb critics fearful of strangers in neighborhoods, apathetic landlords
Feb. 22 update: After a robust, 40-minute conversation Thursday, the full Kansas City Council voted 7-4 to pass a proposed ordinance that would prohibit short-term rentals in residential neighborhoods zoned as R-7.5 and R-10. Voting yes: council members Scott Wagner, Heather Hall, Dan Fowler, Lee Barnes, Jr., Alissia Canady, Scott Taylor and Kevin McManus. Voting…