Global Prairie sues ag tech firm FarmLink for loan default
January 5, 2017 | Bobby Burch
Kansas City-based marketing firm Global Prairie has filed suit against a local ag tech firm for defaulting on a loan, according to a document that was filed Nov. 14 in Jackson County Court.
In the document, Global Prairie alleged that Kansas City-based FarmLink failed to fulfill payments on a promissory note in the amount of $568,390 plus interest. A promissory note is a financial tool used to put the terms of a loan in writing and contains a written promise to pay a stated sum on a specific date.
FarmLink — whose website is now inoperable — offers a suite of tech services for farmers, including its analytics platform TrueHarvest and machinery sharing platform MachineryLink Sharing.
Led by CEO Ron LeMay, the company has raised about $77 million in capital. LeMay is also the managing director of OpenAir Equity Partners, which is a top investor in FarmLink.
FarmLink in February announced that it would split its company into two businesses, FarmLink and MachineryLink Solutions. The court filing includes two other affiliate organizations: FarmLink LLC and FarmLink Analytics.
Anne St. Peter founded Global Prairie in 2008. The firm has since opened offices in Chicago, Cleveland, Denver, Fort Worth, Washington, D.C., Berlin and Brussels.
“This is a legal matter and we intend to limit any comments to our court filings,” said Greg Wolf, an attorney at Dentons that’s representing Global Prairie.
FarmLink has not yet responded to request for comment. The ag tech firm was selected by Startland News as one of Kansas City’s top 10 startups to watch in 2016.
Featured Business
2017 Startups to Watch
stats here
Related Posts on Startland News
Jazz musician opens sell-out BBQ spot; here’s how he’s spicing up KC’s chorus of flavors
Even with more than 90 barbecue restaurants across the metro, Gerald Dunn still figured there was room for his flavor profile on the Kansas City food scene. But before opening Dunn Deal BBQ in Grandview, he made a pilgrimage of sorts, stopping in to see legendary Ollie Gates. He reveres the local barbecue pioneer and…
For the loaf of the grain: Jonny Bakes bread, expands to keep community nourishment rising
Editor’s note: This story was originally published by Kansas City PBS/Flatland, a member of the Kansas City Media Collective, which also includes Startland News, KCUR 89.3, American Public Square, The Kansas City Beacon, and Missouri Business Alert. Click here to read the original story. Brookside bread baker works to reestablish the local grain shed Jon Szajnuk’s sourdough…
Thai Orchid opening in Northland: How this family business is getting out of its comfort zone with street food focus
A second location for a longtime Johnson County restaurant is expected to honor the origin story of the family business — building on its menu with a new emphasis on casual Thai street food items and small plates. Thai Orchid — a Mission, Kansas, restaurant that has been in the Rojjanasrirat family for 26 years…
mySidewalk teases Sidekick — a data assistant at the forefront of AI’s difficult-to-simple transformation
A new purpose-built community data and visualization tool from mySidewalk is designed to revolutionize decision making and empower those willing to embrace change when supplied with accessible and reliable data. The Kansas City-based govtech company this month announced the beta launch of Sidekick, an AI-powered data assistant meant to drive meaningful progress through insights gleaned…