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
Haunted by retro influences: How skull-popping artwork time traveled into some of the nation’s biggest publications
Step into the retro world of John F. Malta, a West Bottoms-based artist whose creative journey is a blend of nostalgia, punk aesthetics, and a passion for eye-catching storytelling. His vibrant imagination took Malta from his early days doodling in the classroom to his recent collaborations with iconic publications like The New York Times and…
PorchFestKC set to transform these Midtown neighborhoods into a one-day, walk-up music festival
After a three-year hiatus, the original PorchFestKC — a music festival Kathryn Golden likens to stumbling on a neighborhood block party and being allowed to stay — is returning. And it’ll play out with a digital upgrade this year, said Golden. Launched in 2015, PorchFestKC — the city’s trend-setting, porch-packed community music celebration — will…
Black Drip plans OctoberFest showcase to give KC a taste of overlooked small businesses
Black Drip Coffee’s OctoberFest is an extension of Charon Thompson’s passion for helping his fellow entrepreneurs, he shared. The free event — now in its third year — aims to bring together coffee enthusiasts, music lovers, and foodies in a vibrant atmosphere that showcases local small business owners. Festivities are set for 2 p.m. to…
Startup ambassadors’ pitch to former Kansas Citians: Move your innovation, hustle Back2KC
Kansas City is having a moment, said Liam Reilly, and it’s an opportunity he and fellow Back2KC organizers couldn’t pass up — reviving the tech talent recruitment program amid Chiefs glory, downtown baseball district buzz, KC Streetcar expansion, riverfront revitalization, and a World Cup on the horizon. “We didn’t want to wait another year to…