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
‘More than a thrift store’: Goodwill’s efforts to close digital divide sell an expanded mission — upskilling workers
Editor’s note: The following is the first in a series of stories focused on digital inclusion efforts in Kansas City, and is presented by Google Fiber. Ron Carr’s retirement made him restless, he shared. Wanting to be a valuable player in Kansas City’s economy once again, Carr enrolled in Goodwill’s Digital Skills Training program. “With…
Thrive Homes builds ‘life-changing’ independence for those struggling with mobility, aging in place
The impact of Thrive Homes is as simple as it is profound, said Christian Hill, whose startup taps into state and federal health funds to provide timely home modifications for residents with disabilities and accessibility issues. The Overland Park-based company makes it possible for people with certain health conditions — and those who are experiencing…
She started by getting Black art into Black spaces; now Natasha Ria El-Scari wants all of KC to know what they’ve been missing
A Renaissance woman, Natasha Ria El-Scari — gallerist, curator, poet, spoken word performer, educator, and life coach — has surrounded herself with art throughout her life. However, as the Kansas City native watched her hometown’s art scene flourish and thrive, she noticed not everyone was included. “As the city started to change, and the Crossroads…
Travel on tap: How a KC couple built a self-serve port for international wine lovers north of the river
Grab your wine passport, Russ Johnson said, because this self-serve wine bar allows customers to taste the world one sip at a time. And the technology that makes the business possible? Johnson — a software developer-turned-entrepreneur — built it himself. “Our brand is really focused on going on a vacation and having this world experience —…