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
Entrepreneurs worry World Cup could leave small biz, communities on the losing team
FIFA’s summer games set to bring opportunity to Kansas City, but some fear a ripple effect that lasts far longer than the 2026 matches With each month that passes before Kansas City hosts games for the FIFA World Cup in June 2026, local small business owners are facing anxiety about the uncertain plays ahead —…
Real-life KC startup bros create virtual basement gaming vibes, turning once-isolated streaming into a familiar party
In today’s connected world, gaming with or against relative strangers — or “friends” a player only knows from a specific game or platform — is the norm. A Kansas City startup’s new streaming venture aims to recreate old school gaming-with-friends-in-the-basement vibe in the digital world. Available on Steam for free when its beta goes live…
KC’s college education gap is widening based on income; new effort targets barriers to dreams after high school
A just-announced initiative — backed by the Bloch Family Foundation — has a straightforward goal: put more college advisors in Kansas City Public Schools and develop a strategic plan to boost access to quality, affordable college education or career training after high school. The newly launched Kansas City College and Career Attainment Network (KCCAN) already…
Growth-fueled HR tech startup moving to Crossroads after announcing $9M defense contract
Jumping from a handful of employees to 15 over the past year has come with growing pains for Piccadilly Software Group, said co-founder Abe Dick, but the flip-side comes in the form of enhanced community presence, new office space, and greater opportunity for its signature product. The company this month announced its move to a…