Ag tech startup Farmobile raises $18M round for global expansion
October 27, 2017 | Bobby Burch
Ag tech company Farmobile has reaped a substantial Series B funding round that positions the firm to rapidly accelerate across the world.
Jason Tatge
The Overland Park-based company announced Friday that it raised $18.1 million to expand its data platform to help farmers mitigate risks and generate a revenue from the data they own.
The round includes Anterra Capital, AmTrust Agricultural Insurance Services and other undisclosed investors. The new funding pushes the firm’s total capital raised to more than $28 million.
The platform aims to empower farmers to make better choices and to grow their operations, CEO Jason Tatge said.
“Our customers continue to tell us Farmobile’s data as a service platform is the best way to collect, organize, share and sell their agronomic and machine data,” Tatge said in a release. “Our mission is to make sure farmers, worldwide, have access to a cost effective strategy to collect, protect and own their digital assets with a clear path to ROI opportunities.”
Founded in 2013, Farmobile created a device — a Passive Upload Connection (PUC) — that plugs into a tractor’s diagnostic port to collect a variety of data useful to farmers and ag operations. Not only does the data provide information for farmers’ decisions on planting, spraying, fertilizing harvesting and more, it can be sold to third parties via Farmobile’s data marketplace.
“Farmobile’s technology allows farmers to access, control and monetize data like never before,” Dudley Hawes of Anterra Capital said in a release. “This is a team that understands farm data and the power of various data layers as they pull together.”
The funding will allow Farmobile to accelerate development of distribution channels in ag retail, insurance and equipment dealerships, Tatge said.
Farmobile was recognized as one of Startland News’ Top Startups to Watch in 2017 for its disruptive model in the trillion-dollar agriculture industry.
2017 Startups to Watch
stats here
Related Posts on Startland News
‘People pay for value’: How a young mom’s plan to hold passion tight drives her baby apparel side hustle
Coming from a family of business owners, Riley Rhoads knew she wanted to pursue entrepreneurship: starting her own business — but with a goal to help others, the founder of Hold Tight Baby said. “When I hear people talk about, ‘Oh, I want to be an entrepreneur; I want to start and own my own…
New in KC: Ops leader joins KCSourceLink to strengthen network’s collective impact for entrepreneurs
A newly created director of operations role at KCSourceLink is expected to boost efforts to connect entrepreneurs and small businesses with hundreds of resources for growing and scaling their ventures in Kansas City, as well as across the state through MOSourceLink. Dena Thomas Aouassou, a veteran of nonprofit entrepreneurship support and workforce training, recently relocated…
Cultura con carácter: How JEFES inks DINKC’s hometown team with drops of KC Latino hustle
Laedan “DINKC” Galicia draws a fine line between his creative mediums: skin, pen, fabric, and paint — now from a artists hub in Kansas City’s Columbus Park neighborhood. From his signature tattoo style to his JEFES clothing line, DINKC’s bold perspective is leaving a mark on Kansas City culture (and the Super Bowl). “With JEFES, I…
BKS Artisan Ales plans Crossroads nanobrewery, tapping additional location closer to KC’s hub of activity
BKS Artisan Ales — dubbed a “little beer heaven” by industry insiders — is bringing its award-winning operation to the Crossroads, adding a second, smaller brewery location near what founders Brian and Mary Rooney see as a downtown tourism market that also is easily accessible to some of their business’ biggest local fans. The space…