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
Kansas brothers launch speedy trial for app that eases reentry for the wrongfully incarcerated
Podcast host-turned-innovator Dylan Carnahan is a man built for talking, he said, but there’s a time when words aren’t enough — when action is needed in the face of injustice. For Carnahan and his brother, that moment is now. “While media spreads awareness, software facilitates action,” said Carnahan, teasing the tech he’s developing alongside Alex…
Restaurant’s nostalgia is only part of it’s recipe: How Paul’s Drive In sizzled a community staple by ‘doing good first’
Editor’s note: The following story was written and first published by the Economic Development Corporation of Kansas City, Missouri (EDCKC). Click here to read the original story. In the heart of South Kansas City, Paul’s Drive In on Blue Ridge Blvd has been a cherished staple since the 1960s. Through ups and downs — including…
Meet six coalitions earning grants through Kauffman Foundation’s new ‘Collective Impact’ funding pathway
Systemic change happens when communities come together to drive transformation through collaboration, said Dr. DeAngela Burns-Wallace, announcing a half-dozen grants to high-capacity organizations with strategies to close economic mobility gaps in the Kansas City region. The “Collective Impact” planning grants of up to $500,000 are awarded to the winning coalitions are the first piece of…
‘Mama Mystery’ podcast builds true crime following from serial entrepreneur’s St. Joe home studio
ST. JOSEPH, Missouri — Kelly Evans is no stranger to a good mystery. But the real puzzle, the mother of four said, is how she mastered multitasking her true crime podcast, multiple businesses, and a radio show — all while hooking her audience with gripping storytelling and a dash of humor to balance out the…