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
Meet customers where they are (and they’re on TikTok): Marketing experts urge startups to invest in brand building
Like it or not, “TikTok remains king,” said Mikita Burton, encouraging startup founders to balance negative headlines about the video-sharing social media platform with its incredible potential for reaching their most-sought-after audiences. “We don’t just get to pick our customers’ favorite platforms, so you need to be where they are,” Burton, a social media strategist…
Bo Lings owners adapt to lifestyle trends with new fast casual concept in River Market
A new City Market dining option from the couple behind the Bo Lings restaurant chain is serving up fast casual Chinese dishes with authentic flavors and familiar tastes, said Richard Ng. “It’s a new concept, and we hope it takes off,” said Ng, co-owner of Bo’s Kitchen at 108 E. 5th St. in the River…
Corral raises $1.38M to expand virtual fence solution’s US hoofprint; M25, Grit Road beef up deal
Startland News’ Startup Road Trip series explores innovative and uncommon ideas finding success in rural America and Midwestern startup hubs outside the Kansas City metro. LINCOLN, Nebraska — Agtech pioneered by a third-generation rancher-turned-startup founder has corralled an oversubscribed $1.38 million funding round with backing from a healthy herd of regional investors. Corral Technologies, a…
These KC students just won $50K for their school’s STEM efforts — and exhibit space in Science City
Winning the $50,000 grand prize at Burns & McDonnell’s Battle of the Brains competition made for the best school day ever, shared Reese Moreno, a member of the victorious Delta Woods Middle School team. “This is mind blowing,” she explained Tuesday after the awards ceremony at Union Station in Kansas City. “The moment they announced…