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
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 —…
Don’t like cookies? Your new favorite weirdough baker hungrily accepts the challenge
Tierney Larson is on a mission to bake the perfect cookies for those like herself with a not-so-sweet tooth, the Outliers Baked Goods owner shared. Each month, the self-taught baker and New York native experiments, developing four new adventurous flavors to please the taste buds of the outliers or weirdoughs of the dessert community —…
Shocked by a discovery while pregnant, this entrepreneur vowed to make self-care products from ingredients safe enough to eat
‘I might as well make my own’ Jess Winns, founder of Ari Rose Body Care, had always been pretty conscious of what she and her three daughters put into and onto their bodies, she said. However, as she researched more about holistic wellness while pregnant with her second daughter, Winns read about how more than…
Mediterranean of the Midwest: How this restaurateur is crafting authentic tastes for diners in the heart of Kansas
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. This series is possible thanks to Go Topeka, which seeks economic success for all companies and citizens across Shawnee County through implementation of an aggressive economic development strategy that capitalizes…