Flyover Capital celebrates $63 million sale of its second portfolio firm Agrible
August 9, 2018 | Startland Staff
In a deal that further validates the vibrancy of the Midwest tech scene, leaders at Kansas City-based Flyover Capital are lauding the sale of its second portfolio firm since its launch in 2014.
Flyover — a venture capital firm whose mission is to fuel the next generation of tech startups in the Midwest — is enjoying the sizable exit of Agrible, an Illinois-based ag tech startup, said Flyover partner Keith Molzer. Agrible sold to Nutrien, based in Loveland, Colorado, for $63 million.
“We are excited for the Agrible team,” Molzer said. “They have worked diligently to build a great company and having Nutrien acquire the company is a great testament to their team and the technology they have built.”
The sale is significant not only to Flyover and its partners but also the flyover region it serves, Molzer said. The deal is the second exit in Flyover’s portfolio, with the first being Kansas City-based ZOLOZ, formerly EyeVerify.
Flyover participated in three investment rounds in Agrible, he added.
“This is a great win for the Midwest and further validates Flyover’s goal of helping create the next generation of technology success story in flyover country,” Molzer said. “This exit provides a substantial return for the investors in Flyover Capital as well. As a first-time fund, we focus on finding early-stage technology companies that we can help grow and utilizes the natural resources in the region. In Agrible’s case, being in the heartland and close to the University of Illinois provided them access to the best ag tech talent and helped them accelerate their growth. It is a testament to the region, as Nutrien is keeping the Agrible team in Champaign, Illinois.”
Agrible created a platform that includes a variety of farmer advisory tools, data science capabilities, predictive analytics. Nutrien is a publicly-traded ag tech firm.
Flyover Capital launched in 2014 and features several Kansas City entrepreneurs among its leadership, including Molzer, Thad Langford and Marty Bicknell. The firm has invested in 13 companies in Kansas, Missouri, Nebraska, Texas, Illinois, Indiana, Wisconsin and Maryland.
Featured Business
2018 Startups to Watch
stats here
Related Posts on Startland News
Kritiq fashion show MADE for Kansas City designers
Designers don’t need to go to the east or west coasts to pursue their dreams, Mark Launiu said. “There’s so much passion and grind here in Kansas City. And a lot of people on the outside don’t know that,” said Launiu, co-founder at MADE Urban Apparel. “We’re always overlooked because they think of just our…
Random origins, but no fluke: MADE grinds to grand expansion
The MADE Mobb is getting used to risk taking. “We know what it’s like to walk into something blind,” laughed Mark Launiu, co-founder at MADE Urban Apparel. Launiu, along with co-founders Vu Radley and Jonathan “JP” Platz, launched MADE in 2012 with the streetwear apparel line selling in just a few pop-up shops. Early partnerships…
Smart city leader: Can technology predict deadly shooters before it’s too late?
A smart city is a safe city, Herb Sih said. And technology can help. “If you don’t have safety, you don’t have anything,” said Sih, managing partner at Think Big Partners, one of the key collaborators in Kansas City’s $15.7 million public-private Smart City initiative. Having grown up in St. Louis, Sih said he has…
T-shirt printer GOEX hopes to clad workers in dignity
A Kansas City T-shirt screen printer has a lofty mission: Turn local purchases into global impact. “Your dollar has value in how it’s treating others across the world,” said Ryan Hudnall, engagement director at the Global Orphan Project. Tucked away near Wyandotte and 31st streets, GOEX serves as an offshoot of the Global Orphan Project,…