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
Video: Hammerspace fueling maker community through supportive network
Since its launch in 2011, Hammerspace has served as a community space for hundreds of Kansas Citians. Unlike coworking spaces with traditional desks and chairs, Hammerspace gives members access to lasers, 3-D printers, sewing stations, radio components, and equipment for welding, sculpting, woodworking and other art forms. In April, Hammerspace moved out of its Brookside…
Hammerspace grows maker mission on Emanuel Cleaver Boulevard
Dave Dalton is a maker — a blacksmith, a bladesmith, a woodworker, an artist and a jack of all trades. More than just a sum of his skills, being a maker is all about perspective, said Dalton, founder of Hammerspace Community Workshop. And when a friend dared him to give his tip jar an upgrade, Dalton…
Innovation Stockyard selects first St. Joe startup for Digital Sandbox
A curbside recycling service is expected to be the first startup to receive Digital Sandbox KC proof-of-concept funding through the Innovation Stockyard incubator. Toss it Curbside, a service with which customers place unwanted items on their curbs to be recycled or donated, plans to use the funds and the St. Joseph-based incubator program to optimize…
Applications open: Sprint Accelerator dialing into ag tech, IoT with 2018 cohort
Investing in startups isn’t just about providing needed capital, Doug Dresslaer said. As the Sprint Accelerator gears up for its fifth year, Dresslaer, managing director of the program, said the accelerator’s 2017 cohort — the first since its move toward establishing corporate partnerships and pivot away from Techstars — proved industry relationships themselves create tremendous value.…