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
Fund Me, KC: Brewkery hopes to tap support for healthy Kombucha
Editor’s note: Startland News is continuing its new segment to highlight area entrepreneurs’ efforts to accelerate their businesses. This is an opportunity for entrepreneurs to share their stories to gain a little help from their supporters. If you or your startup is running a crowdfunding campaign, let us know by contacting news@startlandnews.com Who are you?…
Setting global record, more than 200 celebrate KC Coworking Day (with photos)
Coworking hard? Or hardly coworking? That was the question I asked myself amongst a crowd of about 200 local entrepreneurs, artists, government officials, nonprofit workers and community members who gathered Wednesday at the spacious Plexpod: Westport Commons to set the world record for the most people coworking in one place at the same time. As…
VIDEO: Startup leaders talk KC Startup Foundation (plus bloopers)
So, what exactly is the Kansas City Startup Foundation? For one, it is a foundation. Secondly, it involves startups. And last but not least, it serves Kansas City. If you have ever found yourself confused about what exactly the Kansas City Startup Foundation does and which programs it offers, then the video below is for…
Survey: KC small businesses lack action on diversity, inclusion efforts
For many small business people and entrepreneurs, working outside the corporate world has its perks. Some like the nimble nature of a small team, as well as the death of the cubicle. Others appreciate the adrenaline that comes with taking risks. Aside from the benefits, a recent study suggests that smaller businesses in Kansas City…