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
‘A relentless pursuit of perfection’ earns Niall national nod
Kansas City watching-making startup Niall recently topped a list of leading American-made watches. A publication that features social impact brands,The Good Trade dished a cornucopia of commendations to Niall, a two-year-old startup that’s surged in popularity and snagged headlines around the nation. The online media group made note of CEO Michael Wilson’s tireless pursuit of excellence with…
Fund Me, KC: FireBoard’s thermometer cooks up smarter chefs
Startland News is continuing its segment to highlight area entrepreneurs’ efforts to accelerate their businesses. This is an opportunity for entrepreneurs — like Fireboard founder Ted Conrad — to share their stories to gain a little help from their supporters. Back FireBoard’s Kickstarter here. Who are you? Ted Conrad, founder of FireBoard What does FireBoard…
Serial entrepreneur Gary Fish’s new venture is ‘about helping others be successful’
After over a year of settling down into a relaxed lifestyle, serial entrepreneur Gary Fish found that he missed the thrill of competition that comes with running a business. In April, the successful Kansas City businessman launched Fishtech Labs — a managed security services company that also boasts an investment arm that targets tech firms.…
Ahead of KC Coworking Week, leaders dispel industry misconceptions
About a year ago, leaders in Kansas City’s coworking industry banded together in an alliance to bring awareness to their trade. The Kansas City Coworking Alliance has grown as a catalyst in the area startup community, promoting independent collaborative working among entrepreneurs and remote workers. Comprised of 10 studios around the metro, the group is…