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
CAPS Network expanding into rural Kansas schools with $951K education grant
Nearly $1 million in federal funds is expected to help CAPS Network expand its profession-based learning into rural school districts, focusing on the state of Kansas, Corey Mohn shared. The $951,000 grant from the U.S. Department of Education was announced earlier this week. “We are really excited about the impact this funding will help us…
Former sports executive teams with startup veteran to simplify visa process for foreign athletes
After 16 years handling immigration visas for the Kansas City Royals, Kyle Vena knew there must be a better way to streamline the daunting task of bringing athletes to the U.S. to play baseball — and keeping them, he shared. “When I left [the job] in the summer of 2022, I had this concept baked…
Cheese, chips, and cheers: Deez Nachos joins Parlor with its first fixed location
Dwight Tiller II is taking his family’s loaded nacho business from wheels to brick-and-mortar with its new spot — parked on the first floor of Parlor, Kansas City’s first modern food hall. Previously at the Crossroads-based Parlor as the former co-owner and head chef of KC Mac and Co., Tiller now is taking Deez Nachos…
Serial entrepreneur Matt Watson completes strategic buy-out of Full Scale
A prominent, twice-exited Kansas City entrepreneur has acquired full control of a company he co-founded five years ago — with plans to expand its leadership team and grow its employee count from 300 to 500 in 2025. Matt Watson announced Monday the completion of a strategic buyout of his co-founder, Matt DeCoursey, at Kansas City,…