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
Meat the moment with valor: Veteran cattle rancher deploys co-op model to save the Midwest cowboy
WESTON, Mo. — Almost a decade after launching KC Cattle Company — his veteran-owned and -operated wagyu beef company — Patrick Montgomery is forging a new path to help fellow ranchers and farmers survive. He’s now digging his spurs into Valor Provisions, a direct-to-consumer online marketplace offering premium proteins from small, independent, veteran-owned ranches like…
Student-raised meats graduate to university storefront as consumers look closer at what makes the cut
WARRENSBURG, Mo. — A new partnership puts pork chops, brats and select cuts from across farming projects at the University of Central Missouri in a retail storefront accessible to community members shopping for locally raised meat. UCM Farms — which spans more than 1,000 acres of farm ground within 10 miles of campus — is…
Nonprofit founder, tech people leader join Kauffman as trustees on shared mission: economic inclusivity
The year-long transformation of the Ewing Marion Kauffman Foundation continues this week as the influential philanthropic organization announced two new trustees meant to bolster its rebooted grantmaking strategy and commitment to driving equitable economic mobility in Kansas City. Newly appointed leaders to the Kauffman Foundation’s Board of Trustees, Aimée Eubanks Davis and Kristen Ludgate bring…
No cookie-cutter way to create an entrepreneur, so what’s the catalyst? Inside KU’s venture test lab
Editor’s note: The University of Kansas’ School of Business is a partner of Startland News. It’s a practical testing ground for KU students to flex their entrepreneurial muscles, Ryan Rains said, describing a business program built for could-be entrepreneurs who aren’t necessarily even business majors — and who, ultimately, might choose to abandon their concept…