Ag tech firm Farmobile reaps big multi-million dollar investment
December 18, 2015 | Bobby Burch
Agriculture company Farmoblie reaped substantial funding to accelerate development and distribution of its technology to collect data from farm machinery.
The Kansas City-based firm snagged a $5.5 million Series A round of equity investment led by Amsterdam-based Anterra Capital.
Founded in 2013, Farmoblie created a device — or Passive Upload Connection (PUC) — that plugs into a tractor’s diagnostic port to collect a variety of data useful to a farmer. The company, which to this point has been self-funded, created software to provide information for farmers’ decisions on planting, spraying, fertilization, harvest, fleet management and more.
A Farmobile PUC
“Data is one of the most valuable things a farmer harvests today,” Founder Jason Tatge said in a release. “Today’s announcement is a huge win for farmers around the world who want to put their data to work. Farmers ought to own and directly profit from the information they produce. It’s that simple.”
The company’s proprietary tools standardize geo-located agronomic and machine data, Farmobile is “a champion for farmer data rights, ownership and data portability” and focuses on “strengthening existing farmer relationships and building tools to reduce the frictions of data portability.”
Farmoblie’s technology seems to be a perfect fit for Anterra’s focus on financing the growth of firms creating sustainable food and agricultural offerings. The venture capital firm’s mission is in part to support “innovation in the way we produce, move and consume food.”
“We are investing in an experienced team with a superior product that is addressing a large market opportunity,” Anterra Capital partner Dudley Hawes said in a release. “We’ve been looking for technology that can demonstrably make farms more profitable, at scale. Farmobile has both the vision and the grit necessary to spark a revolution in the use of farm data.”
Tatge, a member of the Pipeline organization, has long been an advocate of empowering farmers through data sharing.
“No one should ever know more about a farm than the farmer,” Tatge said in the release. “Farmobile provides a clear alternative to Big Ag’s vertical data silos. We can’t wait to make a difference for thousands of new customers around the world.”
Check in for more on this story.
2015 Startups to Watch
stats here
Related Posts on Startland News
Founder of defunct Symptomly shares lessons from failure
Failure is a touchy subject. But for Derek Bereit — the former CEO and co-founder of mobile asthma tracking company Symptomly — his company’s failure was an opportunity shrouded in a difficult situation. Rather than sulking, Bereit sat down with Startland News to discuss Symptomly’s demise, the lessons it provided him and the possibilities that…
Founders discuss tough decisions entrepreneurs face
Two founders took the stage at Kansas City’s chapter of 1 Million Cups to discuss the vast variety of tough decisions entrepreneurs face when starting and running a business. Stuart Ludlow, co-founder of RFP 365 and Sarah Shipley, co-founder of BikeWalkKC, offered insights and advice for those launching a business. Read about RFP365’s recent funding…
Lenexa studio joins national coworking relief effort for Nepal
Despite the nearly 8,000 miles between them, a Kansas City-area coworking studio is helping with relief efforts in Nepal after a 7.8 magnitude earthquake destroyed hundreds of buildings and claimed thousands of lives. Lenexa-based Plexpod has joined the international “Coworking for Nepal” movement that has attracted dozens of studios to encourage fundraising for Nepal relief…
KC’s first innovation officer reflects on work, city’s tech future
After more than two years of service, Ashley Hand is leaving the driver’s seat of Kansas City’s innovation efforts. Hand, who soon will be departing as Kansas City’s chief innovation officer, was tasked with implementing innovative strategies to improve how city government can better serve Kansas Citians. The city will be accepting applications for the…