Ag tech startup Farmobile raises $18M round for global expansion
October 27, 2017 | Bobby Burch
Ag tech company Farmobile has reaped a substantial Series B funding round that positions the firm to rapidly accelerate across the world.
Jason Tatge
The Overland Park-based company announced Friday that it raised $18.1 million to expand its data platform to help farmers mitigate risks and generate a revenue from the data they own.
The round includes Anterra Capital, AmTrust Agricultural Insurance Services and other undisclosed investors. The new funding pushes the firm’s total capital raised to more than $28 million.
The platform aims to empower farmers to make better choices and to grow their operations, CEO Jason Tatge said.
“Our customers continue to tell us Farmobile’s data as a service platform is the best way to collect, organize, share and sell their agronomic and machine data,” Tatge said in a release. “Our mission is to make sure farmers, worldwide, have access to a cost effective strategy to collect, protect and own their digital assets with a clear path to ROI opportunities.”
Founded in 2013, Farmobile created a device — a Passive Upload Connection (PUC) — that plugs into a tractor’s diagnostic port to collect a variety of data useful to farmers and ag operations. Not only does the data provide information for farmers’ decisions on planting, spraying, fertilizing harvesting and more, it can be sold to third parties via Farmobile’s data marketplace.
“Farmobile’s technology allows farmers to access, control and monetize data like never before,” Dudley Hawes of Anterra Capital said in a release. “This is a team that understands farm data and the power of various data layers as they pull together.”
The funding will allow Farmobile to accelerate development of distribution channels in ag retail, insurance and equipment dealerships, Tatge said.
Farmobile was recognized as one of Startland News’ Top Startups to Watch in 2017 for its disruptive model in the trillion-dollar agriculture industry.
2017 Startups to Watch
stats here
Related Posts on Startland News
Plaza food hall returns with Lula’s, Guy’s, J. Rieger and more KC foodie favorites inside
A hotel food hall — just up the hill from a main artery of the Country Club Plaza — is planning a restaurant rally this week; reopening its shared culinary experience with some of the Kansas City food scene’s biggest local brands and a food hall rarity: full-service. Under new management, a new name, and…
Fit Truk shifts gears, building mass by scaling custom-built mobile gyms across US
Fit Truk has traded its hometown workout circuit for a manufacturing floor and an international sales map. The Kansas City-born company is now producing custom-built mobile gyms for clients across the country and abroad. “We have three different models of trucks,” said Josh Guffey, co-founder of Fit Truk. “We have trucks going out all over…
Down to vibes: Fans of fellow their musicians form Kansas City dream pop group Silvee
Kansas City’s lineup of creative talent plays best when musicians can plug into bands where they’re needed most, said Sky Cowdry, describing an inclusive local music scene built on shared resources, and sounds. Silvee — a singer-songwriter-driven dream pop group infused with rock and roll (and set to perform at Tuesday’s Small Biz to Watch…
‘Economic eviction notice’: Property owners decry tax spike as ‘death sentence for small business’
Critic of tax office says Jackson County is betting most property owners hit with inflated bills are too intimidated to appeal State lawmakers could be Jackson County business owners’ last hope, said Ian Davis, testifying Wednesday in the Missouri state capitol about spiking property tax assessments that have seen entrepreneurs hit with increases of up…