Document: FarmLink raises additional $24.6M for ag tech
January 19, 2016 | Bobby Burch
Ag tech startups in Kansas City are plowing a promising 2016.
Kansas City-based FarmLink recently secured nearly $24.6 million in investment capital for its farming technology, according to a Securities and Exchange Commission filing.
The company offers a suite of tech services for farmers, including analytics platform TrueHarvest and machinery sharing platform MachineryLink Sharing.
TrueHarvest is a yield benchmark tool that helps farmers validate the impact of environmental variables to optimize production of crops. Through the MachineryLink platform, farmers can pay to use farm equipment when needed and also earn money for renting their equipment when it’s not in use. FarmLink says that lessees will have on-demand access to an inventory of equipment at varying costs, offering them enhanced flexibility, cash flow and revenue.
FarmLink has raised about $67.8 million in capital to date with OpenAir Equity Partners as its primary investor. Founded in 2010, the company has 80 employees and was co-founded by Ron LeMay, David Govert and David Forsee.
FarmLink’s most recent raise comes on the heels of another local ag tech success story. Farmobile announced in December that it raised $5.5 million in a Series A round from a large Amsterdam-based venture capital firm. Founded in 2013, Farmobile invented a device — or Passive Upload Connection (PUC) — that plugs into a tractor’s diagnostic port to collect a variety of farming data, such as info on planting, spraying, fertilization, harvest, fleet management and more.
2016 Startups to Watch
stats here
Related Posts on Startland News
KC arts groups ‘left reeling’ after MO governor slashes millions from budget
Editor’s note: The following story was published by KCUR, Kansas City’s NPR member station, and a fellow member of the KC Media Collective. Click here to read the original story or here to sign up for KCUR’s email newsletter. [divide] Months after area arts and culture nonprofits saw a loss of funds from the National Endowment for the Arts, Gov.…
Transportation company’s move to consolidated HQ expected to bring 250 workers to KC site
Consolidating five locations into a single, state-of-the-art Kansas City campus means Master’s Transportation — a leading provider of commercial buses and vans — will relocate 130 Missouri employees to its new headquarters, with plans to expand to 250 by the end of the year, the company said. “This expansion reflects the company’s rapid growth and…
Inspiration took him to a dark space; why ‘Macbeth KC’ creator wants to trap audiences in a world with no heroes
An immersive experience set in a post-apocalyptic world — the brainchild of Kansas City artist and designer Keyon Monte — transforms an iconic Shakespearean tragedy into a warped, high-fashion human drama staged within a downtown coworking space. “Macbeth KC” removes the polish and distance often seen in adaptations of William Shakespeare’s works, said Monte, describing…
Marma launches sister brand to fit weight loss support with women’s health needs
Weight loss support wasn’t originally in the plans for Marma — the only OB-GYN and registered dietician-approved nutrition platform for women during their reproductive years — shared co-founder Meredith McAllister. But with the rise of GLP-1 medications, she and co-founder Victoria Weber saw the opportunity for a nourishing, evidence-based approach to weight loss support. In…