FarmLead, an Ottawa, Ontario, Canada-based online grain marketplace, raised $6.5m in Series A funding.
The round was led by Monsanto Growth Ventures (MGV), with participation from Avrio Ventures, the MaRS Innovation Accelerator Fund and Serra Ventures. In conjunction with the funding, Kiersten Stead of MGV and Aki Georgacacos of Avrio Ventures will join FarmLead’s Board of Directors.
The company intends to use the funds to expand into the U.S. market.
Led by CEO and Co-Founder Brennan Turner, FarmLead provides a marketplace that allows buyers and sellers to list, negotiate and finalize grain deals. Buyers and Sellers can register, browse, post and negotiate grain deals on the Marketplace for free. and only pay when a deal is finalized.
Since its inception in 2013, the company has grown to serve more than 4,000 farms across North America. It operates offices across Canada and now has established its Midwest office in Chicago.