MyAgData, an Effingham, Ill.-based agricultural-focused data analytics startup, raised $2m in convertible debt financing.
Open Prairie has made its second investment through the Open Prairie Rural Opportunities Fund, a growth-stage private equity fund dedicated to providing capital to agribusiness companies throughout rural America.
The company intends to use the funds to scale its technology infrastructure and expand its sales and marketing teams to accelerate adoption of the MyAgData platform.
Established in 2012 by a team of experts in precision farming, crop insurance and technology and led by CEO Deb Casurella, MyAgData is an agricultural-focused data analytics company that has developed an acreage reporting solution. The cloud-based platform, available in both standard and mobile formats, enables collection of layers of geospatial data from precision-ag technologies prevalent on today’s farm equipment, simplifying the reporting process for crop insurance and USDA while also allowing for traceability of food production.
MyAgData integrates production ag data, facilitates management of the data, and transmits results to any stakeholders authorized by the producer.