Farmobile Inc., a Leawood, Kan.-based agtech startup, received an investment led by Ag Growth International Inc. (TSX: AFN).
The amount of the deal was not disclosed.
The company intends to use the funds to accelerate growth to reach farmers worldwide, and drive the collection of agdata to inform decisions in the field and create value-added revenue streams for farmers.
Farmobile and AGI, also, have entered into a Strategic Commercial Agreement to expand collaboration and integration between the companies.
Led by Jason Tatge, CEO, Farmobile is building and provides a technology platform to enable farmers and channel partners to collect, share and monetize data. The company specializes in collecting second-by-second agronomic and machine data points across mixed fleets. Surfacing information from machines and fields allows users to invest in technology that will move the entire industry forward.
Since launching its data collection device (Farmobile PUC) in 2014, Farmobile has collected more point-by-point farm data, including detailed agronomic data for planting, harvesting, foraging, spraying, and spreading; field data (boundaries, variety, and crop type); and location data, from more sources than anyone else in the industry.
The Farmobile DataEngine℠ platform turns this raw data into its standardized, visual Electronic Field Records (EFRs) making it easy to gain insights, share with advisors and power decision-making. Built on top of the Farmobile DataEngine platform, the Farmobile DataStore℠ exchange digitally connects farmers with data buyers who can leverage this high-quality, layered farm data in their business decisions.