Bushel, a Fargo, ND-based provider of tech solutions for growers, grain buyers, protein producers and food companies, closed an $19.5m Series B funding round.
The round, which brought total capital raised to date to over $28m, was led by Continental Grain Company with participation from Lewis & Clark AgriFood, Germin8 Ventures and others, including previous investors.
The company intends to use the funds to accelerate new offerings for the grain industry and the broader agriculture supply chain, including technology and solutions that improve profitability and market access for growers of all sizes, and enhance efficiency and insights for financial services and farm management companies across the value chain, link in-season production data and sustainable practices with downstream traceability, and enable direct and local sourcing of grains and other crops.
Led by Jake Joraanstad, co-founder and CEO, Bushel provides software technology solutions for growers, grain buyers, protein producers and food companies.
The company provides real-time account information directly to growers by integrating into a grain elevator’s accounting system and market feeds.
Offered through elevator-branded apps, Bushel powers real-time scale tickets, contracts, commodity balances, futures, prepaids, cash bids, settlements, e-sign and contract management. Its product suite also includes websites and market feeds, and a custom software division focused on agriculture.
Since launching in 2017, the company’s software has powered 1,200+ grain facilities across the U.S. and Canada with real-time business information for their producers.