Farmer’s Business Network, Inc., a San Carlos, CA and Sioux Falls, S.D.-based -to-farm ag tech platform and farmer network, closed a $250m Series F funding.
The round was led by funds and accounts managed by BlackRock Inc., with participation from new investors Baron Capital Group, Balyasny Asset Management LP, Mandi Ventures, Lupa Systems and Ron Shaich and existing investors DBL Partners, Temasek, funds and accounts advised by T. Rowe Price Associates, Inc., GV, Expanding Capital, and Kleiner Perkins. Certain funds managed by Fidelity Investments Canada ULC and affiliates also participated in the financing.
The company intends to use the funds to expand its Farmers First℠ FBN Direct℠ range of direct-to-farm inputs including seed, crop protection and biologicals.
Led by Amol Deshpande, Co-Founder and CEO, FBN is an independent ag tech platform and farmer-to-farmer network with a mission to power the prosperity of family farmers around the world, while working towards a sustainable future. The FBN network has grown to cover more than 40 million acres of member farms in the U.S., Canada and Australia. The company has over 600 personnel and offices in San Carlos, Calif., Chicago, Ill., Sioux Falls, S.D., a Canadian Headquarters in High River, Alberta and an Australian Headquarters in Perth.