BIG News

Farmobile Announces $18.1 Million in Series B Funding

Overland Park’s Farmobile has just raised another $18.1 million in Series B investment, bringing its total funding to more than $28 million.

The money will allow the company – which helps farmers collect and profit from their data – to expand its platform.

“We will accelerate development of distribution channels in ag retail, OEM and equipment dealerships, and insurance,” said Jason Tatge, Farmobile’s CEO and co-founder.

“Connecting these channels with farmer-permissioned raw data sets will revolutionize the way new products are brought to market and performance is measured. Our mission is to make sure farmers, worldwide, have access to a cost-effective strategy to collect, protect and own their digital assets with a clear path to ROI opportunities.”

This round of investment included funds from Anterra Capital, AmTrust Agricultural Insurance Services and other existing investors.

“Farmobile’s technology allows farmers to access, control and monetize data like never before,” said Dudley Hawes, partner at Anterra Capital. “This is a team that understands farm data and the power of various data layers as they pull together.”

Founded in 2013, Farmobile has created devices and platforms that allow farmers to collect data from their machinery and use that information for data-driven agriculture – for example, more precise application of water, fertilizer and other resources. Farmers also have the option of selling their data to third parties on Farmobile’s Data Store marketplace.

“Farmobile’s approach to ag data management is a breath of fresh air for the industry,” said Mark Raymie, president of AmTrust Agriculture Services. “Better utilization of ag data is going to have huge implications across every facet of agriculture, including crop insurance. We’re investing in the future of ag.”