Winnipeg, Canada based Ag Growth International (AGI) has invested $15 million (U.S.) in Kansas-based Farmobile. In addition to a minority investment in the startup, AGI and Farmobile have also agreed to a partnership for expanded collaboration and integration.
“Our investment in Farmobile substantially expands our technology platform and integrates automated data collection seamlessly within our IntelliFarms SureTrack farm management and grain exchange platform,” Tim Close, CEO of AGI said in a recent news release.
“SureTrack is the only business tool available for farmers that brings together a suite of sensors, from the field to grain bins, to enable complete farm management all integrated with real time field activity data, market leading grain handling, storage and conditioning equipment, and a comprehensive grain exchange that allows farmers to find the best price for their product or to market their product based on the characteristics of their grain. A powerful combination that now also provides a means for our customers to standardize, control and monetize their data, on their own terms. We are very pleased to deepen our relationship with Farmobile as we stay laser focused on delivering market leading solutions for our customers,” he said.
Additionally as a result of this investment, AGI can appoint two directors to the Farmobile board of directors.
Founded in 2013, Farmobile has hardware and software services focused farm data and its real-time collection, organization, analysis, and storage. Its key hardware is the PUC, which is an internet of things enabled device that streams geo-tagged agronomic and machine data.
“Since their founding, AGI has been instrumental to the agriculture industry, connecting the global infrastructure through technology, equipment and products to help feed the world,” Jason Tatge, CEO of Farmobile said in a news release. “In a precision ag world, data is a crucial system of record for every pass on a field, which quickly turns into a system of orchestration to enable better in-field management decisions. AGI understands that, so we are thrilled to have a partner and investor like AGI as we continue on our mission to help unlock the full potential of data in agriculture.”
Farmobile previously closed two rounds of funding, $5.5 Series A in 2015, and $18.1 Series B in 2017.