At Seamgen, we enjoy following startup trends, along with our lunch break! Combine the two and you’ve found yourself in the upcoming agriculture startups market.
While green tech is important, tech for our greens shouldn’t be overlooked either. New technology is aiding farmers in providing data and solutions to keep our food fresh.
In an era of big data, science, and connectivity, even agriculture is affected. All types of agriculture processes are enjoying the benefits, from farm equipment management to land mapping. AgTech is a driving force in the modern farming world.
Keep reading as we present 4 recently-funded agriculture startups, and how each one is changing the market.
Marketed as North America’s grain marketplace, FarmLead just finished a $6.5M Series A funding round on March 20th, 2017.
FarmLead is a platform that provides grain buyers and sellers a location to list, negotiate, and finalize deals. This mobile app–for Android and iOS–is pushing to become the future of grain marketing.
The platform labels itself as:
Thousands of buyers and sellers. 24/7 service. Lower fees. Total price transparency.
Within the $6.5M Series A funding, the big investors were Serra Ventures, MaRS Investment Accelerator Fund, Avrio Capital, and Monsanto Growth Ventures.
Despite the tagline focusing on North America, the startup was first launched in Canada, and primarily worked with Canadian farmers. With their recent funding, this agriculture startup is expanding to the United States, with a headquarters opening in Chicago.
Founded in 2015, HarvestPort just wrapped up its 2.5M Series A funding round on March 9th, 2017. Following the shared-economy model–think Airbnb, HarvestPort is a marketplace for renting assets and equipment to meet seasonal needs.
Below are the categories available to agriculture professionals:
- Heavy Machinery
- Transport Assets
- Farm Implements
- Site Services
- Supply Chain
- Irrigation Equipment
- Power and Lighting
The borrowing end works through a requesting, review, and reserve model, while the lending end works through a list, learn, and earn model.
Due to the matchmaking nature of the platform, Agfundernews.com called it “Tinder for Tractors” back in 2016.
3) TL Biolabs
Featured in Y Combinator Spring 2016, TL Biolabs is a livestock genetics startup that completed a $4M seed round on February 23rd, 2017. Using a proprietary microarray technology to genotype cows, the company is taking on farm management through a genetics perspective.
Launching in Summer 2017, the company is offering affordable $15 genomic testing so that farmers can test the whole herd. The genomic testing allows for farmers to predict heritable traits in their cattle; from there, they can harness a data-driven approach to breeding and livestock management.
Along with a vertical integration model of ear tag to test results, TL Biolabs also supplies software to manage the herd.
From their website:
Manage your herd from anywhere.
TLBi is our fully cloud-based herd management software.
Track data on all your animals from any device, at any time.
With both a mobile and desktop application, the software features BCMS integration, feature prediction, smarter search, and reports generation.
While the previously mentioned companies dealt with marketplace and management, Bowery is an agriculture startup that’s spinning the idea of a farm by making it exclusively indoors.
With $7.5M in angel and seed funding, its ready to launch its vertical farming model. The indoor farm method–no pesticides–allows them to control the entire process without the threat of natural elements and inclement weather.
The company labels itself as:
The Modern Farming Company
Our indoor farms create the ideal conditions for growing the purest produce imaginable.
The company’s vertical control allows them to apply a network of sensors to gather data before they use machine learning to identify the drivers of change within the plant.
Identifying and controlling these variables allows Bowery to control the flavor and health of their plants. Due to their emphasis on freshness, Bowery farms are local, and their products are meant to reach their final location within a day.
Thanks for reading!
We hope you enjoyed our list of 4 new players in the agriculture startups market.
Big data and analytics are increasingly becoming more integrated in our lives, so it was only a matter of time that we applied this technology to our food.
Want to read some more articles on startups? Check these out! Seriously, read all of them. All of them!