FarmLogs Gets $4 Million to Help Develop Farming TechnologyBy Kyle Pollock on January 17th, 2014 /
FarmLogs is a Michigan-based AgTech company that builds software for farmers to digitally monitor their farms. Farmers use the software as a tool to manage their activity, track field rainfall, and view crop history. The startup has now raised $4 million to grow their software company.
The founders, Jesse Vollmar and Brad Koch, started their work in Caro, Michigan and was accepted into Y-Combinator in Silicon Valley. To be closer to many farmers they are serving, Jesse and Brad moved back to the Midwest. Now in Ann Arbor, Michigan, FarmLogs serves customers in all 50 states and 130 countries. FarmLogs recently announced that it raised $4 Million in a series A round of financing led by Drive Capital, a venture capital fund that focuses on Midwest companies.
Since co-founding FarmLogs out of the software he built for his family agribusiness, Jesse and his team have found a greater call to support farmers. Over 5% of row-crop farms in the U.S. are using Farmlogs’ product. The company delivers a well designed interface, making the user experience easier than most farming software products, which are typically not centered around the user. Jesse was also recently named in Forbes Magazine’s 30 Under 30 for his work in the AgTech industry.
“We are using our dataset and machine learning to predict the next crop on a field and automatically build a plan around that rotation,” said Jesse. “This tool helps farmers quickly uncover their cost of production and break-even for upcoming crops.”
The company added new features to their product in the summer of 2013 and is continuing to grow with more positions open on their website. With the support of Drive Capital and existing investors, Huron River Ventures, Hyde Park Ventures Partners, and Hyde Park Angels, farmers can leverage FarmLogs’ product and monitor 1,000 acres free. I spoke with a Michigan farmer myself, who believes the future of the AgTech industry looks promising with technology companies like FarmLogs, there to support him.