Equipment and technology provider Ag Growth International Inc. (AGI), Winnipeg, said on July 16 it has agreed to make a minority equity investment of US$15M in Farmobile Inc., Leawood, Kan., an independent agriculture technology company that provides hardware and software services for the real-time collection, organization, analysis, and storage of farm data.
AGI and Farmobile have also entered into a Strategic Commercial Agreement to expand the existing collaboration between the two companies. AGI has the right to appoint two directors to the Farmobile board of directors as a result of this investment.
“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,” said Tim Close, AGI CEO. “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,” Close added.
AGI acquired IntelliFarms earlier this year (GM March 8, p. 24).