in Series A Funding
Official Press Release
Farmers work to feed the world. Yet somehow, corn, wheat and rice sales are still happening at a local level through antiquated paperwork and phone negotiations. Now, an Ottawa-based startup called FarmLead has raised $6.5 million in venture funding to connect grain producers and buyers automatically online.
After carefully tending to its seed round, Ottawa-based FarmLead has successfully harvested $6.5-million in series-A funding.
Considering the current downturn in commodity prices, helping farmers to get as much as possible for their produce is more important than ever. Even getting a 5% to 6% uplift in pricing is significant.
FarmLead, a Canadian startup, is looking to disrupt the decades-old market for trading things like wheat, corn, and soybeans, replacing phone calls and handshakes at the feed store with a mobile app-based Marketplace.
FarmLead is updating the agriculture industry with its online Marketplace for grain buyers and producers. And they just raised $6.5 million to expand their venture, including hiring at their US headquarters in Chicago.
With so much of their business dependent on the weather, many farmers are, in fact, eager adopters of technology that improves crop yields or saves time and cost.
FarmLead built a platform that can do just that and is a key part of a diversified approach to marketing and trading grain.
FarmLead, an Ottawa-based online grain Marketplace, received an investment of $6.5 million US. Part of the investment will help FarmLead include a forward contracting service into its platform, allowing farmers to sell grain to interested buyers based on forecasted grain yields.
Technology startup FarmLead is part of this movement. The Ottawa-based company and has created an online Marketplace platform that automatically connects buyers and producers of grain — and investors have taken notice.
Farmers produce grain and livestock, but when harvest is over, where do they sell? Often to the closest location or whatever buyer they can find. FarmLead wants to change that.
This investment signals the appetite for a solution that accelerates the rates of commercial grain marketing transactions.
FarmLead, a Canada-based online grain Marketplace, raised $6.5m in Series A funding.The company intends to use the funds to expand into the U.S. market.
The platform, launched in 2013, connects 4,000 grain growers to buyers outside of their local markets and collects a $1 per metric ton fee from both parties.
Term Sheet - Monday March 20: FarmLead, a Chicago online grain Marketplace, raised $6.5 million in Series A funding.
Grain marketing and knowing when timing is best to make a sale can be one of the hardest tasks on a farmer’s to do list.
Website interface gets upgrade to please crop buyers, sellers. Platform improvements allow live chats between growers and buyers.
FarmLead.com helps Grain Buyers and Growers connect & transact confidently in an online Marketplace with Risk Alert insights from Dun & Bradstreet.
FarmLead plays a key role in the Ottawa startup ecosystem.