Farmers Edge Closes $58 Million Investment Led By Mitsui And Kleiner Perkins

Farmers Edge, a global leader in precision agriculture and independent data management solutions, today announced it has received a $58 million CAD raise led by existing investors, Mitsui & Co., Ltd., Kleiner Perkins Caufield & Byers’ Green Growth Fund and Osmington Inc. The investment will go towards the expansion of the data science team, new product development, and global growth into South America, Australia, and Eastern Europe. Kenji Otake, General Manager, First Business Dept., IT Platform Div. of Mitsui & Co., Ltd., will join the Farmers Edge Board of Directors.

“Today, Mitsui is responsible for the procurement of 17.5 million tons of food resources each year, including grains, corn, and soybeans, and we are committed to increasing those levels, in a sustainable manner, as global population rises,” said Otake. “Meeting that global goal is what drove our first investment in Farmers Edge. Today, as Farmers Edge demonstrates its ability to operate in regions like Brazil, that lack traditional infrastructure to support technology-enabled agriculture, our strategic alignment deepens.”

“There’s a huge shift underway in agriculture as technology continues to enable the digitization of farming,” said Brook Porter, Partner at Kleiner Perkins Caufield & Byers’ Green Growth Fund. “Traditional incumbents are struggling to keep pace with this disruption, as farmers seek better tools to enable increased yields and profitability across multiple crops, in wide geographic regions around the world. Reducing costs while also reducing environmental impact is more important than ever – and Farmers Edge is leading this transformation.”

Today’s investment comes on the heels of a significant growth period for Farmers Edge, marked most notably by the opening of its U.S. headquarters in Minnesota, as well as its entrance into three of the world’s most prominent, emerging breadbaskets. In Brazil alone, there are nearly one billion acres of arable land that represent a significant and largely untapped market opportunity, primed for increased agricultural productivity. With partnerships across the industry, that bridge large multi-nationals to leading, regional agribusinesses, Farmers Edge has emerged as the prominent technology provider in the world’s largest agriculture markets.

“Global agriculture companies are looking for scalable business solutions to efficiently increase sustainability and traceability throughout the supply chain, and Farmers Edge has emerged as that market mover,” said Brian Hayward, Chairman of Farmers Edge. “This investment signifies the confidence that Mitsui and existing investors place in Farmers Edge to tap into previously underutilized agriculture regions around the world.”

“Over the past decade, we’ve become the largest independent agricultural network in the world. As we move into this next high growth period, we will continue to expand into lucrative markets like the U.S., as well as Russia, Australia, and Brazil, where our field-centric approach to predictive modeling is generating high yields even in data-sparse regions,” said Wade Barnes, President and CEO of Farmers Edge. “At the end of the day, our goal is to bring the precision agriculture movement to the largest broad acre markets in the world, creating a new generation of breadbasket regions in previously untapped land.”

Topics:

Leave a Reply

Data Management Stories
Data ManagementCDMS Announces SeedIQ Acquisition
June 26, 2017
Crop Data Management Systems, Inc., (CDMS) announces the acquisition of SeedIQ as part of its growth plan to provide complete Read More
Soil Scientists
Data ManagementAccessing USDA Soil Data for Precision Farming
June 13, 2017
Many precision farming websites have integrated the USDA NRCS soil survey database using the USDA Soil Data Access web portal. Read More
BASF Maglis Grower Tablet
Data ManagementData as Currency in Ag: We Aren’t There Yet
May 25, 2017
A hot topic in the precision ag revolution is the idea ag data will become a form of currency. Many Read More
Farming iPad
Data ManagementOpinion: ROI or Die in Precision Agriculture
May 12, 2017
The thought of $3.50 corn for the foreseeable future seems pretty disheartening. However, if you look at the precision ag Read More
Trending Articles
PrecisionAg Vision Conference
EventsPrecisionAg® Vision Conference: Focused on the Future
June 13, 2017
PrecisionAg® is pleased to announce the return of its PrecisionAg Vision Conference, October 10-12, 2017. Based on overwhelmingly positive response Read More
Gavin Newsom Forbes AgTech-Summit
ProfessionalsAgTech Summit Aiming High for Modern Farming Solutions
June 12, 2017
THRIVE AgTech, in partnership with SVG Partners and Forbes, is hosting the third annual Forbes AgTech Summit June 28-29 in Read More
Quantix Drone Farmer
DronesTop 10 Most Intriguing Technologies in Agriculture
June 3, 2017
This may be a bit of stating the obvious here, but we’ll throw it out there anyways: as much as Read More
Farming iPad
Data ManagementOpinion: ROI or Die in Precision Agriculture
May 12, 2017
The thought of $3.50 corn for the foreseeable future seems pretty disheartening. However, if you look at the precision ag Read More
BASF Maglis grower retailer tablet
Data ManagementQ&A: What BASF’s Latest Foray into Precision Ag Means For Growers
May 11, 2017
In late April, BASF agreed to acquire U.S. precision ag player ZedX, a leader in the development of agronomic weather, Read More
Mung beans Australia
InternationalPrecision Ag in a Tough Season in Australia
May 8, 2017
This year’s summer crop season has been a tough one for most growers in Australia. Prolonged periods of high temperatures Read More
Latest News
Ag Retailer and Growers with tablet WinField United
Grower Services & SolutionsWinField Adds AkerScout App to Answer Tech
June 27, 2017
As farmers and retailers, we know it’s important to have the latest news and insights about tools that can make Read More
Data ManagementCDMS Announces SeedIQ Acquisition
June 26, 2017
Crop Data Management Systems, Inc., (CDMS) announces the acquisition of SeedIQ as part of its growth plan to provide complete Read More
Cotton closeup
Imagery/SensingCotton Growth Management with Precision Agriculture
June 20, 2017
A cotton crop presents some important differences to other commodities that are widely produced in Brazil, such as soybean and Read More
Corn Field
Industry NewsCNBC: Inside Amazon’s Whole Foods Takeover
June 20, 2017
Amazon’s takeover of Whole Foods sent the stock of competing grocery chains plummeting. To understand why, you need to know Read More
DronesNavigating a New World: Drone Technology in Agriculture…
June 20, 2017
My first exposure to unmanned aerial vehicles (UAVs) was as a master’s student at Kansas State University. I was researching Read More
Precision Ag Innovation Series
EventsInnovation Series Agenda Zeroes In On Maximizing Key Se…
June 14, 2017
In a recent survey of service providers conducted by PrecisionAg® Professional magazine, more than seven in 10 indicated that variable Read More
Soil Scientists
Data ManagementAccessing USDA Soil Data for Precision Farming
June 13, 2017
Many precision farming websites have integrated the USDA NRCS soil survey database using the USDA Soil Data Access web portal. Read More
GEOSYS In-Season Imagery
Decision Support SoftwareGeosys Announces Imagery and Weather Data Offering
June 13, 2017
Geosys, a provider of agronomic decision support tools, today launched Geosys Labs, a new program that will make its global Read More
PrecisionAg Vision Conference
EventsPrecisionAg® Vision Conference: Focused on the Future
June 13, 2017
PrecisionAg® is pleased to announce the return of its PrecisionAg Vision Conference, October 10-12, 2017. Based on overwhelmingly positive response Read More
Decision Support SoftwareMyriad Mobile Raises $1.5 Million to Launch New Ag-Tech…
June 12, 2017
Myriad Mobile, a software technology company focused on mobile and web applications, has raised $1.5 million in a Pre-Series A Read More
center-pivot-irrigation-drop-sprinklers-on-corn
Variable Rate ApplicationVariable-Rate Fertigation Can Be Simple
June 12, 2017
A rule is a rule is a rule, right? Well, not always. Sometimes, rules are meant to be changed. Most Read More
Gavin Newsom Forbes AgTech-Summit
ProfessionalsAgTech Summit Aiming High for Modern Farming Solutions
June 12, 2017
THRIVE AgTech, in partnership with SVG Partners and Forbes, is hosting the third annual Forbes AgTech Summit June 28-29 in Read More
Sensors/IoTLeveraging IoT to Improve Data Collection for Agricultu…
June 12, 2017
Between population growth and climate change, farms of all sizes are being challenged to increase yields. Internet of Things (IoT) Read More
DronesAg Drone Update: The Hunt for 1,000 (OPINION)
June 10, 2017
Having obtained my FAA Part 107 Commercial Drone Operators license back in September of last year, I’ve spent the past Read More
Industry NewsMergers & Acquisitions: Land O’Lakes Tosses E…
June 9, 2017
Land O’Lakes has made a minority equity investment in EFC Systems, an ERP (Enterprise Resource Planning) and precision solution provider Read More
Mixmate-featured-image
Decision Support SoftwareHandy Software, Hardware for the Field
June 7, 2017
More than two decades ago, Iowa grower Doug Applegate wished for a “little portable chemical blending system” that could easily Read More
Decision Support SoftwareHarnessing A Team To Build Your Own Software
June 7, 2017
What’s a powerhouse retail network to do when it can’t find a software system to meet incredibly diverse needs? Build Read More
Tim Ferrell Marshall County Co-op
Decision Support SoftwareWhen It’s Time To Switch Software
June 7, 2017
No one in their right mind wants to change software. That’s the opinion of Tim Ferrell, manager of Marshall County Read More