AmTrust Backs Ag Tech Company Farmobile in Series B
Overland Park-based farm data company Farmobile announced it has raised $18.1M in a Series B round, bringing its total funding to date to $23.6M. Anterra Capital, and AmTrust Agriculture Insurance Services participated in the round.
The company was founded in 2013 by Jason Tatge, whose grandfather was a farmer and has previously told him “Jason, don’t be a farmer”, because everyone takes from a farmer and no one gives….Until Farmobile came along and unlocked the potential of farmers’ data. The company’s technology considered ‘plug and plant’ offers real-time data on farmers’ equipments. There’s also a Farmobile dashboard that can turn one’s machines to storytellers by offering data on speed, planting, spray rates, and crop yields.
This ‘data-as-a-service’ is made possible due to a series of tools and subscriptions sold by Farmobile. Look.
The news follows the investment in Agrible, a Champaign-based farm-monitoring service, that has announced a $9.7M Series B in September.
Bottom Line: farmer power.
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The Securities and Exchange Commission today charged international insurance company AmTrust Financial Services Inc. and its former CFO Ronald E. Pipoly Jr. with failing to disclose material facts about how the company estimated its insurance losses and reserves. They have agreed to pay a combined $10.5 million to settle the SEC’s charges.