Just a year after securing $1 million in seed funding, Michigan-based FarmLogs is announcing a $4 million Series A led by Drive Capital. The company says it is looking forward to a big 2014 and the co-founder and CEO tells me the company will use the influx of cash to execute on an aggressive product growth plan for the upcoming year.
Jesse Vollmar, CEO and co-founder of FarmLogs, explained to me that the company is building out its product to intelligently predict and optimize crop rotations as well as automate activity data collection. FarmLogs is also looking to ingest data collected by modern farming equipment that he tells me traditionally is rarely exported. By using low-cost Bluetooth hardware, the company expects to be able to analyse and upload this data in real time.
The Y Combinator alum touts the fact that 5% of farms in the US. are currently using its software. It’s an impressive stat considering the startup just graduated from YC in early 2012…Read Original Article