The Kansas company makes data collection units for farm equipment to help farmers gather crop and field data.
Farmobile’s “Farm Data Marketplace” includes legal agreements and privacy protections to let farmers sell that data securely.
The Marketplace includes data from 4,200 field records from 11 countries. The big prize is crop insurance reporting, which is required under the U.S. Federal Crop Insurance Program, a public-private partnership that insures 86% of all U.S. farmland.
Better data collection would allow for some of the reporting to be automated, saving time and money for insurance agents and farmers, says Jeffrey Fenster at AmTrust, one of 16 federally approved crop insurance providers and an investor in Farmobile’s $18 million Series B equity round.
Dutch agriculture tech venture capital firm Anterra Capital and private investors from Kansas also participated.
