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A good deal of modern farming is being done in the cloud, not just the soil, using data science as well as tractors and combines as tools – at least that’s the way Michigan agricultural technology startup FarmLogs sees it. Since graduating from Y Combinator in 2012, the company claims 15 percent of U.S. row-crop farms have signed up for its cloud-based farming software.
FarmLogs announced on Wednesday that it has closed a $10 million Series B round with contributions from existing investors Drive Capital, Huron River Ventures and Hyde Park Venture Partners as well as new investors SV Angels and Y Combinator President Sam Altman. The round brings its total funding to $15 million.
The company has built a software-as-a-service platform that helps growers can access from their smartphones and use to manage the day-to-day activities of their farms, keeping track of what fields needs to be tilled, planted, watered, fertilized and harvested. It tracks hourly weather patterns, commodity prices and even the maintenance schedules for farming equipment. According to the company, FarmLogs now has more than $12 billion in crops under management in its agricultural cloud.