New York, NY and Fresno, CA (PRWEB) April 10, 2014
OnFarm, a Fresno, CA based agtech company part of a wave of new technologies revolutionizing farming, and AgFunder, a New York and San Francisco-based online equity crowdfunding platform for agriculture and agtech opportunities, today announce the successful close of OnFarm’s $800k raise on the AgFunder platform. The raise, which closed at the top of its range, is AgFunder’s first crowdfunding campaign, and will help OnFarm expand its distributor network.
Lance Donny, CEO of OnFarm said, “This has been a great opportunity to demonstrate the strength of investor interest in the OnFarm platform as well as the potential for crowdfunding to transform ag finance. The AgFunder team has done a great job of working with us to close this round in only 5 weeks, which lets us stay focused on our customers and business.”
OnFarm provides information to farmers that allows them to calibrate their water or fertilizer inputs for precise growing conditions. This translates into higher margins and less resource depletion, something the ag sector is keenly watching in an era of tight water supply and higher costs.
“We’ve been following OnFarm since we first built the AgFunder platform and see them as a leader in integrating technologies that will generate real returns for farmers and accredited investors who have registered on the Agfunder platform. They’re a solid team, and their campaign generated strong interest with investors that allowed us to close at the top of their targeted fundraising. We look forward to working with more entrepreneurs of Lance’s calibre and think we have an exciting pipeline of opportunities ahead, “ said Rob Leclerc, AgFunder’s CEO.
AgFunder is one of a number of crowdfunding platforms that have launched since the passage of the JOBS Act, which expands the opportunities for companies to market to accredited investors, and is the only platform dedicated to the ag vertical. Launched in beta only 9 months ago, AgFunder has accumulated over $1bn in dealflow.
About AgFunder: AgFunder is the world’s first equity crowdfunding platform for ag and agtech opportunities. Developed by experienced agribusiness professionals, AgFunder brings together promising investment opportunities and committed investors. Visit http://www.agfunder.com.
About OnFarm: OnFarm is a data organization and visualization company that inputs and digests data for farmers, providing a one-stop-shop platform for farmer’s ease. To date, OnFarm has to date established partnerships with over 20 data providers. Visit http://www.onfarm.com.