Farmers Edge announced that Osmington, Inc., a Toronto-based commercial real estate firm and one of the leading investors in Farmers Edge has exercised a $3.2 million investment option in the growing multinational.
The option comes on the heels of a $58 million raise in January 2016 joined by Osmington and led by additional existing Famers Edge investors Mitsui & Co., Ltd. and Kleiner Perkins Caufield & Byers’ Green Growth Fund. The $3.2 million option will support the growth of Farmers Edge into global markets and fuel its aggressive push into building a world-class data analytics team.
Osmington has traditionally focused on real estate investment, and Farmers Edge represents the company’s only technology investment to date. Osmington began investing in farmland four years ago as a non-correlated asset class and looked to Farmers Edge in 2015 as a technology investment that provided farmers with a simple solution to manage expenses and improve yields with field-centric data. The growth of big data for precision ag analytics has since emerged as an increasingly important value-add investment component with applications across broader market verticals.
“Farmers Edge is our first investment in a technology company and it’s a result of their great team matched with a proven, easy to use technology that will have a disruptive impact on the agricultural industry. Farmers Edge helps farmers increase their ROI by allowing them to make informed decisions using the Farmers Edge technology platform,” said Lawrence Zucker, President and CEO of Osmington. “As our interest in farming grows, it’s clear that access to field-centric data will ultimately add value to the entire agricultural industry, including seed companies, fertilizer companies, and even commodity traders who want to know what is happening in the fields before others.”
Easily integrated with growers’ existing equipment and programs, the Farmers Edge Precision Solutions package provides a comprehensive turnkey system that includes: Variable Rate Technology, soil sampling and analysis, field-centric weather, in-field telematics and data transfer, high-resolution satellite imagery, field-centric data analytics, access to FarmCommand – an integrated farm management platform – and a network of highly experienced, trusted advisors.
“Farmers continue to seek better tools to enable increased yields and profitability while achieving sustainable growing practices for a range of crops in diverse geographic regions around the world,” said Wade Barnes, President and CEO of Farmers Edge. “Osmington’s increased commitment to Farmers Edge will enable further development of easy-to-use technologies that leverage new levels of data for advanced precision agronomy.”