FarmLogs was featured today on Forbes.com. FarmLogs, from YC W12, is a company I previously mentioned after they raised a million dollars from Huron River Ventures and Hyde Park Venture Partners. FarmLogs is unique for a few reasons.
The company started as a project to help the community while the founders were attending Saginaw Valley State University in Michigan. So they have domain expertise in their market. Additionally, the team wisely chose to remain in the midwest after completing Y Combinator. The money recently raised is also from VC’s outside of Silicon Valley that understand the industry. Hyde Park Venture Partners is a Chicago firm that invests seed money in Midwest-based startups. Huron River Ventures only invests in early-stage Michigan-based companies solving global problems like energy, cleanweb, and transportation.
Agriculture employs more than a third of the global workforce. Y Combinator has not previously invested in any companies solving farming problems that I know about. I believe the agriculture technology market is ripe for disruption with lots of opportunity for innovation. Bill Gates and Carlos Slim seem to agree with me. So hopefully we’ll hear about more YC-funded companies like FarmLogs.