AGI to acquire minority stake in venture-backed Farmobile
Ag Growth International Inc (TSX: AFN) (AGI) has agreed to make a minority investment of US$15 million in Farmobile Inc, a Leawood, Kansas-based agriculture technology company. AGI, which also entered into a new strategic commercial agreement with Farmobile, will have the right to appoint two directors as a result of the deal. Founded in 2013, Farmobile provides hardware and software for the real-time collection, organization, analysis and storage of farm data. Its other investors include European venture capital firm Anterra Capital. Based in Winnipeg, AGI is a provider of equipment solutions for agriculture bulk commodities.
17 July 2019•3 mins read
