In Ontario, FarmLead received $6.5 million in investments led by Monsanto Growth Ventures and joined by Avrio Ventures, the MaRS Investment Accelerator Fund and Serra Ventures. This funding round supports FarmLead’s expansion into the U.S. market and opening of its U.S. headquarters in Chicago.
FarmLead allows farmers to post their bids online or engage directly with farmers who have listed their grain for sale. The product line includes an innovative forward contracting service that will allow growers to sell to interested buyers based on forecasted grain yields – enabling better financial management of farm operations.
“This investment signals the appetite for a solution that accelerates the rates of commercial grain marketing transactions,” says FarmLead CEO and Co-Founder, Brennan Turner. “Our ability to increase deal flow for farmers, enabling them to negotiate better prices and other key trade terms online, allows farms to take ownership of their grain production and marketing lifecycle.”