Kansas City-area venture capital firm Flyover Capital is continuing its first quarter investment tear.
Leawood-based Flyover recently added the fifth company to its portfolio, joining other investors in a $4.1 million Series A round to fund Agrible, an Illinois-based ag tech startup. Flyover has extensive agriculture experience and shares Agrible’s belief in growing the Midwest tech sector, which helped lead to a deal.
“The Flyover team’s experience and expertise in agriculture brought us together,” Agrible CEO Chris Harbourt said. “Their excitement, interest, and network are a catalyst to Agrible’s growth. … Flyover Capital’s active investment in Midwest companies and their excitement in ag technology positions them as a leader that we are proud to be associated with.”
Harbourt said Flyover was a “significant” investor in the round, which was led by Serra Ventures, based in Champaign, Illinois. Agrible created analytics tools that help farmers and ag companies make farming decisions. The company’s flagship product, Morning Farm Report, delivers data and forecasts on fieldwork logistics, yield predictions, rainfall, crop health and more.
“They have an exceptional team and a deep understanding of the tech-enabled agriculture space and how to execute on their business model,” Flyover general partner Keith Molzer said. “They are leaders in the industry and have developed several key industry partnerships that will help them capture the market for their suite of solutions. The company is based in the heartland of the U.S. and has a global market opportunity as well.”
Founded in 2014, Flyover was acquired by Leawood-based Mariner Holdings later that same year. Flyover was founded by Tom DeBacco, Molzer, Michael Peck and Thad Langford with the mission to “create the next generation of technology success stories in the Flyover region.”
Flyover’s investments range from about $500,000 to $3 million. Before Agrible, the firm’s most recently investment was in Overland Park-based ClaimKit, an insurance tech startup. Flyover has also invested in Olathe-based Innara Health, Lincoln-based BuluBox and Lincoln-based Opendorse.