Private equity-backed precision agriculture company, Farmers Edge, has partnered with farm equipment dealer Moody’s to expand the company’s sales presence in Western Canada.
Farmers Edge, backed by Mitsui, Kleiner Perkins Caulfield & Byers’ (KPCB) Green Growth Fund and Osmington among others has been executing an aggressive expansion strategy in North America, Brazil and Australia.
The is part of a wave of precision agtech companies offering advanced monitoring and analysis of variety of factors that affect farm outputs. Investors have told Agri Investor that agtech start-ups have been slow to develop partnerships with established farm equipment dealers, hoping to reach farmers directly. However, experts that work closely with growers have said that traditional distribution networks remain the best way to reach producers wary of agtech products.
“Moody’s has proven expertise in equipment and strong, established relationships with growers, and we’re proud to join forces to provide their customers with access to the leading Precision Ag technology and data solutions,” said Farmers Edge president and chief executive Wade Barnes.
Advances in data collection and analysis have increased demand for agtech products among producers who are eager to increase yields and lower input costs, said Moody’s chief executive Kim Leland.
“The agriculture industry is evolving, and technology is playing a larger role in day-to-day operations. This partnership signals our commitment to innovation and technology,” he said.