{"id":3944,"date":"2017-03-07T22:01:27","date_gmt":"2017-03-07T22:01:27","guid":{"rendered":"https:\/\/www.rsoftsolution.com\/blog\/farmers-business-network-cultivates-40-million-to-help-farmers-buy-seeds-at-favorable-prices.html"},"modified":"2017-03-07T22:01:27","modified_gmt":"2017-03-07T22:01:27","slug":"farmers-business-network-cultivates-40-million-to-help-farmers-buy-seeds-at-favorable-prices","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/farmers-business-network-cultivates-40-million-to-help-farmers-buy-seeds-at-favorable-prices.html","title":{"rendered":"Farmers Business Network cultivates $40 million to help farmers buy seeds at favorable prices"},"content":{"rendered":"


\n<\/p>\n

GV (formerly known as Google Ventures)<\/a> and DBL Partners<\/a> co-led a $40 million investment in Farmers Business Network Inc.,<\/a> the company announced on Tuesday. FBN started out as something of a professional network for farmers and other agronomists. It allowed people working in agriculture to anonymously share information about what they were paying for seeds, fertilizers, and other \u201cinputs\u201d that they need to raise healthy crops. It also allowed them to exchange information about the effectiveness of all of these products.<\/p>\n

Bringing crowdsourced, price transparency and product information to the industry would help farmers negotiate for fair prices, FBN founder Amol Deshpande <\/a>believed. The company claims to be saving farmers up to 50% on all the inputs that they buy through the site\u2019s service FBN Direct today.<\/p>\n

Formerly known as FBN Procurement, FBN Direct allows users to buy 500 different farm chemicals, fertilizers, seeds and seed treatments, at prices they set themselves. They tell FBN what price they are willing to pay, and then the tech startup\u00a0goes out to attain what they need at that established price. Farmer-members of FBN can\u00a0opt to\u00a0pick up their supplies\u00a0at a nearby warehouse, or have them shipped to their farm.<\/p>\n

Along with GV and DBL Partners, investors in FBN\u2019s Series C round of funding included Bow Capital and FBN\u2019s earlier backers, Acre Venture Partners and Kleiner Perkins Caufield Byers (KPCB). Venture capitalists have increasingly plowed funding into agriculture tech deals ever since the sale of Climate Corp. to Monsanto<\/a> for about $1 billion in 2013. The presence of large, acquisitive companies and the uptake of technology like drones, robotics and sensors by farmers are all driving the investment trend.<\/p>\n

The new funding for\u00a0FBN brings the company\u2019s total capital raised to $88 million. Last summer it announced a $20 million round<\/a> led by Acre.<\/p>\n

<\/p>\n

Featured Image: AnneCN<\/a>\/Flickr<\/a> UNDER A CC BY 2.0<\/a> LICENSE<\/small><\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/XJ7VLwD8PQQ\/<\/p>","protected":false},"excerpt":{"rendered":"

GV (formerly known as Google Ventures) and DBL Partners co-led a $40 million investment in Farmers Business Network Inc., the company announced on Tuesday. FBN started out as something of <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-3944","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t