Serra Capital III announced that it has invested in its 11th company, FarmLead. FarmLead is a digital marketplace that allows buyers and sellers to list, negotiate and finalize grain deals. Available online and as a mobile app, FarmLead increases market reach, provides 24-7 access and reduces brokerage fees. The FarmLead Marketplace facilitates greater efficiency in grain marketing. Farmers find more buyers and identify the best possible deal, while grain buyers easily identify the grain for sale in their desired location.
The investment is part of a $6.5M Series A round led by Monsanto, and also includes Canadian agtech venture capital firm Avrio Ventures and Canadian government-backed commercialization agent MaRS Innovation Accelerator Fund. With this round of funding, FarmLead is expanding to the US where 5% of its customer base are already based. It is opening a headquarters in Chicago and already starting to hire new personnel to fill it. The funding will also go towards building out new product capabilities such as enabling payments through the platform.