Invested Development Invests in OnFarm Systems to Improve Decision-Making on the Farm
FOR IMMEDIATE RELEASE
June 19, 2013
Boston, MA & Fresno, CA – Invested Development (ID), an early stage investment fund manager, has invested in OnFarm Systems, an agriculture technology startup. OnFarm offers an innovative SaaS solution that increases farm productivity and profits. OnFarm’s technology combines multiple data sources into one user-friendly, cloud-based dashboard to make decision-making on the farm easier.
Growers are rapidly adopting precision agriculture hardware, but it’s difficult to capitalize on potential efficiency gains because the data exists in silos. OnFarm solves this problem by integrating data from multiple hardware vendors into one intuitive dashboard. It allows systems to work together, providing benefit to both the grower and the hardware companies. OnFarm is building a strong network of partners to ensure growers have access to a valuable and comprehensive solution.
The investment comes from the BSP Fund, ID’s equity fund focused on investing in ICT, alternative energy, and agriculture technology solutions for underserved markets. Due to demographic shifts and limited resources, growers need to prioritize efficiency and preserve quality in order to stay competitive and meet the growing demand for food. OnFarm allows farmers to do exactly that.
OnFarm joins ID’s BSP Fund portfolio of eleven companies across Africa, India, Latin America, and the U.S. The company is the first agriculture technology investment in the portfolio operating in the U.S.
About Invested Development:
Invested Development is an impact investment fund manager. The mission of the company is to provide risk capital investments in early stage startups with mobile technology, agriculture technology, and alternative energy innovations for underserved markets. It manages the BSP Fund, an early stage equity fund, and the Impact Factoring Fund, a working capital fund. For more information, visit http://www.
About OnFarm:
OnFarm is the first company to deliver a cloud based software system that works with established agriculture hardware or information companies to provide farmers with a complete system of vital agronomic information; soil, plant, atmospheric, operational, and equipment conditions. Accessible in the office or the field on nearly any device, OnFarm’s decision support system enabling farmers to increase profit while maximizing key inputs such as nutrients, water, labor, and energy. For more information, visit http://www.