Flyover Capital, a Kansas City venture capital firm that aims to boost the Midwest tech scene, sold a startup for $63 million recently, according to the city’s Startland News tech site. Flyover’s Keith Molzer told Startland News that the sale came from Agrible, an agriculture startup based in Illinois, which marks the venture firm’s second portfolio sale since it was founded in 2014.
“We are excited for the Agrible team,” Molzer told the site. “They have worked diligently to build a great company and having Nutrien acquire the company is a great testament to their team and the technology they have built.”
Flyover has invested in more than a dozen companies in Midwestern states like Kansas, Missouri, Illinois, and Indiana, among others.
For its part, Agrible is a platform that functions off of a predictive analysis technology to provide farmers and agricultural scientists with needed advice and data. Flyover helped with three investment rounds into Agrible.
“This is a great win for the Midwest and further validates Flyover’s goal of helping create the next generation of technology success story in flyover country,” Molzer told Startland. “This exit provides a substantial return for the investors in Flyover Capital as well. As a first-time fund, we focus on finding early-stage technology companies that we can help grow and utilizes the natural resources in the region. In Agrible’s case, being in the heartland and close to the University of Illinois provided them access to the best ag tech talent and helped them accelerate their growth. It is a testament to the region, as Nutrien is keeping the Agrible team in Champaign, Illinois.”
