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FBN is an advocate for family farmers and ranchers and is committed to the premise that true price transparency levels the playing field for farmers regardless of geography or size.
Fremont, CA: Farmer’s Business Network, Inc. (FBN), the leading direct-to-farm agtech platform and farmer network, raised $250 million in Series F funding. The round was led by funds and accounts managed by BlackRock, with participation from new investors Baron Capital Group, Balyasny Asset Management LP, Mandi Ventures, Lupa Systems, and Ron Shaich.
Existing investors DBL Partners, Temasek, funds, and accounts advised by T. Rowe Price Associates, Inc., GV, Expanding Capital, and Kleiner Perkins also took part in the funding. Certain funds managed by Fidelity Investments Canada ULC and affiliates also participated in the financing.
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FBN will use the capital to expand its Farmers First℠ FBN Direct℠ range of best value, direct-to-farm inputs including seed, crop protection, and biologicals, which help farmers reduce their production cost. It will also invest in building its suite of cutting-edge FBN Crop Marketing and Financial Services solutions that help farmers maximize the value of their crops.
“Our mission as a company is to improve the profitability of farming families around the world for generations to come. Many farmers and ranchers were already struggling before the disruption and financial challenges brought on by the pandemic,” said Amol Deshpande, FBN Co-Founder, and CEO. “We will double down on putting farmers first by further investing in technologies that lower costs, improve transparency and create local community development opportunities in rural areas.”
FBN is an advocate for family farmers and ranchers. It is committed to the premise that true price transparency levels the playing field for farmers regardless of geography or size and enhances competition at the manufacturing, wholesaling, and retailing levels by providing timely and transparent pricing on crop protection products, biologicals, seeds, technology, and services, as well as ecommerce purchasing and financing options, FBN arms farmers with the tools they need to make the best decisions for their business, their families and the planet.
FBN’s emerging Crop Marketing and Financial Services (“CMFS”) platform provides the most technologically sophisticated platforms to help manage risk or get vital financial services such as insurance or loans. The CMFS platform is also building robust capabilities around sustainability opportunities that are already resulting in premiums and incentives for farmers who participate in land stewardship.
FBN continues to grow its membership and now has over 12,000 members who farm over 40 million acres across the US and Canada. FBN last month announced the launch of FBN in Australia following the acquisition of Farmsave, a leading Australian agtech company.
“We intend to work with our farmer customers globally to help bring more products and services to market that benefit their P&L, as well as the communities around them,” Deshpande said.
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