Bushel, a US-based provider of software tools for the grain production industry, completed a $47m series C round yesterday co-led by agribusiness Continental Grain Company and investment firm Lewis & Clark AgriFood.
The round also featured agribusiness Cargill, agricultural supply chain services provider Scoular, Germin8 Ventures and undisclosed others. The company said it expects to add funding from grain transportation and storage services provider Consolidated Grain and Barge in the coming weeks.
Bushel provides cloud-based software tools for companies operating in the grain supply chain, including farmers, distributors and agricultural retailers. It offers a cash-bid-and-offer management platform for agriculture businesses, a web development tool and a mobile app where information can be shared with crop producers.
The platform was built by enterprise software developer MyriadMobile, which later rebranded to Bushel in June 2019. The funding will enable the company to add payment, credit, trading offerings and increased data services to its product range.
Continental Grain led Bushel’s $19.5m series B round in December 2019, investing together with Lewis & Clark AgriFood, Germin8 Ventures and unnamed backers. It had previously raised $7m from undisclosed investors in 2018.
Gen7 Investments, a subsidiary of media company Forum Communications, led a $1.5m seed round for the company the year before that included livestock data software provider MetaFarms, Falls Angel Fund, HA Dahl Family and Thoreson Steffes Trust Company, following $800,000 of earlier funding from unnamed investors.