After initiating a first close of $100,000 in December on a $300,000 financing round, Agralogics disclosed raising an additional $80,000 and increasing the round to $2 million. The non-brokered mezzanine offering was placed with six investors thus far. The offering’s expected net proceeds will amount to $1.94 million which excludes $60,000 to be paid toward officers’ salaries.
The company develops a big data visualization and analytic platform for the agriculture market. Agralogics combines pixelated geospacial data with a predictive analytic platform to produce visualizations and insights to drive decisions. The company’s first product is called Forensics Logic which allows post season analysis of a farm. The user just needs to draw the fields owned and the application will compile satellite imagery, soil, weather and crop phenology*. The user can elect to provide more data such as water, chemicals used and crop yield to enhance the analysis.
Sumer S. Johal (Founder and CEO) leads the Walnut Creek CA based company. Agralogics was registered in 2013. Agralogics elected to keep its revenues undisclosed. The executive team includes: Sanjay Dayal (Co-founder and CTO), Michael MacDonal (Data Strategy), David Sypniesky (Sales and Marketing) and Mark Linder (Business Development).
Status: Second close
Industry: Other Technology
Amount offered: $2 million
Amount placed: $180,000
First Sale: 12/31/13
*Phenology is the study of periodic plant and animal life cycle events and how these are influenced by seasonal and interannual variations in climate.