MMW learned Tuesday that Myriad Mobile, a software technology company focused on mobile and web applications, has raised $1.5 million in a Pre-Series A funding round to launch a new ag-tech product for the grain industry.
With this investment, Myriad has raised a total of $2.3 million, having previously raised $800,000 in seed funding.
This round also brings together strategic partners in the agriculture and technology sectors who share Myriad’s vision and market opportunity for their new product and expertise in the space.
Gen7 Investments, the investment arm of ag media giant Forum Communications, is the lead investor on the round–joined by tech savvy and Sioux Falls-based, Falls Angel Fund; international agribusiness entrepreneur-led, HA Dahl Family LLLP; independent and Fargo-based, Thoreson Steffes Trust Company and global livestock production software company, MetaFarms. The investment will be used to build-out Myriad’s market strategy, for new product development and expansion of its ag-tech team.
“Myriad has a driven and intuitive team, with strong roots in agriculture,” said Bill Marcil, Jr., President, CEO and Publisher of Forum Communications, Agweek and Gen7 Investments. “They have identified a real need in the ag space and have done the hard work to fill it. We’re excited to give them the boost they need to leverage this new technology for the grain industry and bring it to market.”