New Startup Oaken Announces Launch; Giving Agribusinesses an All-in-One Platform for Farmland and Lease Management
Oaken is second announced startup to be launched from the DIAL Ventures’ studio program, which delivers innovative digital solutions to the agri-food industry
WEST LAFAYETTE, INDIANA, UNITED STATES, August 15, 2023/EINPresswire.com/ -- DIAL Ventures, a Purdue University Next Moves initiative, working in partnership with High Alpha Innovation, is announcing the launch of a new portfolio company, Oaken. Oaken aims to digitally connect farmers to all their stakeholders like lease processors, insurance companies and banks, starting with the landowner.
Farmland in the U.S. is disappearing at the rate of millions of acres every year. Forty-seven million acres of farmland have permanently been lost over the last 20 years, a size equivalent to New York state, according to the USDA's Farms and Land in Farms 2022 Summary. Even more shockingly at the current trend, the U.S. will continue to lose 20 million acres of farmland over the next 20 years. This loss not only creates challenges for our food security, but also environmental stability, as farmland absorbs close to a billion tons of CO2 annually. Oaken’s mission is to stem this trend by connecting farmland to its best stewards, the farmer, and keeping farmland productive and secure for the years to come.
Farmers spend $30B leasing this land from landowners in the U.S., yet this high value and critical relationship is managed manually through a combination of worksheets, files and repositories to keep on top of things. This leads to wasted time, missed dates and a state of unpreparedness when the transition conversation comes about.
By using Oaken, farmers and farmland managers will be able to manage all aspects of a farmland lease.
WEST LAFAYETTE, INDIANA, UNITED STATES, August 15, 2023/EINPresswire.com/ -- DIAL Ventures, a Purdue University Next Moves initiative, working in partnership with High Alpha Innovation, is announcing the launch of a new portfolio company, Oaken. Oaken aims to digitally connect farmers to all their stakeholders like lease processors, insurance companies and banks, starting with the landowner.
Farmland in the U.S. is disappearing at the rate of millions of acres every year. Forty-seven million acres of farmland have permanently been lost over the last 20 years, a size equivalent to New York state, according to the USDA's Farms and Land in Farms 2022 Summary. Even more shockingly at the current trend, the U.S. will continue to lose 20 million acres of farmland over the next 20 years. This loss not only creates challenges for our food security, but also environmental stability, as farmland absorbs close to a billion tons of CO2 annually. Oaken’s mission is to stem this trend by connecting farmland to its best stewards, the farmer, and keeping farmland productive and secure for the years to come.
Farmers spend $30B leasing this land from landowners in the U.S., yet this high value and critical relationship is managed manually through a combination of worksheets, files and repositories to keep on top of things. This leads to wasted time, missed dates and a state of unpreparedness when the transition conversation comes about.
By using Oaken, farmers and farmland managers will be able to manage all aspects of a farmland lease.