In 2022 the company had raised 17 million in Series B.
Partech leads the operation
Agritech startup xFarm Technologies has closed its €36 million Series C round. The operation was led by investment firm Partech, through its Impact Growth Fund. In 2022, it had raised €17 million in Series B.
What xFarm Technologies does
As stated on the website, xFarm Technologies is «a tech company that aims to digitize the agri-food sector, providing innovative tools that can support agricultural entrepreneurs and stakeholders in managing their companies». In terms of numbers, the startup helps 450 thousands of companies in the sector in over 100 supply chains around the world. Its product is the xFarm digital platform, a Farm Management Information System (FMIS). The team has more than 100 people.
“This is a time of profound change and great challenges for the global agri-food industry – commented Matteo Vanotti , CEO of xFarm Technologies -. We are excited to announce this funding round and we are proud to have world-class partners such as Partech, Mouro Capital, and all the other investors who have placed their trust in us”. Before the 2022 Series B, this reality had raised 3 million euros in 2019.
With the new resources of the Series C, xFarm Technologies aims to grow in various markets, strengthening itself in Europe, India, and the United States. As reported on EU Startups, the company is based in Manno, near Lugano (Switzerland), and is the result of the merger, in 2021, of xFarm and Farm Technologies. The company wants to support its partners and customers in the implementation of regenerative agriculture practices on a large scale, also exploiting Artificial Intelligence solutions.
Source: Startup Italia