Swiss agtech startup xFarm Technologies, which focuses on digitalisation of the agri-food sector, has landed €36 million in Series C funding. This follows the €17 million Series B funding raised back in 2022.
The new round was led by global technology investment firm Partech through its Impact Growth Fund, and saw the participation of Mouro Capital (which backed Skyflow and Kriya), a London-based venture capital firm. Swisscom Ventures, United Ventures, and all previous institutional investors also participated in the round.
Growth and expansion plans
The capital raised in this Series C round will enable it to consolidate its leadership in Europe and accelerate its expansion throughout the rest of the continent, as well as in LATAM, India, Turkey, and the US, where it has already started to strengthen its presence through new hiring and strategic partnerships. xFarm Technologies also intends to improve its performance, develop its services further, and tailor them to the needs of specific markets and customers.
“We are truly delighted to partner with one of the leading AgTech companies in the world,” said Rémi Said and Arnaud Minvielle, General Partners at Partech. “We believe that xFarm Technologies, with its best-in-class technological horizontal solution, its innovative route to market, its deep understanding of the farmers’ needs and its global footprint, has all the elements to become the global leader in farm management software and a critical player in the agricultural value chain transition. We are very proud and honoured to embark on this journey with xFarm Technologies and its very talented team.”
“As traditional fintech investors, we feel that xFarm Technologies’ vision to digitalise the agricultural sector concurs with their product being a great entry point to serve their clients’ financial needs,” added Manuel Silva Martínez, General Partner at Mouro Capital. “We are excited to support Matteo and the team in expanding their vision into our core area of expertise.”
How was the idea born?
In 2017, co-founder and CEO Matteo Vanotti was looking for a technology solution to manage his family farm. American-style software was not suited to the needs of small European farms, and local providers were unintuitive and very limited. So he and the other co-founders of xFarm Technologies developed a platform tailored to his needs.
The platform proved so attractive that neighbours and friends began using it in turn. It became clear that what they had created was a new tool that deserved to be extended to all farmers seeking simplicity and efficiency.
AI technology to help farmers
xFarm Technologies offers apps for farm management, connected sensors, support in digital transformation projects, algorithms applied to agriculture and training activities for the whole sector.
It uses in-field sensors to provide farmers and other agricultural enterprises with a platform that collects and analyses data from all over the farm. This data includes, among other things, information on pests, weed growth, irrigation requirements, and financial issues.
By combining AI technologies with its deep agronomic knowledge, the company supports the work of over 450,000 farms belonging to more than 100 supply chains on 7 million hectares in more than 100 countries worldwide.
xFarm acquired Greenfield Technologies, a Spanish company focused on Regenerative Agriculture, and French geospatial AI player SpaceSense in April 2024, making it the European leader in the digitalisation of the agri-food sector.
“This is a time of profound change and major challenges for the global agri-food industry. At xFarm Technologies, we want to continue to provide the most advanced and effective tools to navigate this landscape, with further investment in R&D and innovation, cutting-edge technologies in climate intelligence and AI for agronomic support, and a focus on sustainability and Regenerative Agriculture,” said Matteo Vanotti, CEO of xFarm Technologies. “We are excited to announce this funding round and are proud to have world-class partners like Partech, Mouro Capital and all the other investors who have placed their trust in us. With their support, we will continue to innovate, driving digitalisation from a supply chain perspective and helping farmers to manage their farms even more effectively and sustainably.”
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