Funding Round attributes
xFarm Technologies, a Swiss-Italian agritech company, has raised €36 million in a Series C funding round led by Partech and Mouro Capital. Founded to support the agricultural industry with digital solutions, xFarm’s platform enables farmers to manage various aspects of their operations, from tracking expenses to integrating data from sensors and satellites to improve efficiency. The platform currently serves 450,000 farms across Europe. With the new funding, xFarm plans to further expand its services, including offering loans and insurance to farmers, and aims to extend its operations into new markets like Brazil and India.
The company has grown significantly since its founding, particularly through its acquisitions of Greenfield Technologies and SpaceSense, which have enhanced its capabilities in soil health and satellite data. xFarm's CEO, Matteo Vanotti, emphasized the growing demand for digital tools in agriculture, driven by a generational shift among farmers and the increasing impact of climate change on farming practices. Vanotti also highlighted the need for rapid adaptation in agriculture, pointing out how climate change is altering growing conditions in Europe, such as in Sicily, where warmer temperatures are shifting crops like grapes to tropical fruits like mangoes and avocados.
This funding round follows a €17 million Series B in 2022 and a €3 million round in 2019, marking a significant step in xFarm’s journey to becoming a leading digital tool provider for the agricultural industry.
