XFarm Technologies, a tech company that supports the work of 450,000 farms belonging to more than 100 supply chains on more than seven million hectares worldwide thanks to its xFarm digital platform, Farm Management Information System (FMIS), announces the closing of a €36 million Series C round, which comes after the integration last April of Greenfield Technologies, a Spanish company focused on regenerative agriculture, and SpaceSense, a French company specialising in geospatial artificial intelligence, an operation that has consolidated its position as a European leader in the digitalisation of the agri-food sector.
Leading the new round, which follows the EUR 17 million Series B round in 2022 and the EUR 3 million first round in 2019, the global technology investment firm Partech, through its Impact Growth Fund, which aims to scale European impact technology leaders working to solve environmental and social challenges. The round also sees the participation of Mouro Capital, a London-based venture capital firm pursuing investment opportunities in the growth-stage fintech sector in Europe, North America and Latin America. Also Swisscom Ventures, United Ventures and all institutional investors from previous rounds participated, renewing their trust in xFarm Technologies based on the significant results achieved over the past two years.
The company is already well established in Europe, particularly in Switzerland, Italy, Spain, France, Germany, Poland and the UK. The capital raised through the Series C round will enable it to consolidate its leadership in Europe and accelerate its expansion in the rest of the continent, as well as in LatAm, India, Turkey and the United States, where it has already started to strengthen its presence through a recruitment campaign and strategic partnerships. XFarm Technologies also intends to improve its performance by further developing its services, adapting them to the needs of specific markets and customers.
Sustainability remains a priority for the tech company, which aims to support its partners and customers in implementing regenerative agriculture practices on a large scale, providing them with even more advanced solutions and technologies, and using increasingly innovative tools, such as geospatial artificial intelligence.
Mouro Capital’s participation in this round will be important for the creation of the new Fintech and Insurtech division of xFarm Technologies, which is determined to further develop its services in the field of risk and credit management. This will enable it to offer even greater support on the insurance and financial management side.
“This is a time of profound change and great challenges for the agri-food industry globally. At xFarm Technologies we want to continue to provide the most effective and advanced tools to address this scenario, with further investments in R&D and innovation, cutting-edge technologies in climate intelligence and AI for agronomic support, and with a focus on sustainability and regenerative agriculture,’ says Matteo Vanotti, CEO of xFarm Technologies (pictured with the team), in a note. We are excited to announce this funding round and proud to have world-class partners like Partech, Mouro Capital and all the other investors who have put their trust in us. With their support, we will continue to innovate, pushing digitisation in a supply chain perspective, helping farmers to run their businesses even more effectively and sustainably.”
“We are very pleased to collaborate with one of the world’s leading AgTech players,” commented Rémi Said and Arnaud Minvielle, general partners of Partech. We believe that xFarm Technologies, with its cutting-edge technology solution, its innovative route to market, its deep understanding of farmers’ needs and its global market, has what it takes to be a leader in agronomic management software worldwide, and a key player in the transition of the agricultural value chain. We are very proud, and honoured, to embark on this journey with xFarm Technologies and its highly talented team.”
“As fintech investors we think that the mission of xFarm Technologies, the digitisation of the agricultural sector, coincides with the fact that their product is an excellent entry point to address the financial needs of their clients,’ emphasises Manuel Silva Martínez, general partner of Mouro Capital. – We are excited to support Matteo and the team in expanding their vision in our core area of expertise’.
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