A young start-up from Ticino, xFarm Technologies has just raised 36 million euros to accelerate its global expansion and develop its agritech services on several continents.
The Ticino-based start-up xFarm Technologies announces a new fundraising round, with the closing of a round of 36 million euros. Now presenting itself as a European agritech company, with subsidiaries in Italy, Spain, Germany, France and Poland, xFarm intends to accelerate its expansion in Europe, Turkey, Latin America, India and the United States and further develop its services , in particular by adapting them to the requirements of specific markets and customers.
This latest funding round follows the series B of 17 million euros in 2022 and an initial financing of 3 million euros in 2019. Last April, this Swiss agritech flagship announced the integration into the within its teams at Greenfield Technologies, a Spanish company specializing in regenerative agriculture, and SpaceSense, a French company specializing in geospatial artificial intelligence. xFarm explains that these operations have consolidated its position as European leader in the digitalization of the agri-food sector.
For farmers and food manufacturers
xFarm publishes a farm management information system (FMIS, for Farm Management Information Systems). xFarm’s proprietary platform promises to make it easier to manage the needs of farmers, machines and everyone in the agri-food supply chain, tapping into artificial intelligence for data analysis.
xFarm offers a comprehensive application, which provides information (among other things via aerial view maps) and historical data for managing plots, crops and machines, tracking activity status, or even monitoring soil characteristics. Using sensors and satellite images, xFarm also provides advice to optimize irrigation, treatments and fertilization. An analytics solution used by food manufacturers such as Barilla or Kraft Heinz makes it possible, for example, to aggregate data from each field and each treatment to discover macro-trends in the supply chain of supplier farmers equipped with the xFarm app. The objective is also to use farm data to obtain a calculation of the environmental impact for each plot.
