xFarm Technologies, a Lugano, Switzerland-based tech company focused on the digitization of the agri-food sector, providing innovative tools that can support farmers and stakeholders in the management of their businesses, announced that it raised €17 million in Series B funding.
The round was led by Zürich-based Swisscom Ventures, with participation from Neva SGR (Intesa Sanpaolo Group), Emerald Technology Ventures, NovaCapital, and Grey Silo Ventures. United Ventures, a lead investor of round A, also reinvests significantly due to the tech company’s noteworthy achievements over the past two years.
xFarm Technologies intends to use the capital raised to develop and improve its platform with new features aimed at enhancing sustainability performance and working with other supply chains, such as livestock management, through technologies such as Artificial Intelligence (AI).
Company: xFarm S.r.l.
Raised: €17.0M
Round: Series B
Funding Month: Aug 2022
Lead Investors: Swisscom Ventures
Additional Investors: Neva SGR, Emerald Technology Ventures, NovaCapital, Grey Silo Ventures, and United Ventures
Company Website: https://xfarm.ag/
Software Category: Digital Farming
About the Company: xFarm Technologies is a tech company focused on the digitization of the agri-food sector, providing innovative tools that can support farmers and stakeholders in the management of their businesses. It offers apps for farm management, connected sensors, support in Digital Transformation projects, algorithms applied to agriculture, and training activities for the whole sector. xFarm Technologies supports and simplifies the work of 110,000 farms spread over 1.5 million hectares in more than 100 countries around the world through its proprietary platform. The company is headquartered in Switzerland with more than 70 leading players including top agri-food companies and machinery manufacturing groups.
Source: https://xfarm.ag/2022/08/03/xfarm-technologies-secures-e17-million-to-make-agriculture-sustainable/