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xFarm Technologies, an AgriTech startup that specializes in Digital Farming and in the digitalization of the agri-food industry and offers cutting-edge technologies to assist farmers and stakeholders in managing their operations, has closed a Series C fundraising round of €36 million.

Funding & Future Plans:

Through its Impact Growth Fund, which aims to scale European impact-native technology leaders seeking to solve environmental and social challenges, global technology investment firm Partech led the new round of funding. Mouro Capital, a VC firm based in London that focuses on growth-stage fintech investment opportunities in North America, Europe, and Latin America, also participated in the transaction. Participating in the round were Swisscom Ventures, United Ventures, and all prior institutional investors, showcasing their faith in xFarm Technologies given its noteworthy accomplishments over the preceding 24 months.

It will be able to accelerate its expansion throughout the rest of Europe, as well as into LATAM, India, Turkey, and the US, where it has already begun to fortify its presence through new hires and strategic partnerships, thanks to the capital raised in this Series C round. Additionally, xFarm Technologies wants to enhance its functionality, expand its service offerings, and customize them to meet the demands of particular clientele and markets.

Digital Farming Growth:

xFarm Technologies, a tech company utilizing its Farm Management Information System (FMIS) and the xFarm digital platform, supports operations for over 450,000 farms across more than 100 supply chains, covering 7 million hectares worldwide. Following its integration of SpaceSense, a French brand specializing in geospatial artificial intelligence, and Greenfield Technologies, a Spanish company focused on regenerative agriculture, xFarm expects significant growth in 2024. This operation solidified xFarm’s position as a European leader in the digitalization of the agri-food sector.

The tech company prioritizes sustainability and works to support partners and customers in implementing Regenerative Agriculture practices at scale. It does this by offering them cutting-edge solutions and technologies through the use of increasingly inventive tools like Geospatial Artificial Intelligence.

Mouro Capital’s participation in this funding round will be vital for establishing xFarm Technologies’ new Fintech and Insurtech division. Furthermore, the company actively works to improve its lending and risk management offerings. As a result, xFarm Technologies will be able to offer enhanced support in financial management and insurance.

Related Content: Climate Resilience – Agrobiomics Boosting Agricultural Sustainability

Matteo Vanotti, CEO of xFarm Technologies, said:

“The global agri-food business is facing significant problems and significant transformation at this moment. Moreover, with additional 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, we at xFarm Technologies want to continue to provide the most sophisticated and useful tools to navigate this landscape. We are thrilled to share the news of this investment round and grateful for the trust that we have received from top-tier partners like Partech, Mouro Capital, and all the other investors. We will keep innovating with their aid, advancing supply chain digitalization and assisting farmers in running their operations even more profitably and sustainably.”

General Partners at Partech Rémi Said and Arnaud Minvielle, stated:

“We genuinely feel excited to collaborate with one of the top AgTech firms globally. Moreover, xFarm Technologies possesses all the necessary elements to become the world leader in farm management software and a key player in transforming the agricultural value chain. This is evident due to its best-in-class horizontal technological solution, innovative market approach, deep understanding of farmers’ needs, and global footprint. Ultimately, it’s a great honor and a source of pride to embark on this journey with the exceptionally talented team at xFarm Technologies.”

Manuel Silva Martínez, General Partner at Mouro Capital, continued:

“As traditional fintech investors, we feel that xFarm Technologies’ vision to digitalize the agricultural sector concurs with their product being a great entry point to serve their client’s financial needs. Matteo and the team inspire excitement as they expand their vision into our core area of expertise.”

Image Credit: xFarm Technologies

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