xFarm Technologies, an agritech company that supports the digitalisation of the agri-food sector to make it more sustainable, has raised €36 million in a Series C funding round.
This funding will allow the company to accelerate its expansion across Europe, Turkey, Latin America, India, and the US, enhance its services, and provide even greater support for the implementation of regenerative agriculture, using artificial intelligence models for data analysis.
After integrating Greenfield Technologies, a Spanish company focused on regenerative agriculture, and SpaceSense, a French brand specialising in geospatial artificial intelligence, in April, an operation that solidified its position as a European leader in the digitalisation of the agri-food sector, xFarm Technologies has now announced the closing of a €36 million Series C funding round.
The capital raised in this round will enable xFarm Technologies to consolidate its leadership in Europe and speed up its expansion throughout the rest of the continent, as well as in LATAM, India, Turkey, and the US, where it has already begun to strengthen its presence through new hires and strategic partnerships. The company also intends to improve its performance, further develop its services, and tailor them to the specific needs of different markets and customers.
This new round, following a €17 million Series B in 2022 and an initial €3 million round in 2019, was led by global technology investment firm Partech, through its Impact Growth Fund, which seeks to scale European impact-driven technology leaders addressing environmental and social challenges. The round also saw participation from Mouro Capital, a London-based venture capital firm focusing on growth-stage fintech investments across Europe, North America, and Latin America. Swisscom Ventures, United Ventures, and all previous institutional investors also took part in the round, reflecting their confidence in xFarm Technologies’ significant achievements over the past two years.
The company is already well-established across Europe, particularly in Switzerland, Italy, Spain, France, Germany, Poland, and the UK.
Sustainability remains a priority for xFarm Technologies, which aims to support its partners and customers in implementing regenerative agriculture practices at scale, offering even more advanced solutions and technologies, utilising increasingly innovative tools such as geospatial artificial intelligence.
Mouro Capital’s participation in this funding round will play a key role in the creation of xFarm Technologies’ new fintech and insurtech division, which is set on developing services in risk management and lending. This will enable the company to offer more comprehensive support in insurance and financial management.
“This is a time of profound change and major challenges for the global agri-food industry. At xFarm Technologies, we want to continue providing the most advanced and effective tools to navigate this landscape, with further 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,” says Matteo Vanotti, CEO of xFarm Technologies. “We are excited to announce this funding round and are proud to have world-class partners like Partech, Mouro Capital, and all the other investors who have placed their trust in us. With their support, we will continue to innovate, driving digitalisation from a supply chain perspective and helping farmers manage their farms even more effectively and sustainably.”
“We are truly delighted to partner with one of the leading AgTech companies in the world,” commented Rémi Said and Arnaud Minvielle, General Partners at Partech. “We believe that xFarm Technologies, with its best-in-class technological horizontal solution, its innovative route to market, its deep understanding of farmers’ needs, and its global footprint, has all the elements to become the global leader in farm management software and a critical player in the agricultural value chain transition. We are very proud and honoured to embark on this journey with xFarm Technologies and its highly talented team.”
“As traditional fintech investors, we believe that xFarm Technologies’ vision to digitalise the agricultural sector aligns with their product being an excellent entry point to serve their clients’ financial needs,” remarked Manuel Silva Martínez, General Partner at Mouro Capital. “We are excited to support Matteo and the team in expanding their vision into our core area of expertise.”
