Swiss-Italian tech startup xFarm Technologies has raised €17 million in Series B financing to add new features to and expand the availability of its farm management information system. Zürich-based Swisscom Ventures led the round with participation from Neva SGR (Intesa Sanpaolo Group), Emerald Technology Ventures, NovaCapital, and Grey Silo Ventures.
Founded in 2017, xFarm Technologies offers farmers and other ag businesses a mobile platform that, via in-field sensors, collects and analyzes data from all over the farm, providing information on pests, weed growth, irrigation needs, and financial matters, to name just a few.
xFarm merged with Italian digital ag company Farm Technologies in 2021 to create xFarm Technologies. The merger brought additional capabilities and management areas to the xFarm platform. Currently, the software platform supports 110,000 farms belonging to over 30 agrifood chains and covering 1.5 million hectares in roughly 100 countries.
xFarm is available as a “freemium” subscription to growers and other ag businesses just wanting to try it out before graduating to a paid premium service.
Source: agfundernews.com
Photo source: xFarm Technologies