xFarm Technologies secures funding of €36 million

xFarm Technologies has raised €36 million in a Series C funding round. According to a press release, the round was led by Partech with its Impact Fund, with participation from FinTech company Mouro Capital. Swisscom Ventures, United Ventures and all previous institutional investors also took part, explains the press release.

Startup xFarm Technologies, which is based in Manno in the Swiss canton of Ticino and specializes in digitalization of the agri-food sector, says it is delighted to receive significant support from old and new investors seven years after its establishment and two years after the Series B financing round.

The company adds that it intends to use the capital raised to consolidate its leading position in Europe and accelerate its expansion throughout the continent and in Latin America, India, Turkey and the U.S. It plans to work with investors, partners and customers to improve its performance, further develop its artificial intelligence, regenerative agriculture and FinTech services, and customize them to the needs of markets and customers.

xFarm Technologies, which was formed by a group of farmers and IT experts, offers digital tools for farm management. These include aspects such as field management, logistics and fleet, and financial management.

On its website, the company says it supports the work of 450,000 farms that belong to over 50 supply chains and cover an area of 6.5 million hectares in more than 100 countries. ce/gba