xFarm raises €3 million in Series A round

Founded in 2018 in Manno (TI), Xfarm is developing solutions for the 4.0 agri-food industry. The company’s SaaS platform is designed to facilitate the digitalization of farms, simplifying data collection and analysis, reducing bureaucracy, improving the efficiency and sustainability of agricultural fields and allowing the traceability of agricultural products.

The modular, open platform is based on a freemium business model that integrates cloud-based management software, field IoT sensors and a marketplace with high value-added services such as irrigation optimization solutions, agro-meteorological forecasts, disease alerts and precision farming services.

Striving to address the growing needs of the proliferating global population and to further optimize its solutions for the agri-food industry, xFarm has obtained fresh capital from the closing of a Series A round. United Ventures, independent venture capital firm specialising in the software and digital technology sectors, led the round. Further investors include TiVenture.

The investment will allow xFarm to consolidate its presence on the Italian market and expand into international markets with particular attention to Europe, South America and Africa; as well as to strengthen the technology platform (especially in the area of artificial intelligence applied to data and forecasting models, also using blockchain technology) and release new modules to customers that can simplify and enhance the management of agricultural fields.

Matteo Vanotti, engineer and farmer, founder of xFarm, says: “I am very proud to have expanded the xFarm team with United Ventures and TiVenture.”

Acknowledging the startup’s achievements and competencies, Massimiliano Magrini, co-founder and managing partner of United Ventures says, “We believe that Matteo and his team are real game-changers and that they have the right skills and ambition to scale the business internationally and become the reference platform for farmers who want to manage their companies digitally”.

(RAN)