xFarm Technologies, a Milan, Italy-based agtech company, raised €17m in Series B funding.
The round was led by Swisscom Ventures with participation from Neva SGR (Intesa Sanpaolo), Emerald Technology Ventures, NovaCapital e Grey Silo Ventures, as well as United Ventures. In conjunction with the funding, Alexander Schlaepfer, partner of Swisscom Venture, joined xFarm Technologies’ board.
The company intends to use the funds to further develop the platform adding new features powered by AI, and further expand its business reach abroad.
Led by Matteo Vanotti, CEO, xFarm provides a digital platform that allows farms to manage their business, from plantation to logistics, equipment and decision processes. The company’s growth aims to extend the range of projects they already manage with over 70 agri businesses. To this end, xFarm will integrate the team with 20 new people to reach 80 employees.
FinSMEs
14/08/2022