xpharm, start An Italian-Swiss company specializing in developing digital solutions for farmers announced on October 9 a Fundraising In Series C of €36 million. The funding round was led by French venture capital firm Partek, with backing from Moro CapitalSwisscom Ventures and United Ventures fund in Milan. The startup had already raised €3 million in December 2019 and €17 million in February 2022. Last year, it also received €1 million as part of the European “EIC Accelerator” program.
Data analyzes to determine the cause of low yields
Start developing a to request Web and mobile for farmers to help them better manage their land, farms and machines. It provides solutions to ensure the best possible irrigation and adopt strategies for specialized crops. XFarm also offers connected sensors that, combined with data from satellites, allow farmers to determine the cause of decreased productivity.
XFarm claims that its services are used on more than 450,000 farms around the world, belonging to more than 100 supply chain operations covering 7 million hectares. The startup was founded in 2017 and is already present in France. Italy And in Swissbut also in Germany, Poland and the United Kingdom.
XFarm bought a French startup at the beginning of the year
In April, the Lugano (Italy)-based startup announced two external growth acquisitions, firstly the acquisition of Greenfield Technologies, a Spanish Specialized in soil characterization. It also acquired SpaceSense, a French startup that develops satellite image analysis solutions for agriculture. This was the last one Specifically scheduled by IGN for 2023 Within the framework of its initiative between the public and private sectors.
Through this fundraising, the agtech should work to expand its international presence, starting with the rest of Europe. XFarm next plans to offer its services in Latin America, Turkey, Brazil, India and the United States. The startup also intends to improve its products, especially those that include geospatial data. It hopes to eventually develop a new section dedicated to loans and loansParametric insurance (Caused by exceeding the meteorological index too often).
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