xFarm, our agtech partner and supported startup, announces raising a Series A investment of €3 million, led by United Ventures SGR SpA and TiVenture SA.
xFarm, founded in 2017, is a SaaS platform that aims to facilitate the digitalization of farms. Their innovative platform simplifies data collection and analysis, reduces bureaucracy, improves the efficiency and sustainability of agricultural fields, and allows the traceability of agricultural products.
The open platform is based on a freemium business model and integrates several functionalities in one place, including a cloud-based management software, field IoT sensors, and marketplace with high value-added services (such as irrigation optimization solutions, agro-meteorological forecasts, disease alerts, and precision farming services).
xFarm will use this funding to consolidate its presence on the Italian market and expand into Europe, South America, and Africa. Also, they aim to strengthen the technology platform (especially in the area of AI and blockchain technology) and release new modules to customers.
Hemargroup, as a technology partner, is supporting and collaborating for the further development of their product.
Andrea Moroni Stampa, CTO and Head of Engineering at Hemargroup, said: " We are very proud that our AgTech partner and supported startup, xFarm has closed a €3M Round A, as announced by UnitedVentures and TiVenture. This confirms our intuition about the innovation and disruption potential of xFarm".
These words are confirmed also by the managing partners of United Ventures and TiVenture.
Massimiliano Magrini, co-founder and managing partner of United Ventures, said: “The decision to invest in xFarm is in line with our strategy of investing in the digital transformation of traditionally analog sectors and, according to the McKinsey Global Institute’s Industry Digitization Index, agriculture remains the least digitized of all major industrial sectors to date. xFarm’s founder, Matteo Vanotti, came to us with this vision: to create an application that can help and simplify the work of farmers. A world he knows well, because before being an engineer and an entrepreneur he is a farmer himself, as he has always been involved in the family farm. 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”.
Paolo Orsatti, managing partner of TiVenture, emphasizes: “TiVenture is proud to participate in the investment in xFarm, an opportunity that presents all the prerequisites for creating a successful digital company: a market with enormous potential for development, a team of young entrepreneurs focused on achieving corporate goals and a financial partner of the caliber of United Ventures, able to follow the company in all its growth phases”.
We keep our fingers crossed for the brilliant future of xFarm, and we are ready to continue in our collaboration.
If you want more information about Hemargroup and our services, or you are a company or startup looking for a partner who can design, engineer, and manufacture your product, contact us!
