xFarm Technologies intends to use the capital raised to develop and improve its app with new features aimed at enhancing sustainability performance. The company will scale its team from 60 to 80 employees by the end of this year.
xFarm Technologies offers farmers a farm management app with which you can visualize your land from satellite and land registry, register and program field activities, monitor xFarm sensors data, trace transports and harvest, register and plan maintenance checks, and much more. According to the company, its platform is being used by 110,000 farms, spread over 1.5 million hectares in more than 100 countries.
xFarm secured a Series B funding rounds, raising €17 million. Its Series A funding round raised €3 million in 2019. xFarm Technologies intends to use the capital raised to develop and improve its platform with new features aimed at enhancing sustainability performance and working with other supply chains, such as livestock management, through technologies such as Artificial Intelligence (AI).
The company states it will develop more effective Decision Support Systems (DSS) in order to enable the optimization of agricultural inputs, such as water, fertilizers and plant protection products.
The company, headquartered in Switzerland with existing branches in Italy and Spain, aims to grow in Europe and expand to new markets, including the Americas.