xFarm Technologies, the Lugano-based company that develops software and connected hardware for agriculture, has acquired 100% of Sibium Analytics, a Brazilian technology provider for the sugarcane industry, Startupticker.ch reports. According to xFarm, Sibium's solutions cover around 70% of the sugarcane area cultivated in Brazil, making it a leading provider in the sector.

For xFarm, this is the sixth transaction of its kind, and the second in Brazil.

The acquisition: Sibium keeps running

Sibium Analytics will continue its operations without interruption, while benefiting from the broader range of products and services of its new parent company. The joint offering for sugar mills and cane growers is set to combine xFarm's solutions with Sibium's established expertise.

The company explains that market dynamics and the opportunity at hand made it the right time to strengthen its presence in Brazil, with the ambition of building a leading position there, as well as in other markets it considers strategic. This is a stated goal, not an achieved result.

The financing: a bridge round with BlackRock

The acquisition was financed in part by a bridge round, bringing together existing investors, new investors and BlackRock, presented as a direct investor in the company. No financial details were disclosed: neither the acquisition price, nor the size of the round, nor each party's share.

According to xFarm, the deal was made possible by a strategic partnership with BlackRock, one of the world's largest asset managers, which supports its expansion into key markets and value chains alongside the existing shareholders. The company sees it as an important milestone and the start of a new phase of growth and international expansion.

An agritech built through acquisitions

The group was formed in 2021 through the merger of xFarm and Farm Technologies. Since then, several companies have joined it: Wapi in Italy, SpaceSense in France, Greenfield Technologies in Spain, Checkplant in Brazil, and now Sibium Analytics, also in Brazil.

The company says it is betting both on organic growth, with heavy investment in research and development and a growing customer base in its current and new markets, and on targeted mergers and acquisitions. Its stated aim: to build a leading global platform for the digital transformation of the agri-food ecosystem.

Lugano and Manno remain the technical base

xFarm is headquartered in Lugano, which is also its centre of excellence for management and for development in artificial intelligence and the internet of things. The Lugano office houses the research and development, technology and engineering teams. At the Technopole in Manno, other teams manufacture the hardware, which the company designs entirely in-house, from weather stations such as xSense to soil sensors.

According to xFarm, Switzerland will remain a key hub for sensors, the internet of things and advanced technologies, and investment in innovation will remain decisive. “The Swiss team is going to grow, especially on the management side, given the various acquisitions we have made and will make,” says Matteo Vanotti, CEO of xFarm.

Sources

  • Startupticker.ch: “xFarm Technologies acquires Sibium Analytics with BlackRock as a direct investor”