Finapp secures €8.64 million in Series A funding to support international expansion and industrial growth, led by Linfa, Italy's first agrifoodtech fund.
Target Information
Finapp, an innovative startup founded in 2019 as a spin-off from the University of Padua, specializes in developing patented probes based on Cosmic Ray Neutron Sensing (CRNS) technology. This technology enables the measurement of water content in soil and snow by detecting neutrons generated from cosmic rays. Finapp's precise measurements can be applied in various fields, including precision agriculture, environmental monitoring, landslide prevention, flood and fire mitigation, and leak detection in water networks.
Following its inception, Finapp participated in an accelerator program at Village by Crédit Agricole Triveneto in 2022. The company has successfully reached operational breakeven within six years of its founding, with installations of its devices across all continents, including Antarctica. Additionally, it has gained international recognition through awards such as the EIC Accelerator 2023, the UN's AI for Good Award, and a commendation at COP28 in Dubai.
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Industry Overview
The agrifoodtech industry in Italy has increasingly positioned itself as a leader in sustainable agricultural practices. With a strong focus on innovation and technology, the market is energized by significant investments targeting solutions that
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Linfa
invested in
Finapp
in 2022
in a Series A deal
Disclosed details
Transaction Size: $9M