AgVentures invests in software provider to food industry
AgVentures, a dedicated agrifood tech investor in Africa, has announced an investment in Matrix Software.
Matrix Software is a specialist software provider to the meat industry in Southern Africa, with more than 150 clients spanning from abattoirs, meat processors, wholesalers, and retailers. Matrix currently operates in seven African countries – South Africa, Namibia, Botswana, Zimbabwe, Zambia, Nigeria, Seychelles – and Australia.
After being founded in 2005 by Deon Snyman at the age of 21, the business has grown steadily into its market-leading position by providing clients with mission-critical functionalities to enable the processing of perishable food products where precise stock control, yield management, traceability, productivity tracking and costing – with minimal production downtime – is critical to business success.
AgVentures’ investment positions Matrix to continue its rapid growth through the introduction of new functionalities to existing clients, expanding into adjacent market verticals (such as poultry, fisheries, and dairy) and driving its ambitious African growth strategy (especially into East Africa).
Deon Snyman, Matrix’s founder and CEO is upbeat about the investment, “We are excited to partner with AgVentures given their experience in supporting and scaling agrifood technology companies. Whilst we have big plans for Matrix, we remain committed to our single-minded focus on understanding and addressing the needs of our existing and future customers.”
This sentiment is also shared by Gerhard Visagie, the CEO of AgVentures, “We are thrilled about investing in Deon and the Matrix team. Matrix provides an indispensable solution to their customers, and we are excited to expand Matrix’s offering on the continent to unleash the potential of Africa’s meat and food industry.”
Are you seeking private equity or venture capital investment to grow your company? Africa Private Equity News now offers you the opportunity to connect with investors backing African businesses. Contact us at editor@africaprivateequitynews.com for our rate card and more information.