South Africa: Secha Capital in agritech deal
FarmTrace, a South African-based agritech company, has received an equity investment from Secha Capital and Hassium Capital. The company offers a cloud-based farm management platform that integrates all production activities, enabling farmers to monitor and control their operations from anywhere in the world.
The FarmTrace software has been developed with the farmer in mind, addressing key pain points in farming operations. Brendan Mullen, managing director of Secha Capital, described FarmTrace as ”the backbone to farming operations”. Howard Saffy, managing director of Hassium Capital, highlighted the positive feedback received from local farmers, who appreciate the platform’s ability to provide a holistic view of their farming operations.
FarmTrace intends to use the investment to accelerate its growth by hiring additional software developers, engineers, project managers, and implementation consultants. This expansion aims to support sustainable growth in the local agribusiness sector, increasing exports, employment, and reducing food waste.