FarmTrace, a South African agri-tech company has raised equity funding from Secha Capital and Hassium Capital to grow its platform for farmers by expanding its software developers and engineers. FarmTrace has an agri-tech enterprise resource planning system that was established in 2015 to provide farmers with cloud software to complement their operational requirements. The cloud-based application enables producers to monitor and control their operations from anywhere in the world by using a web-browser or mobile device running Android or Apple iOS. The FarmTrace display dashboards enable the farmer to visualize production activities, production data and marketing statistics in graphic form, using maps, tables, charts and graphs. The equity stake or the amount invested was not disclosed.
Secha Capital is a growth capital impact fund in Southern Africa employing an operator-investor model and investing in traditional industries making up the green economy. Secha Capital typically invests between R3-million and R15-million and places a team member into the portfolio company for a year to complement its growth equity checks. The firm focuses on investing in FMCG, agri-business, healthcare, light manufacturing and business enabling sectors.
Hassium Capital is a South African based venture capital fund investing in founders and teams building innovative African companies with the potential for international expansion. The fund has invested in startups such as Exosolar, Cleanme, Quro Medical and NewTech among others.