Secha Capital and Hassium Capital invest in FarmTrace to support growth and serve more farmers across South Africa and beyond.
FarmTrace, a leading agricultural ERP system in South Africa, has raised undisclosed funding from Secha Capital and Hassium Capital to expand its operations and serve more farmers. The cloud-based farm management tool offers diverse tools for farmers to monitor and control their operations from anywhere in the world.
FarmTrace’s cloud-based farm management tool
FarmTrace, headquartered in Tzaneen, Limpopo, and Stellenbosch, Western Cape, offers cloud software that integrates production activities into a single management platform. This enables farmers to easily monitor and control their operations from anywhere in the world. With a diverse range of tools, FarmTrace provides farmers with an efficient and effective way to manage their agricultural operations.
“FarmTrace started in 2015 and we have bootstrapped exponential growth by working intimately with our clients to solve their needs. We have a long back-log of interested farms, so we decided to raise capital to accelerate our growth and meet the needs of more farmers by hiring additional software developers, engineers, project managers, and implementation consultants,” said Jacques du Plessis, FarmTrace co-founder and CEO.
Secha Capital and Hassium Capital invest
The funding will enable the company to expand its capacity and ensure continued success in serving its customers. With the additional capital, FarmTrace plans to serve more farms, add more products, and expand to new geographies.
“We’ve met with many agri-tech companies that treated agriculture as a homogenous sector and were not built with the farmer in mind. The FarmTrace team knows the key pain points in farming operations and developed a solution to solve them”, said Brendan Mullen, managing director of Secha Capital.
According to reports from last year, African agritech firms have raised USD 1.1 billion over 5 years.