FarmTrace, an agritech startup that offers a cloud-based management solution for farmers, has announced fresh funding from Secha Capital and Hassium Capital, following its successful $1 million seed round. The equity investment will be used to fuel the company’s growth and enhance customer experience, as FarmTrace aims to further establish itself as the premier cloud-based farm management solution.
FarmTrace was founded in 2015 by Jacques du Plessis and Werner Lategan and operated on bootstrapped funding for its first three years. In 2018, it secured a $1 million investment, which helped propel the company to greater relevance in the agtech space. The recent funding from Secha Capital and Hassium Capital is expected to enable FarmTrace to bring about the next wave of farming cost savings, yield improvements, and efficiency enhancements.
The core value proposition of FarmTrace is its ability to integrate production activities and provide remote oversight of farm operations. By leveraging cutting-edge technology, FarmTrace offers a wide range of tools to assist farmers in scaling and managing their operations more efficiently. The platform provides real-time data and analytics, enabling farmers to make informed decisions, optimize resource allocation, and reduce waste. FarmTrace’s solutions are designed to be user-friendly and customizable, catering to the unique needs and challenges faced by farmers.
One of the key features that sets FarmTrace apart from other agtech solutions is its focus on addressing the specific pain points of farmers. According to Brendan Mullen, Managing Director of Secha Capital, FarmTrace is built with the farmer in mind, understanding the unique challenges and requirements of farming operations. Howard Saffy, Managing Director at Hassium Capital, also commends the FarmTrace team for their work in developing solutions that meet the exact needs of farmers and building a highly satisfied client base across different horticulture crops.
The recent funding is expected to enable FarmTrace to scale its products and expand its reach to serve more farms, products, and geographies. The company aims to help farms grow sustainably and profitably, unlocking growth opportunities in Africa’s agribusiness sector. With agriculture being a vital sector in Africa, contributing to a significant portion of the continent’s GDP and employing millions of people, FarmTrace’s solutions have the potential to create local jobs, reduce food wastage, and optimize farm operations.
Africa’s food market faces various challenges, including disruptions in supply chains, high costs of farm inputs, and currency fluctuations, leading to a surge in food prices. Additionally, many farms in Africa are operated by smallholder farmers with limited education and sub-optimal practices, resulting in high food wastage. FarmTrace’s cloud-based management solution has the potential to revolutionize farming operations in Africa by providing technology-powered tools and insights that can enable farmers to operate more efficiently, reduce waste, and improve yields.
Furthermore, FarmTrace’s solutions align with the growing demand for sustainable and profitable farming practices. As the world faces increasing environmental challenges and the need for sustainable food production, agtech solutions like FarmTrace can play a crucial role in promoting sustainable farming methods, optimizing resource utilization, and reducing the environmental impact of farming operations.
In conclusion, FarmTrace’s latest funding from Secha Capital and Hassium Capital is expected to drive the company’s growth and enhance its customer experience. With its cloud-based management solution, FarmTrace aims to empower farmers in Africa and beyond to operate more efficiently, reduce waste, and improve yields. The investment will enable FarmTrace to scale its products, create local jobs, and contribute to the growth of Africa’s agribusiness sector. As the demand for sustainable and profitable farming practices increases, FarmTrace’s agtech solution has the potential to play a pivotal role in transforming the agricultural landscape in Africa and addressing the unique challenges faced by farmers in the region.
