Cloud-based agtech startup FarmTrace secures undisclosed funding
Africa’s food market is in dire need of intervention, with most farms operated by uneducated smallholder farmers with sub-optimal practices and high food wastage.
FarmTrace, an agtech startup providing a cloud-based management solution for farmers, has secured an undisclosed amount of funding that will be used to fuel the startup’s growth and enhance customer experience.
Founded in 2015, FarmTrace offers a cloud-based farm management solution that integrates production activities and allows remote oversight of farm operations. The startup claims its platform can help farmers scale and manage their operations more efficiently, leading to an increase in yield.
The investment will help FarmTrace to scale its products and enable farmers to improve the profitability of their operations, unlocking growth in Africa’s agribusiness sector by providing local jobs, reducing food wastage, and optimising farm operations.
The implementation of FarmTrace’s tech-powered management solution could help improve farm operations in Africa’s trillion-dollar food market. The latest equity investment from Secha Capital and Hassium Capital comes after the company raised $1 million in its seed round in 2018.
