Secha Capital News Today

Venture capital funding has declined significantly across the world in 2023, and though there were initial hopes that the nascency of the African tech ecosystem might mean it avoided too much damage, the growing size of the continent’s “startup graveyard” suggests that is not the case.

South Africa’s Secha Capital has announced a first close of ZAR300 million (US$15.7 million) of its second fund, the target size of which is ZAR650 million (US$34 million).

A closer look at private equity investment in South Africas power sector and emerging prospects within the industry.

Amazon is aiming to invest $1.8 billion in South Africa by 2029. The investment will be made towards cloud infrastructure in the region. The company estimates a $2.5 billion investment in the region between 2018–2029.More in #TCDaily.

FarmTrace, a cloud-based agtech solution for farmers, has announced its latest undisclosed funding from Secha Capital and Hassium Capital.

South African agri-tech startup FarmTrace, a cloud-based farm management tool that offers a diverse range of tools to help farmers manage their operations, has raised an undisclosed amount of funding to help it expand operations.

Investors have shown confidence FarmTrace, which provides farmers with cloud software to complement their operational requirements.

At the AfricArena summit, African start-ups were advised to think globally from the start, focusing on having an exit strategy.

CEO Noel Doyle says despite tough trading conditions and spending the first half of the year in the doldrums, the company reported a 10% increase in total revenue to R34-billion.

South African market projected to grow by 6.5% by 2023