AgVentures invests in African software champion

AgVentures, Africa’s leading, dedicated agrifood tech investor, announced an investment in Matrix Software. 

Matrix Software is the leading specialist software provider to the meat industry in Southern Africa, with more than 150 clients spanning from abattoirs, meat processors, wholesalers, and retailers. Matrix currently operates in seven African countries – South Africa, Namibia, Botswana, Zimbabwe, Zambia, Nigeria, Seychelles – and Australia. 

AgVentures, with the objective of unleashing Africa’s agrifood potential through technological innovation and entrepreneurship, partners with agrifood tech entrepreneurs and enable them to accelerate the growth and development impact of their businesses in Africa. 

Matrix is a phenomenal South African entrepreneurial success story. After being founded in 2005 by Deon Snyman at the age of 21, the business has grown steadily into its market leading position by providing clients with mission critical functionalities to enable the processing of perishable food products where precise stock control, yield management, traceability, productivity tracking and costing – with minimal production downtime – is critical to business success. Not only is Matrix’s software crucial to ensuring the safety of the food on the consumer’s plate but it also enables the optimisation of the value chain so that the consumer can safely enjoy their meat at the lowest possible price. 

With the African population projected to increase from 1.3 billion to 2.5 billion over the next 30 years combined with rising incomes, meat consumption in Africa is expected to increase rapidly. Matrix’s robust, cost-effective software provides the ideal solution to the challenges faced by the African meat and food value chain. Food safety and traceability is top of mind for the entire food industry and Matrix’s technology enables complete traceability of meat products from the abattoir to the retail shelf. Not only does this provide consumer with peace of mind, but it also enables accountability and efficiency within the value chain. 

AgVentures’ investment ideally positions Matrix to continue its rapid growth through the introduction of new functionalities to existing clients, expanding into adjacent market verticals (such as poultry, fisheries, and dairy) and driving its ambitious African growth strategy (especially into East Africa). 

Deon Snyman, Matrix’s founder and CEO is upbeat about the investment: “We are excited to partner with AgVentures given their experience in supporting and scaling agrifood technology companies. Whilst we have big plans for Matrix, we remain committed to our single-minded focus on understanding and addressing the needs of our existing and future customers.”  

This sentiment is also shared by Gerhard Visagie, the CEO of AgVentures: “We are thrilled about investing in Deon and the Matrix team. Matrix provides an indispensable solution to their customers, and we are excited to expand Matrix’s offering on the continent to unleash the potential of Africa’s meat and food industry. 

For more information contact:

Jan C Greyling, Analyst
083 608 2213  
jan@agventures.africa 

Categories

Subscribe to our newsletter

  • This field is for validation purposes and should be left unchanged.

Bitcoin for farmers – Part III

In the previous two instalments of this series of posts, we looked at the basic principles of blockchain technology, why the large scale adoption and application of it has not realised thus far, and how Hedera Hashgraph can overcome these barriers. The application...

Bitcoin for farmers – Part III

In the previous two instalments of this series of posts, we looked at the basic principles of blockchain technology, why the large scale adoption and application of it has not realised thus far, and how Hedera Hashgraph can overcome these barriers. The application...

Bitcoin for farmers – Part II

The basic principles of bitcoin and blockchain technology were set out in my previous post. The possible applications of the technology, as well as why it has not yet materialised, are discussed in this post. Blockchain technology at its most basic level makes it...

Bitcoin for farmers – Part I

Bitcoin is currently a point of discussion around many braais. With a price of more than R700 000 per coin and an increase of 380% in value over the past twelve months, this is understandably so. This three-part series takes a deep dive into Bitcoin and distributed...

AgVentures Invests in Online Farmer Marketplace

AgVentures, Africa’s pioneering agrifood tech investor, recently acquired a stake in Skudu.  Consumers are spoiled for choice with online marketplaces but the same cannot be said for the buyers and sellers of agricultural inputs and produce. This market is ripe for...

Jan Greyling joins AgVentures

Jan Greyling is joining AgVentures as analyst in January 2021. Jan holds a PhD in Agricultural Economics from Stellenbosch University and has published several academic papers and book chapters in agricultural development, policy, and technology. Jan worked as...

The future of fruit yield estimation

For years, the fruit industry have had to rely on conducting crop yield estimations through physical counting and extrapolating it to the entire crop. This method of yield estimation achieves inconsistent results. The ability to accurately estimate crop yields...

AgVentures is hiring!

AgVentures is hiring an analyst to assist us in unlocking Africa's agrifood potential by investing in and nurturing innovative and disruptive technologies.

Leading the African agrifood tech revolution

AgVentures, a South African based agrifood tech investment company, recently raised an anchor commitment of R100 million from Acorn Agri & Food, a leading South African agrifood business. This will assist AgVentures to pursue its vision of unleashing Africa’s...

Categories

Subscribe to our newsletter

  • This field is for validation purposes and should be left unchanged.
Share This