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Singapore, 20 Aug 2024 – DiMuto, a global AgriFood trade solutions company from Singapore, has successfully closed its Series A funding round, securing a total of US$5.9 million. The round, which was led by The Yield Lab Asia Pacific, saw contributions from prominent investors including SiS Cloud Global Tech Fund 8, Gold Sceptre Limited, and Dave Chen. Existing investors such as SEEDS Capital, SGInnovate and PT Great Giant Pineapple also participated in the round, following their investments in DiMuto’s earlier US$2.35M fundraise in 2021.
DiMuto stands at the forefront of digital transformation in the global food supply chain by integrating advanced technologies such as AI, blockchain and IoT. The strategic infusion of capital will bolster DiMuto’s expansion into key markets, particularly in Latin America and the United States, as well as fast-track the enhancement of its innovative digital ecosystem.
DiMuto’s tri-layer digital solutions are transforming the AgriFood industry. The Trade Management Platform digitizes every carton of AgriFood products for quality assurance and data visibility, its traceable Marketplace connects verified buyers and suppliers to enhance transparency and trust, and its Financial Services provide post-shipment trade financing to address critical financial needs and drive business growth of AgriFood companies. This holistic approach boosts operational efficiency and strengthens the entire supply chain, position DiMuto as a game changer in the AgriFood industry.
Gary Loh, Founder and CEO of DiMuto, expresses the company’s excitement, “In a year marked by global economic challenges, this influx of capital is a resounding validation of the company’s growth trajectory, and will enable us to leverage our momentum in the Latin America and US markets and bring us closer to our mission of redefining global Agritrade.”
Commenting on the successful closing of the bridge round, Lim Hwee Hai, Managing Director of SiS Asset Management says, “We are pleased to support DiMuto in its latest funding round and lend our expertise to the scaling of its AI-powered Financial Services. There is significant interest from the AgriFood industry for such trade financing solutions, and we are confident that DiMuto’s real-time data capture and AI-driven financial scoring are poised for great success.”
DiMuto also plans to broaden its Marketplace arm and venture into greenhouse-based agriculture and climate-adaptive varietal development. This move will enhance year-round supply resilience and scale the company’s private label, SoLuna Fresh, which has successfully marketed traceable fresh produce from Latin America into Asia markets, particularly in tropical and berries categories.
The latest Series A funding not only underscores investor confidence in DiMuto’s innovative approach but also paves the way for its continued leadership in the global AgriFood sector. With this fresh capital, DiMuto is set to accelerate its mission of transforming the AgriFood supply chain through digitalization, enhancing transparency, and fostering sustainability across the industry.
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About DiMuto
DiMuto redefines AgriTrade with AI, Data Visibility, and Finance — Using tech to create and connect a sustainable, global AgriTrade ecosystem.
With our three pillars of Marketplace, Trade Management, and Trade Financing, DiMuto supports every aspect of AgriFood trading, redefining the way goods are managed from farm to table, seamlessly and simply connecting every step, and making it visible throughout.
DiMuto was founded by Gary Loh after a decade of running a global fruit & vegetable company.
Frustrated with the way global food trade was conducted, he decided things need to change for the better. DiMuto aims to solve the global issue of food resilience and supply chain inefficiencies.
By traders for traders, we want to help AgriFood business owners optimize their operations efficiently and for them to build a foundation of trust between their buyers or sellers so that they can take action on improving and growing their businesses in a more sustainable, efficient manner.
Maximizing Business Efficiency, Minimizing Impact on The Planet.
Since 2019, DiMuto has successfully tracked and traced over millions of pieces in produce and millions in dollars of trade value on our platform, working with a global portfolio of clients in over ten countries and five continents. DiMuto is founded by Chief Executive Officer Mr Gary Loh, who is also the Executive Chairman of First Alverstone Group.
For more information, please visit www.dimuto.io.
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For media queries, please contact:
HuiMin Lee
Email: huimin@dimuto.io