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.
Singapore, April 30, 2024 – DiMuto, a global leader in AgriFood innovation, proudly announces its remarkable win in the Digital-Agriculture category at the esteemed SBR Technology Excellence Awards 2024. This prestigious accolade recognizes DiMuto’s groundbreaking contributions to the agricultural sector through its innovative blockchain-based solutions.
DiMuto’s revolutionary Trade Management Solutions have redefined the AgriFood supply chain, setting new benchmarks for digital innovation in agriculture. By leveraging blockchain technology, DiMuto seamlessly connects stakeholders across the supply chain, including suppliers, manufacturers, distributors, retailers, and end-consumers, on a unified, secure network powered by AI.
The platform ensures real-time product tracking from origin to sale, enhancing transparency and efficiency throughout the supply chain. Unlike conventional solutions, DiMuto’s integrated approach combines B2B Marketplace, Trade Management, and Trade Financing solutions, providing stakeholders with comprehensive visibility and control over their supply chains.
“Our win at the SBR Technology Excellence Awards is a testament to our commitment to driving digital innovation and sustainability in the AgriFood sector,” said Mr. Gary Loh, CEO of DiMuto. “We are honored to be recognized for our transformative impact on the industry and remain dedicated to revolutionizing food supply chains worldwide.”
DiMuto’s impact extends globally, with over 1,000 active users across 75 companies and partnerships with industry giants such as Great Giant Foods, Wismettac Foods, Inc., Grupo Paisano, and Montana Fruits. To date, the platform has successfully tracked over 16.4 million products, serving clients in more than 20 countries.
Looking ahead, DiMuto envisions vast expansion opportunities, both geographically and across different sectors of the food industry. With plans to penetrate the Latin America, Asia Pacific, and North America regions, DiMuto is poised to continue its trajectory of innovation and leadership in digital agriculture.
The SBR Technology Excellence Award reaffirms DiMuto’s position as a trailblazer in AgriFood innovation, setting new standards for digital excellence and sustainability in agriculture. As the company continues to evolve and expand, it remains committed to driving growth and sustainability throughout global food supply chains.
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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.
By traders for traders, we 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.
The recent COP28 UAE Declaration on Sustainable Agriculture, Resilient Food Systems, and Climate Action stands as a beacon of hope amidst the increasing threats posed by climate change to agriculture and food security worldwide. Endorsed by 158 countries, this declaration underscores the urgent need for collective action to address the challenges faced by farmers, fisherfolk, and food producers while emphasizing the potential of agriculture and food systems to combat climate change and ensure global prosperity.
The declaration recognizes the critical role of international cooperation, innovative solutions, and comprehensive strategies in responding to the climate crisis while ensuring access to safe, affordable, and nutritious food for all. In particular, more than USD7.1 billion has been mobilized during COP28 for climate positive action in the food system sector. These efforts aim to adapt and transform agriculture and food systems to align with the imperatives of climate change.
Tapping Into Traceability Solutions
This makes the role of advanced technology and traceability systems within the AgirFood industry have paramount importance in achieving the declaration’s commitments by 2025. Traceability solutions offer a comprehensive approach to track and trace food products across complex global supply chains. These systems employ innovative technologies such as blockchain, IoT (Internet of Things), and data analytics to provide real-time information about the journey of produce, ensuring transparency and accountability.
Companies like DiMuto have emerged as key players in providing such solutions, empowering AgriFood stakeholders by increasing sustainable production and consumption, making ESG reporting accessible across global food supply chains, and accessing green financing.
Increasing Sustainable Production and Consumption
DiMuto’s Trade Management Solution empowers AgriFood supply chain stakeholders, consumers, and policymakers with accurate data about the origin, quality, and sustainability of food products. By ensuring transparency and accountability at every stage, identifying inefficiencies and bottlenecks within the supply chain becomes easier and faster. Consequently, AgriFood businesses can better streamline their operational processes and minimize wastage.
Moreover, DiMuto’s SMART Marketing Feature fosters trust and confidence among consumers by delivering authentic, verifiable information about the origin, quality, and sustainability of food products. Now, consumers can make informed choices, supporting ethical and sustainable practices in the AgriFood industry.
Making ESG Reporting Accessible
Together with supply chain traceability data tracked on DiMuto’s Trade Management solutions, DiMuto’s ESG Management feature helps AgriFood companies determine key sustainability metrics. Now, businesses can immediately determine their food waste from rejected or discarded products, carbon emissions from shipments and electricity usage, and water usage across locational facilities. These 3 key data metrics are then aggregated automatically on DiMuto’s ESG Dashboard. This dashboard helps Agrifood business owners easily see the environmental impact of their operations and follow product lifecycles in real-time, providing insight into their environmental impact.
Furthermore, this data can be immediately generated into a report using AI Tools to be shared with relevant parties, helping AgriFood businesses save valuable time and resources. Consequently, companies can now easily navigate the complex ESG regulations landscape and ensure that they are compliant with evolving sustainability frameworks and standards. Additionally, larger AgriFood companies can also take charge of their supplier programs, allowing them to assess their trade partners according to their sustainability standards or goals to build stronger and more responsible supply chains.
Find out more about how DiMuto empowers AgriFood businesses to plan, measure, and communicate their critical ESG information here.
Accessing Green Financing
DiMuto’s Financial Services allows companies to be eligible for Green Financing, based on sustainability metrics determined from DiMuto’s ESG Management Feature. Using AI, aggregated sustainability data is analysed for financiers to easily understand which companies are aligned with their sustainability goals. As financiers increasingly acknowledge the value of ESG-aligned investments, DiMuto’s AI-powered Financial Services bridge the gap between sustainable practices and access to capital, fostering a virtuous cycle of investment in transformative and eco-friendly initiatives across the agrifood supply chain.
As nations commit to integrating agriculture and food systems into their climate action plans, traceability systems serve as indispensable tools in achieving these goals. By providing a robust framework for transparency, accountability, and sustainability, these systems bridge the gap between global commitments and on-ground implementation.
In conclusion, the COP28 UAE Declaration on Sustainable Agriculture, Resilient Food Systems, and Climate Action represents a significant step towards addressing the challenges faced by agriculture and food systems in the wake of climate change. The integration of critical technology systems, exemplified by DiMuto and other organisations, into the Agrifood industry serves as a catalyst to achieve sustainable, resilient, and climate-adaptive agriculture and food systems on a global scale. As nations collaborate and commit to these objectives, the role of technological advancements in supporting these efforts cannot be overstated.
As a project lead for ADS in the Sustainability (Carbon Management) category, DiMuto will work with IMDA to drive Singaporean AgriSMEs’ adoption of DiMuto’s Trade Management Solutions, supported by the ADS grant.
DiMuto’s Trade Management Solutions makes Sustainability accessible by equipping AgriSMEs with DiMuto’s ESG Management Feature, which automates the drafting of Sustainability Reports using AI Tools, simplifies regulatory compliance, and enhances AgriSMEs’ reputations as responsible businesses.
For a limited time, Singaporean companies can now access up to 70% of grant support to use DiMuto’s Trade Management to gain unprecedented visibility into their supply chains, enabling them to enforce sustainability standards and build responsible supply chains.
Singapore, 14 November 2023 – DiMuto, a global AgriFood Digital Transformation Solutions company, is delighted to announce its official recognition as a project lead for Singapore’s Infocomm Media Development Authority’s (IMDA) Advanced Digital Solutions (ADS) scheme, specifically in the Sustainability (Carbon Management) project category.
Launched by IMDA in March 2020, the ADS scheme supports enterprises to pilot solutions as early adopters to deepen their digital capabilities, strengthen business continuity and to drive digital transformation to build resilience for business growth in a digital economy. This has great synergy with DiMuto’s comprehensive Trade Management Solution, which can provide AgriSMEs with a robust traceability system to better track and manage every step of their supply chain for transparency, efficiency, and reduced operational costs.
Gary Loh, Founder & CEO of DiMuto, expressed his enthusiasm about this opportunity, saying, “We are thrilled to be recognized as an official project lead for IMDA’s Advanced Digital Solutions. DiMuto is committed to helping businesses unlock their full potential in the digital age while making a positive impact on our planet. Our services will equip enterprises with the necessary tools and knowledge to thrive, even in challenging times.”
Currently, AgriFood stakeholders face mounting pressure to uphold ethical practices, environmental stewardship, and social responsibility. The introduction of new regulations, such as Singapore Exchange’s (SGX) mandatory climate-related disclosures from FY2025 for Singaporean listed companies, requires comprehensive Environmental, Social, and Governance (ESG) disclosure throughout value chains. However, obtaining consistent, complete, and reliable data is a major challenge in accurate sustainability reporting.
According to Ernst and Young, agriculture sectors often lack historical carbon emissions data as compared to other industries. Furthermore, research by the World Economic Forum finds that the complexity of ESG reporting discourages companies’ willingness and ability to report following established standards, especially for smaller or privately held companies. Thus, DiMuto’s ESG Management feature provides a comprehensive solution for AgriFood companies to track and monitor their sustainability performance.
DiMuto’s Trade Management Solutions is equipped with a powerful ESG Management Feature. This feature is a game-changer for AgriSMEs, as it enables them to seamlessly integrate carbon management into their supply chain activities with real-time insight into their ESG impact across their operations. Now, AgriFood companies can immediately determine their food waste from rejected or discarded products, carbon emissions from shipments and electricity usage, and water usage across locational facilities. These 3 key data metrics are then aggregated automatically on DiMuto’s ESG Dashboard. This dashboard helps Agrifood business owners easily see the environmental impact of their operations and follow product lifecycles in real-time. Additionally, this data can be immediately generated into a report using AI Tools to be shared with relevant parties, helping AgriFood businesses save valuable time and resources.
DiMuto’s ESG Management Feature enables AgriFood companies to easily navigate the complex ESG regulations landscape and ensure that they can comply with evolving standards. Furthermore, larger AgriFood companies can also take charge of their supplier programs, allowing them to assess their trade partners according to their sustainability standards or goals to build stronger and more responsible supply chains.
To ensure the integration and verification of this data, DiMuto’s ESG Management feature is built on blockchain technology and is connected to the existing Farm Management, Production Management, Trade Management, and Inspection Management features on the DiMuto Platform. DiMuto’s blockchain-powered solution helps to ensure immutability, showing the who, what, and when of data inputs for accurate tracking and monitoring of businesses’ environmental impact.
The ESG Management feature will provide companies with detailed analyses of their carbon footprint, including a breakdown of emissions by product, location, and transportation mode. This data will help companies make informed decisions about reducing their carbon footprint and ensure companies are aligned in meeting their environmental targets.
HuiMin Lee, DiMuto’s Chief Experience Officer, added, “The support provided by IMDA represents a significant milestone in our commitment to helping AgriSMEs embrace sustainability and digital innovation. We believe that technology and sustainability go hand in hand, and we’re excited to assist businesses in achieving their sustainability goals while thriving in the digital economy.”
DiMuto remains committed to driving positive change and furthering sustainability in the AgriFood industry. For a limited time, Singaporean companies can now access up to 70% of grant support to use DiMuto’s Trade Management Solutions. For more information, please visit IMDA’s website here or email DiMuto at [email protected].
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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.
By traders for traders, we 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.
Unlock the potential of digital transformation for your supermarket with our groundbreaking trade solutions designed for retailers. Streamline operations, optimize supplier relationships, enhance customer experiences, and boost profitability in a single platform.
Welcome to a new era of trade efficiency and transparency. DiMuto offers a suite of comprehensive trade solutions designed specifically for importer-wholesalers like you, streamlining your operations and enhancing your competitive edge:
End-to-End Visibility: Gain unprecedented insight into your supply chain from source to shelf. Track, trace, and verify the authenticity of your products with ease.
Automated Compliance: Seamlessly navigate the complex landscape of regulatory compliance. Dimuto’s solutions ensure that your imports meet all necessary standards and certifications.
Efficient Documentation Management: Say goodbye to cumbersome paperwork. DiMuto’s platform simplifies and digitizes documentation processes, reducing administrative burden.
Smart Inventory Management: Optimize your inventory with real-time data and predictive analytics. Make informed decisions that drive profitability and reduce waste.
Market Access Expansion: Explore new markets and partnerships with confidence. DiMuto connects you with a global network of trusted partners, opening doors to new opportunities.
Elevate your trade operations and join us in revolutionizing the way you do business today.
Welcome to a transformative approach to AgriFood trade. DiMuto offers a suite of powerful trade solutions curated for agrifood traders, designed to amplify efficiency, transparency, and profitability.
End-to-End Visibility: Gain unprecedented insight into your supply chain from source to shelf. Track, trace, and verify the authenticity of your products with ease.
Automated Compliance: Seamlessly navigate the complex landscape of regulatory compliance. Dimuto’s solutions ensure that your imports meet all necessary standards and certifications.
Efficient Documentation Management: Say goodbye to cumbersome paperwork. DiMuto’s platform simplifies and digitizes documentation processes, reducing administrative burden.
Smart Inventory Management: Optimize your inventory with real-time data and predictive analytics. Make informed decisions that drive profitability and reduce waste.
Market Access Expansion: Explore new markets and partnerships with confidence. DiMuto connects you with a global network of trusted partners, opening doors to new opportunities.
Elevate your trade operations and join us in revolutionizing the way you do business today.
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