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AI-Powered DiMuto Financial Services Strengthens Presence in Latin America with Colombian Exporter Montana Fruits

Colombia, 24 April 2023 – DiMuto, a global Agri-FinTech company, strengthens its presence in Latin America with the latest financing of Colombian fresh produce exporter Montana Fruits. The deal will first see DiMuto leverage its AI-powered financing solution to finance Montana Fruits’ exports to Europe, before expanding to its other export markets such as United States and Asia.

DiMuto Financial Services provides data-backed, AI-powered trade financing solutions to AgriFood companies conducting international trade. The solution uses live, transactional data regarding product quality, payment timeliness and status, and disputes all tracked on the DiMuto Platform to accurately assess creditworthiness of applicants.

Montana Fruits is a Colombian packer and exporter of high-quality fresh produce items including avocados, as well as tropical items such as passionfruit and Tahiti limes. As part of its commitment to sustainability, Montana Fruits work with bees in its crop pollination process to support bee populations, and the diversity of food crops. Montana Fruits also supports the well-being of their farmers and provides training and fair market rates for harvests. The company holds a wide range of industry standards and certifications that include Global Good Agricultural Practices (G.A.P), Sedex Members Ethical Trade Audit (SMETA), Rainforest Alliance Certification. The company’s main market is in Europe, with up-and-coming markets including United States and Asia. Montana Fruits processes around 400 containers a year, and exports over US$7 million worth of fresh produce.

“We are grateful to have DiMuto as our financing partner. Their expertise, experience, and commitment to providing financing for the AgriFood trade is invaluable to our business. With their support, we can continue to grow our export operations and reach new markets,” said Mauricio Moranth Zuluaga, General Manager of Montana Fruits and Board Member of Colombia Avocado Board (CAB).

DiMuto Financial Services utilizes a two-tier AI algorithm to determine financing risks for each trade. The company’s proprietary Product Quality AI will be applied on every single carton of fresh produce tracked with DiMuto QR labels to get visibility on overall pre-shipment and post shipment product quality. In addition, DiMuto Trade Health AI will execute financial health scoring based on not just historical financial statements, credit reports, business performance data but also the real-time trade information and documents uploaded on the DiMuto Platform.

This helps financiers to gain deeper visibility on the operational and financial profile of borrowers, as well as allow financing applicants to have more accurate risks assessments and more flexible terms.  DiMuto Financial Services can be a game-changer for AgriFood companies looking to improve cash flow and unlock capital to further support business growth.

The data-driven supply chain visibility created by DiMuto also provides significant sustainability insights via the DiMuto Sustainability Management dashboard. With its ability to track every single carton of products from farm to fork, DiMuto can accurately estimate the carbon footprint of AgriFood companies. Such data regarding sustainability metrics can also be made readily available to financiers, who can now conduct due diligence with data visibility and ensure funds invested fulfill sustainability objectives.

“Data-backed sustainable financing is a key focus in DiMuto’s mission to redefine global trade. We want to make sure that we have on-the-ground visibility of the companies we finance as they put in the good work on their sustainability journey. That is why we are very pleased to announce the financing deal with Montana Fruits,” said Gary Loh, Founder and Chief Executive Officer of DiMuto. “We look forward to supporting the growth of Colombian agricultural exports with our financial services.”

In Colombia, the fresh agricultural export sector continues to perform strongly with exports of Colombian produce expected to grow despite the global economic slowdown. For instance, exports of passionfruit grew 25.8% during the first seven months of 2022 while Colombia’s exports of Hass avocados to Europe grew 41% between 2016 to 2021 and 58% in the US just last year. 

Montana Fruits is also working with DiMuto via the DiMuto Marketplace, a B2B AgriFood marketplace, to tap on the company’s strong network in Asia and grow their export business. The innovate DiMuto Marketplace connects traceable buyers and sellers in the AgriFood industry, providing access to high quality products with supply chain visibility. The marketplace offers a wide range of fresh produce, manufactured foods, and seafood products for potential buyers, enabling quick and efficient sourcing.

DiMuto’s financing deal with Montana fruits follows closely after the announcement of their financing deal with Grupo Paisano, a Mexican grower-exporter of fresh produce items ranging from avocados, berries, mangoes, limes and more. The move is part of the company’s efforts to bolster its presence in Latin America as it works to power global AgriFood trade with data visibility and finance for a more sustainable food system.

DiMuto DACKY device and DID labels implemented on Montana avocados in Montana’s packing facilities.

DiMuto and Montana team (L to R: Miguel Giraldo (Regional Account Manager, DiMuto), Natalia Moranth (Co-founder & Sales Manager, Montana), Gary Loh (Founder & CEO, DiMuto), José Aristizabal (CEO, Montana), & Mauricio Moranth (Co-founder & Production Manager, Montana), Julie Escobar (CCO, DiMuto))

 

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About Montana Fruits  

Montana Fruits was established in August 2018. We are a Colombian company dedicated to the export of carefully selected passionfruit, avocado, and lime, always offering the best quality products to meet the highest standards. Our team is made up of an interdisciplinary group of experts, in different areas of the supply chain, from planting crops, through supply, selection and packaging, logistics, until the final commercialization.

We differentiate ourselves in the market due to our high-quality standards, as well as offering technical support and accompaniment to our producers and clients.

Our goal is to be recognized nationally and internationally for our quality standards, rigorous certification process, secure supply chain, and trust in our customers and suppliers.

Visit www.montanafruits.com for more information.

About DiMuto

DiMuto is an AgriFood Trade Solutions that powers global AgriFood Trade with Visibility and Financing. With its three pillars of Marketplace, Trade Management, and Trade Financing, DiMuto simplifies every step of global trade. From produce, trade to market, DiMuto provide sales, marketing, operations, financing, and insurance tools so agribusinesses can get the data visibility they need to trade better and grow greater.

With Visible Trade, DiMuto powers companies and the world forward with confidence as we help create a more efficient, transparent, and measurable ecosystem of sustainable global AgriFood trade.

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

AI-Powered DiMuto Financial Services Expands into US and Mexico with Grupo Paisano Financing Deal

Singapore, 28 February 2023 – DiMuto, a global Agri-FinTech company, has expanded its AI-powered Financial Services to the US and Mexico through its latest financing deal with Grupo Paisano, a large international grower-exporter of fresh produce items based in Mexico. Financing Grupo Paisano’s fresh exports to the United States, the deal will leverage live trade transactional data tracked on DiMuto’s trade platform and utilize DiMuto’s proprietary trade health and financial AI to effectively mitigate systemic and transaction risks.

Grupo Paisano is a grower-exporter collective that works together with smallholder farmers to build scalable, transparent, integrated supply chains connecting field to export markets. The company organizes farmers from three different regions in Mexico into Society of Rural Production (SPRs) and provides them with training, technology and support to improve production yield.

Grupo Paisano exports more than ten product categories such as avocados, mangoes, and limes to the United States, where it is working with leading produce distributors with presence in top nationwide supermarkets. Annually, the company exports over 1,000 containers of fresh produce with over US$17 million in trade value.

“We are excited to work with DiMuto’s technology-enabled financing solutions. Working with large retailers and distributors typically means payment terms that can span upwards of 30 days upon arrival. DiMuto’s trade finance is extremely helpful to effectively manage our cash flow and scale our business,” said Miguel Gallo Reynoso, General Director of Grupo Paisano.

DiMuto Financial Services provides AI-powered trade financing to AgriFood companies. The DiMuto platform unifies critical documents, products and payments in one place, gathering an accurate depository of live trade data between the borrower and respective business partners. To ensure data visibility of the supply chain, borrowers are required to digitalize their trades, tracking every single carton for each order from packhouse to export markets.

DiMuto leverages proprietary AI to assess trade health and product quality for every trade transaction, creating a complete and accurate image of financial and operational strength of companies. The added data visibility creates lower risks for financiers and more favourable financing rates for AgriFood SMEs. This means AgriFood companies can now better manage cash flows, maintain working capital liquidity, and have greater access to essential resources for economic growth.

The data-driven supply chain visibility created by DiMuto also provides significant sustainability insights via the DiMuto Sustainability Management dashboard. With its ability to track every single carton of products from farm to fork, DiMuto can accurately estimate the carbon footprint of AgriFood companies. Companies can now identify opportunities for optimization and efficiency, such as reducing food waste and energy consumption. This helps reduce costs and support sustainable practices, which can be leveraged to secure financing.

Such data regarding sustainability metrics can also be made readily available to financiers, who traditionally face challenges in sustainability financing due to the lack of transparency and visibility into supply chains. Now, they can easily conduct due diligence with DiMuto’s data visibility and AI, ensuring funds invested fulfil sustainability objectives.

“Grupo Paisano continues to lead the market with its commitment to smallholder farmers and promotion of sustainable agriculture supply chains. We are proud to support Grupo Paisano in this important work with our data-driven financing and help them grow their business and communities together,” said Julie Escobar, Chief Strategy & Commercial Officer of DiMuto.

The Mexican fresh produce industry has consistently seen positive growth and produces US$17.5 billion worth of fresh produce every year. While Mexican exports dominate the US market, there is plenty of untapped opportunities for Mexico to grow its exports in both established and newer markets, such as the Asia-Pacific region.  

Grupo Paisano is also working with DiMuto via the DiMuto Marketplace, a B2B AgriFood marketplace, to tap on the company’s strong network in Asia and grow their export business. The innovate DiMuto Marketplace connects traceable buyers and sellers in the AgriFood industry, providing access to high quality products with supply chain visibility. The marketplace offers a wide range of fresh produce, manufactured foods, and seafood products for potential buyers, enabling quick and efficient sourcing. The DiMuto Marketplace is also committed to sustainability and environmental responsibility, working with growers and suppliers who use eco-friendly farming and packaging practices.

DiMuto continues to deepen its presence in US and Latin America, and is working towards strengthening its financial offerings. The company plans to launch a loan fund targeted at institutional and accredited investors and broaden its financing facilities for AgriFood SMEs around the world. The move emphasizes DiMuto’s commitment to power global AgriFood trade with data visibility and finance for a more sustainable food system.

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About Grupo Paisano

Founded in 2013 by Carlos Alvarez Figueroa, Grupo Paisano was created to improve the rural life of Mexican growers. We promote socio-economic sustainability and growth of small farmer communities to ensure long-term profitability of their small business operations. We believe we can change the world one small farmer at a time. That’s why we focus on better the lives of those who need it most. By transforming the way food is being grown, we are creating a healthier and more sustainable world.

 

About DiMuto

DiMuto is an AgriFood Trade Solutions that powers global AgriFood Trade with Visibility and Financing. With its three pillars of Marketplace, Trade Management, and Trade Financing, DiMuto simplifies every step of global trade. From produce, trade to market, DiMuto provide sales, marketing, operations, financing, and insurance tools so agribusinesses can get the data visibility they need to trade better and grow greater.

With Visible Trade, DiMuto powers companies and the world forward with confidence as we help create a more efficient, transparent, and measurable ecosystem of sustainable global AgriFood trade.

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

Aleta Planet Launches B2B Cross-border Payment Services for DiMuto Global AgriFood Trade Management Platform

  • Aleta Planet integrates payment solutions with DiMuto’s blockchain-enabled platform
  • AgriFood customers and financing partners now gain maximum visibility on flow of goods and funds across supply chain

Singapore, 17 January 2023 – Global fintech player Aleta Planet said today that customers using DiMuto’s AgriFood trade solutions to track the movements of perishable goods through the global supply chain can now use its payment solutions.

By integrating its payment solutions with DiMuto’s blockchain-enabled platform, Aleta Planet is able to offer a high degree of transparency and traceability to businesses and institutions involved in the trading and financing of agricultural products like fresh vegetables and fruit, meat and livestock and seafood products as they move from farm to table.

The payment functionality went live four months after Aleta Planet and DiMuto announced they were teaming up to tackle supply chain inefficiencies that have led to gross wastage and lack of access to financing in the global trading of perishable AgriFood products.

DiMuto’s AgriFood trade platform offers three key services – DiMuto Marketplace, DiMuto Trade Management and DiMuto Trade Financing. DiMuto leverages its ecosystem of traceable buyers and suppliers to move traceable AgriFood products around the world. Once the order has been placed between a buyer and a seller, the products are tracked and managed using DiMuto’s Trade Management module. These orders, with the added visibility on DiMuto, are now available for financing on DiMuto.

DiMuto’s proprietary digital asset creation technology (DACKY) tracks AgriFood products with QR labels and digital images to track the movement of produce so that every buyer and seller of goods and services along the supply chain – from farmers and packers to the logistics and shipping companies, distributors, and retailers – know where the products are at any point in time.

Buyers can verify the quality of the products from AI-scored images uploaded to the platform before they are packed and receive advance warning of any delays in delivery. The seller, on the other hand, can see the produce when the carton is opened at the receiving end. This helps to assure objective product quality assessment across the supply chain.

With Aleta Planet’s payment solutions embedded with DiMuto’s technology, those making and receiving payments for goods and services as well as those providing financing can easily access all critical data regarding the product quality, documentation and payment activities for every single trade order. Additionally, blockchain-enabled systems such as DiMuto offer users a greater level of security since records are updated and stored across different computers which can be accessed by interested parties.

Ryan Gwee, Founder and Group Chairman of Aleta Planet, said: “Everyone involved in the global trading and financing of perishable products knows how useful it is to have maximum visibility of the flow of goods and funds along multiple points in the supply chain. Now they can have that and more – visibility of products, documents, and payments down to each carton and item.

“We are confident that Aleta Planet’s payment solutions for DiMuto’s blockchain-enabled platform will go a long way to making trade in agricultural produce safer, smoother and speedier.”

Aleta Planet said it issues digital accounts globally that enable cross-border B2B payments. With its global account setup, customers can leverage on card networks like Diners Club, Discover Network, MasterCard, Visa and UnionPay International, or alternative payment solutions, to find the most cost-effective cross-border payment mechanism. Aleta Planet’s global footprint across six jurisdictions and ability to collect local currencies are value-adds to DiMuto to scale their business globally.

Participants in the supply chain will be able to leverage the digital account’s ability to collect and pay in 14 different currencies at competitive exchange rates. Financing is also available through Aleta Planet’s partners including Asia Capital Pioneers Group (ACPG), the parent company of Aleta Planet. ACPG and DiMuto have worked together on a private financing deal involving the import of Vietnamese Basa fish into China.

Gary Loh, Founder and Chief Executive Officer of DiMuto, said: “Aleta Planet plugs two gaps in the all- in-one platform DiMuto offers customers to help them trade better with visibility. These are the payment and settlement, and financing services that are critical in helping to grease the flow of perishable produce.

“DiMuto’s mission is to redefine global AgriFood trade and to that end, we will continue to deploy the latest fintech applications and work with partners who can value-add and help our customers with insightful trade data so they can see the full picture in the messy middle of the retail supply chain.”

DiMuto has to date handled over 12 million pieces of AgriFood products with a gross merchandise value of more than US$17 million from customers in over 10 different countries including China, the world’s second largest economy.

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About Aleta Planet

Founded in 2014 in Singapore, Aleta Planet is an award-winning global payments solution provider that simplifies online, cross-border and multi-currency transactions safely, securely and efficiently. They are a holistic payments technology provider of merchant acquisition, card issuance, remittance and B2B payments. As a global payment facilitator that interconnects different payment options and types, Aleta Planet specialises in helping Chinese companies to scale the global market. Aleta Planet is licensed in Singapore by the Monetary Authority of Singapore as a Major Payment Institution and in other jurisdictions, with offices in Singapore, Hong Kong, Dubai, Australia and Malaysia. Its secure and internationally certified proprietary platform connects businesses to the world’s payment infrastructure through one Application Programming Interface, enabling business growth, greater customer engagement and new revenue opportunities.

The success of its card network-agnostic platform has also garnered Aleta Planet its operating licenses from card networks including Diners Club, Discover Network, JCB, MasterCard, Union Pay International Visa, SWIFT and other Alternative Payment Methods. Furthermore, Aleta Planet’s broad network enables individuals and businesses to deposit local currencies in 39 countries or remit funds to 140 countries.

For more information, please visit: www.aletaplanet.com

About DiMuto

DiMuto is an AgriFood Trade Solutions that powers global AgriFood Trade with Visibility and Financing. With its three pillars of Marketplace, Trade Management, and Trade Financing, DiMuto simplifies every step of global trade – from produce, trade to market, DiMuto provides sales, marketing, operations, financing and insurance tools so agribusinesses can get the data visibility they need to trade better and grow greater.

With DiMuto’s ability to capture AgriFood trades, make them visible and monetize them on a single platform, we create a more efficient, transparent and measurable ecosystem of sustainable global AgriFood trade.

With Visible Trade, DiMuto powers companies and the world forward with confidence.

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 contientns. DiMuto is founded by Chief Executive Officer Gary Loh, who is also the Executive Chairman of First Alverstone Group.

For more information, please visit www.dimuto.io

Media Contacts:

Catherine Ong Associates
Catherine Ong
cath@catherineong.com
+65 9697 0007

DiMuto
HuiMin Lee
huimin@dimuto.io
+65 9231 8607

DiMuto and Aleta Planet Announce Global Agrifood Fintech Partnership to Tap on China-ready Payment Gateway and Accelerate Trade Financing Services 

Singapore, 26 July 2022 – DiMuto, a global trade solutions platform, partners with Aleta Planet, a Singapore-based FinTech provider of B2B cross-border payment solutions, to support digital payments in and out of China on the DiMuto Platform to strengthen its Trade Financing services.

The collaboration will leverage Aleta Planet’s UnionPay SME Commercial Account services, offering a new payment and remittance option for physical goods trade payments to China and 141 other countries, as well as the ability to execute Local Deposits from 42 countries through Payment Rails such as UnionPay, WeChat Pay, Visa, Mastercard, JC and Discover.

The partnership will add to the DiMuto Payment Management module, with AP’s China-centric payment gateway making cross-border payments more efficient and transparent. Trade-related payments and financial transactions made using DiMuto’s Payment Management will be tracked seamlessly on a single Platform.

“DiMuto is pleased to partner with Aleta Planet to provide a seamless and secure experience when making cross-border payments in and out of China. Our customers now enjoy greater flexibility and visibility with the addition of this payment gateway option to our Payment Management module,” said Gary Loh, Founder and Chief Executive Officer of DiMuto. “Strengthening our ability to track trade payments will greatly open up opportunities for financing of trades on our platform.”

Cross-border trade finance is largely paper-based and vulnerable to fraud, due to the complex flow of transactions and multiple number of parties involved. This makes it challenging to ensure adequate oversight and prevent fraud and crime. The collapses of Hin Leong, Agritrade and Greensill has seen a tightening of credit facilities and a preference for financing larger players as part of a “flight to quality” trend, making it more difficult for small to medium traders and companies to get access to supply chain finance.

The DiMuto Payment Management allows financiers to gain visibility on payments made and received by the borrower companies for financed trades, on top of existing trade documents and product visibility enabled by the DiMuto Trade Management Platform. In addition to such visibility, the primary trade data and payment data collected on DiMuto Platform will be applied to DiMuto’s proprietary Trade Health AI model, to create objective and efficient trade health and credit scores. This actively reduces the risk of financing and enables offering of competitive rates for AgriFood SMEs that cannot rely on Letter of Credit for their trades and are unable to get traditional financing.

Building on a successful financing deal involving the import of Vietnamese Basa Fish into China, DiMuto will be working with Asia Capital Pioneers Group, the parent company of Aleta Planet, to accelerate its trade financing services.

“Asia Capital Pioneers Group’s partnership with DiMuto reflects our commitment to creating a digitalized trade finance ecosystem, where physical agricultural assets can now be tracked throughout the supply chain, to give greater assurance that these transactions meet the criteria set out in our

sustainability financing frameworks,” said, said Mr. Ryan Gwee, Chairman of Asia Capital Pioneers Group.

The financing partnership will drive forward the digital payments and financing aspect of DiMuto Trade Management Solutions, and the firm is expecting to finance more AgriFood companies that track their trade on the DiMuto Platform and is looking to raise funds to scale its financing solutions.

Mr Ryan Gwee (left), founder of Aleta Planet, and Mr Gary Loh, founder of DiMuto. ST PHOTO: NG SOR LUAN

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About Aleta Planet 

Founded in 2014 in Singapore by a team of professionals with strong business and technology expertise within the banking and finance industry, Aleta Planet is at the forefront of facilitating cross border payments to and from China. It specialises in end-to-end technology solutions for financial institutions and corporates. Aleta Planet provides payment services regulated under the Payment Services Act, governed by the Monetary Authority of Singapore. It focuses on a client-specific, solutions-oriented approach and has successfully delivered leading-edge technology solutions.  

Aleta Planet is also a direct acquirer and issuer of UnionPay International, offering cross-border, multi-currency transactions safely and securely. Being a Certified Principal Member of UnionPay International, Aleta Planet enables merchants to accept over 9 billion UnionPay cards issued globally. Additionally, Aleta Planet issues UnionPay commercial and retail cards. Aleta Planet also has presence in Hong Kong, Dubai, Australia and Malaysia and plans to expand to another five markets in next two years.  

Aleta Planet is also WeChat Pay and PayNow enabled, a principal member of JCB and a global acquirer for Discover and Diners Club. With this comprehensive offering, Aleta Planet seeks to accelerate networks beyond China to the rest of the world. 

For more information, please visit www.aletaplanet.com.  

About Asia Pioneer Capital 

Founded in 2011, Asia Capital Pioneers Group started as a Hong Kong-based family office to provide wealth management and legacy planning for some of Asia’s wealthiest families. It has developed a reputation of delivering above-market returns for its clients, through global investments within high growth industries such as real estate and fintech. As the controlling shareholder for several investments such as Songdo International Business District and payments fintech Aleta Planet, Asia Capital Pioneers Group has leveraged its management expertise, global connections, and business know-how to multiply the value of its investments. It also seeks to identify cross-synergies between its investment vehicles for greater efficiencies and business growth.   

For further information, visit www.asiacapitalpg.com   

About DiMuto 

DiMuto provides agrifood companies with data they can see and trust, down to every single product of every trade, where they can easily see all that is happening for every trade transaction in an organized manner, on one single platform.  

DiMuto simplifies every step of global trade – from produce, trade to market, DiMuto provide sales, marketing, operations, financing and insurance tools so businesses can trade better. 

Equipped with a data-backed growth roadmap, companies can now navigate the complex global trade landscape with ease and focus on what matters – growing a thriving international business. 

With Visible Trade, DiMuto powers companies and the world forward with confidence. 

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

DiMuto Launches B2B Marketplace to Connect Traceable AgriFood Suppliers and Buyers

Singapore, 12 July 2022 – DiMuto, a global AgriFood Trade Solutions company, announced today the launch of its B2B e-commerce marketplace that connects traceable AgriFood suppliers, growers and exporters to importers, wholesalers, and retailers. The multi-vendor marketplace creates a convenient, one-stop destination for the sale and procurement of AgriFood products.

The current AgriFood perishables industry is historically unorganized with an inefficient matching of demand to supply. DiMuto Marketplace enables AgriFood players to easily tap into a global commerce ecosystem of fresh and frozen fresh produce, livestock, meat and seafood products, regardless of their geographical location, and complete the ordering process digitally.

Once a buyer and seller links up and an order is placed on the DiMuto Marketplace, the trade is then tracked directly on DiMuto’s Trade Management Platform, where every carton of product is digitized, tracked, and unified with critical trade documents and payment information. This seamless connection between creating the sales and managing the order removes the organizational silos between buyers and sellers, as well as internally within the sales, procurement, shipping and finance departments.

Every action taken to move the trade towards completion will be seamlessly tracked and viewable via a Trade Timeline, so suppliers are able to effectively share necessary information to buyers such as bills of lading, certificates of origin, phytosanitary certificates and more. Buyers are also given a peace of mind when they can see product quality right from the farm and packhouse that is verified by DiMuto’s AI-powered Product Quality Score, while being able to share timely data on product arrival quality with a complementary Goods Receiver App.

In addition, companies can now know real, quantified metrics when it comes to the sustainability of their supply chain, down to the individual farmers that grew the food, and water and carbon footprint and view key metrices on the DiMuto Sustainability Dashboard.

“The DiMuto Marketplace is an exciting value proposition because it not only saves valuable resources on prospecting, it also allows companies to really measure and ensure the sustainability of their food supply chains by connecting to our Trade Management Solutions. We believe that with the ecosystem it brings to the table, the marketplace tool will certainly add tremendous value to our customers and the industry and pave the way to a future of digital AgriFood trade,” said Julie Escobar, Chief Commercial Officer of DiMuto.

The launch of DiMuto Marketplace is  one of the three engines behind the Agri-Fintech company’s vision to power global AgriFood trade with visibility and finance.  The company aims to scale its Marketplace, Trade Management and Financial Services pillars to grow and power its AgriFood Trade ecosystem of traceable and sustainable growers-exports, traders and retailers in the coming months.

“We are pleased to launch the DiMuto Marketplace. The Marketplace allows DiMuto to capture the trade, and connect it to our Trade Management Solutions that make these trades visible, which can then be financed through our Financial Services. With these three gears removing all the friction in global trade, DiMuto truly powers the AgriFood Trade with visibility and finance,” said Gary Loh, Founder and Chief Executive Officer of DiMuto.  

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About DiMuto

DiMuto provides AgriFood companies with data they can see and trust, down to every single product of every trade, where they can easily see all that is happening for every trade transaction in an organized manner, on one single platform.

DiMuto simplifies every step of global trade – from produce, trade to market, DiMuto provide sales, marketing, operations, financing and insurance tools so businesses can trade better.

Equipped with a data-backed growth roadmap, companies can now navigate the complex global trade landscape with ease and focus on what matters – growing a thriving international business.

With Visible Trade, DiMuto powers companies and the world forward with confidence.

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.

DiMuto Welcomes Patrick Vizzone to its Board of Directors

[PRESS RELEASE]

DiMuto, a global AgriFood Trade Solutions company, announced the appointment of Patrick Vizzone to its Board of Directors.

Patrick Vizzone brings over three decades of corporate and investment banking experience in food, agribusiness, and Asian markets. He is currently the managing director and head of Agri-Food for the Asia-Pacific alternatives group at Franklin Templeton. Previously, he was the international head of Food, Beverage & Agribusiness and Head of Hong Kong Coverage at the ANZ Banking Group. Prior to that, he was Asian head of institutional banking and head of food and agribusiness at National Australia Bank. Patrick has also served for over a decade as an Independent Non-Executive Director of China Agri-Industries, the Hong Kong-listed subsidiary of China’s COFCO Group, In addition, he is a member of the Board of Directors of the International Fresh Produce Association, where he sits on the Executive Committee as Secretary-Treasurer.

Gary Loh, Founder, and CEO of DiMuto commented, “We are pleased to welcome Patrick to the DiMuto Board. Patrick’s wealth of knowledge and experience in the Agribusiness and banking industry, particularly in Asia, will enhance DiMuto’s board and help shape the company’s future. We look forward to having his valuable perspective on our board.”

“I am delighted to join DiMuto’s Board of Directors. I believe there are significant opportunities to create value, and I am eager to collaborate with the team and my fellow Directors to guide the company’s strategy for long-term success,” said Patrick Vizzone, Board Member of DiMuto.

Patrick Vizzone joins existing board members including Gary Loh, Claire Pribula, Managing Director of The Yield Lab Asia Pacific, and Ryan Gwee, Managing Director of Asia Capital Pioneers Group and Chairman of Aleta Planet. 

Patrick Vizzone, Board Member of DiMuto

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About DiMuto

DiMuto provides agrifood companies with data they can see and trust, down to every single product of every trade, where they can easily see all that is happening for every trade transaction in an organized manner, on one single platform.

DiMuto simplifies every step of global trade – from produce, trade to market, DiMuto provides sales, marketing, operations, financing, and insurance tools so businesses can trade better.

Equipped with a data-backed growth roadmap, companies can now navigate the complex global trade landscape with ease and focus on what matters – growing a thriving international business.

With Visible Trade, DiMuto powers companies and the world forward with confidence.

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.

Global AgriFood Trade Solutions DiMuto Launches Farm Management Application to Empower Smallholder Farmers with Digitalized Farm to Fork Visibility & Financing Services

[PRESS RELEASE]
  • DiMuto, a global AgriFood Trade Solutions company, rolls out the Farm Management Application as an expansion of its all-in-one Platform. The DiMuto Farm Management feature helps smallholder farmers to digitalize farm records, transport, and sales information and improve the efficiency and visibility of their operations.
  • DiMuto Farm Management also digitally connects smallholder farmers to agronomists and procurement teams, equipping AgriFood companies with verified upstream farm data to better inform their agronomic and purchase decisions as well as work more closely with smallholder farmers for greater and more efficient output.
  • The Farm Management feature automatically connects to Production Management and Trade Management features of the DiMuto Platform, allowing companies to track the farm and lot that the AgriFood product originated from and follow it as it travels through the supply chain. Being able to track factors such as the farmers that grew the food, approved fertilizers, and the amount of water used highlights key social and environmental dimensions in purchasing decisions. This added visibility allows AgriFood companies to track key sustainability metrics with improved accuracy.   
  • Research estimates that 70% of smallholder farmers in global Agri supply chains live below the global poverty line of $3.20 a day, amounting to over 122 million people. The Digital Wallet function of the Farm Management app helps farmers track, receive and access digital payments – the digital payment rail creates a strong foundation for executing smallholder farmer financing and insurance opportunities, ensuring that loans can be directly and properly deployed to the farmers for verifiable purposes, such as improving the efficiency and sustainability of their farm operations to strengthen the resiliency of farming enterprises.
  • To tackle these systemic issues, DiMuto plans to implement Farm Management solutions and its financing offering with existing customers in Indonesia, Mexico, and Colombia.

Singapore, 17 May 2022 – DiMuto, a global AgriFood Trade Solutions company, launches DiMuto Farm Management, the latest feature in its all-in-one Trade Platform. DiMuto Farm Management digitalizes smallholder farm operations and achieves upstream supply chain visibility.

The DiMuto Farm Management application connects growing, harvesting, selling, and payments for better visibility of farm operations with its three functions – Grow, Sell, and Services. Using the DiMuto Farm Management Application, smallholder farmers can easily set up their digital identity on the Farm Management mobile application and connect their operations to their buyers such as procurement teams and agronomists from larger traders and packhouses within minutes. Through an intuitive interface, farmers can simplify farm administration, storing and accessing digitalized farm records, transport, and sales information easily. Additionally, they can also obtain yield estimates, track production, and get timely reminders to manage their field.  

DiMuto Farm Management Application

Such farm data is then automatically populated to an aggregated web dashboard for agronomists and procurement teams to track the farm and estimated harvests, giving more accuracy to supply planning. The Farm Management also seamlessly connects to Production Management and Trade Management features of the DiMuto Platform, allowing AgriFood companies to track the source of their AgriFood products and raw materials, down to the farm and lot that they originated from. As an added layer of verification, all supply chain data recorded on the DiMuto Platform is also uploaded on the blockchain, ensuring immutability and trust.

With increasing demands from consumers and governments for sustainable sourcing, this down-reaching level of supply chain visibility will help AgriFood companies track and verify key sustainability metrics.  For instance, AgriFood procurement teams are now able to track measures such as the farmer that grew the food, the number of approved fertilizers, and water being used for the products that they purchased – enabling them to work more closely with farmers on the ground to ensure sustainability practices. This is particularly important for companies to achieve supply chain sustainability, given that a McKinsey report has shown that 80 of large multi-national companies (MNCs)’ impact on air, land, water, biodiversity, and geological resources comes not from internal operations but from its supply chain, and most MNCs are struggling to assess supplier activities accurately and efficiently.

Research estimates that 70% of smallholder farmers in global Agri supply chains live below the global poverty line of $3.20 a day, amounting to over 122 million people. This is even though smallholder farmers produce a third of the world’s food.

The DiMuto Farm Management application also has a Digital Wallet function that helps farmers to track, receive and access digital payments. The payment rails will help DiMuto to execute smallholder farmer financing and insurance opportunities, allowing loans and payments to be directly deployed and rightfully received. The Digital Wallet is also connected to the Trade Management and the Grow aspect of the app, creating the ability to verify the purpose and usage of the loans, and ensuring that funds can be used for improved resiliency and sustainability of these smallholder farmers.

“We are very excited to launch the DiMuto Farm Management application and several projects are already in the works, with the support of partners who share the vision and see the potential for the Farm Management application to improve the livelihood of farmers they employ while ensuring the sustainability of their procurement operations,” said Julie Escobar, Chief Commercial Officer of DiMuto. “We truly believe this feature will greatly help growers, packers, shippers, importers, and retailers to have greater visibility on their buying and improve overall sustainability.”

The company has plans to implement the Farm Management application in Indonesia, Mexico, and Colombia. 

-end-

About DiMuto

DiMuto provides agrifood companies with data they can see and trust, down to every single product of every trade, where they can easily see all that is happening for every trade transaction in an organized manner, on one single platform.

DiMuto simplifies every step of global trade – from produce, trade to market, DiMuto provide sales, marketing, operations, financing and insurance tools so businesses can trade better.

Equipped with a data-backed growth roadmap, companies can now navigate the complex global trade
landscape with ease and focus on what matters – growing a thriving international business.

With Visible Trade, DiMuto powers companies and the world forward with confidence.

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

PT Sewu Segar Nusantara Partners DiMuto To Execute First Farming Blockchain Initiative In Indonesia

[PRESS RELEASE]

PT Sewu Segar Nusantara Partners DiMuto to Execute First Farming Blockchain Initiative in Indonesia for Food Safety and Supply Chain Visibility

  • DiMuto, a global AgriFood Trade Solutions company, has secured a partnership with PT Sewu Segar Nusantara (SSN), a leading local fruit distributor and marketer in Indonesia, to deploy blockchain traceability across PT SSN’s fresh produce products, for food safety and supply chain visibility. The partnership will start with Sunpride’s Pisang Mas products. 
  • SSN is part of Great Giant Foods, the corporate arm of Gunung Sewu Group and a leading vertically integrated food and agricultural products, which encompasses fresh and processed fruits,packaged foods, and beverage as well as protein and dairy products. SSN has a huge distribution network covering many cities in several major regions of Indonesia, through general trade and modern trade in collaboration with many sub-distributors, wholesalers, retailers, modern market to distribute Sunpride’s fresh fruit products.
  • SSN distributes and markets a variety of fresh fruits and specializes in local tropical fruits such as the Cavendish Banana, Honi Pineapple, and Crystal Guava grown on 35,600 HA of farmland by PT Great Giant Pineapple (GGP). SSN has also partnered with a large network of local farmers around 500 farmers to produce many types of products, including: Pisang Mas  in East Java; Papaya in Lampung; Rock Melon and Pamelo Oranges in Central Java; Golden Melon in West Java; Medan Oranges and Barangan Bananas in North Sumarta. In addition, Sunpride also has partnerships with international fruit brands, such as Zespri, which is a well-known Kiwi marketer from New Zealand.
  • The partnership will allow SSN to gain visibility from farm to retail level and engage end consumers with DiMuto Product Passport to further strengthen the Sunpride brand. SSN will deploy several of DiMuto’s Product Features including Trade Management, Product Management, Inspection Management and SMART Marketing to its domestic operations, connecting its sourcing team, warehouse team, quality team, sales team, and marketing team all on one single platform. 
  • There are additional plans to roll out DiMuto’s Farm Management feature to SSN’s network of local smallholder farmers with the aim of using digital technology to improve their livelihoods with comprehensive and accessible services – including adopting commercially viable and sustainable farming methods through education and training, access to credit and insurance, as well as downstream customer engagement by allowing farmers to record trades, track, receive and access payments.

Singapore, 25 February 2022

DiMuto, a global AgriFood Trade Solutions company that provides end-to-end supply chain visibility for global AgriFood Business, has partnered with PT Sewu Segar Nusantara (SSN), a leading local fruit distributor and marketer in Indonesia, to implement blockchain traceability to SSN’s fresh produce business, for food safety and supply chain visibility, starting with its Pisang Mas products.

SSN is part of Great Giant Foods, the corporate arm of Gunung Sewu Group and a leading vertically integrated food and agricultural products, which encompasses fresh and processed fruits, packaged foods, and beverage as well as protein and dairy products. SSN has a huge distribution network covering many cities in several major regions of Indonesia, through general trade and modern trade in collaboration with many sub-distributors, wholesalers, retailers, modern market to distribute Sunpride’s fresh fruit products.

SSN distributes and markets a variety of fresh fruits and specializes in local tropical fruits such as the Cavendish Banana, Honi Pineapple, and Crystal Guava. SSN’s plantations are nestled in Lampung on the southern tip of Sumatra, a key region for growing tropical fruit. One plantation owned and managed by Great Giant Pineapple in Terbanggi, Lampung Tengah, covers 35,600 HA. SSN has also partnered with a large network of local farmers around 500 farmers to produce many types of products, including: Pisang Mas in East Java; Papaya in Lampung; Rock Melon and Pamelo Oranges in Central Java; Golden Melon in West Java; Medan Oranges and Barangan Bananas in North Sumatra. In addition, Sunpride also has partnerships with international fruit brands, such as Zespri, a well-known Kiwi marketer from New Zealand.

As the market leader in Indonesia, SSN has implemented a blockchain traceability pilot project, starting with its Sunpride Pisang Mas products – the first Farming Blockchain Traceability of its kind in Indonesia via its partnership with DiMuto. SSN will deploy several of DiMuto’s Product Features including Trade Management, Production Management, Inspection Management and SMART Marketing to its domestic operations, connecting its sourcing team, warehouse team, quality team, sales team, and marketing team all on one single platform. 

Every Pisang Mas fruit and carton moved through SSN’s supply chain will be labelled with DiMuto’s Digitial Identity Labels (DIDs) and be digitalized with DiMuto’s various Digital Asset Creation (DACKY) devices. For instance, at remote packing houses where SSN’s sourcing team works directly with local farmers, a mobile application version of DiMuto’s Production Management specially developed for field operations will be used. 

(L: Sunpride Pisang Mas cartons labelled with DiMuto DIDs, R: SSN employees using DiMuto application to digitize Sunpride Pisang Mas)

The DiMuto Platform then connects digitized physical cartons and fruits to specific trades on its Trade Management feature – unifying product, document, and payment data for every purchase order. The ecosystem of product features on DiMuto enables SSN to see the flow of goods and the flow of money associated with the flow of goods on a single platform. 

As part of this exciting Farming Blockchain Traceability Initiative, SSN is currently working with distributors and retailers such as PT Super Lion Indo, to glean insights on produce quality at the retail level – this data is successfully captured with DiMuto’s Goods Receive Application.  Every transaction created on the DiMuto Platform is automatically uploaded on the blockchain, allowing for an immutable and trusted record of supply chain events. 

“We are pleased to work with DiMuto to deploy blockchain traceability to our supply chain for greater transparency that we can share with customers of Sunpride,” said Cindyanto Kristian, President Director of PT Sewu Segar Nusantara. “ With blockchain traceability we are now able to efficiently and effectively trace and track each banana down to a particular famer from a particular region as it travels through our supply chain.  We believe that the blockchain is the future of agri-food process. This helps us to better manage our product quality and safety for our consumers. “

For end consumers, SSN has launched Product Passports for its Sunpride Pisang Mas, enabling end consumers from the Jakarta and Surabaya regions to easily access product traceability information simply by scanning the DiMuto DID QR on the bananas. Consumers will be able to see pertinent provenance data, such as farm information and packing information for each fruit. They will also be able to learn more about the farmers, health benefits, brand information as well as provide feedback about the product directly to SSN. 

(L: Sunpride Pisang Mas with DiMuto DID QRs and Product Passport, R: Sunpride Product Passport)

“We are excited to leverage this opportunity with a leading company like PT Sewu Segar Nusantara to help them achieve full supply chain visibility that benefit the various stakeholders along the supply chain, including farmers, retailers and end consumers. By working closely with the local farmers to expand our traceability capabilities to the source, we can embark on smallholder farmer digitalization and financing as part of our vision to use data as a driving force behind sustainable agriculture,” said Gary Loh, Founder and Chief Executive Officer of DiMuto. 

There are also plans to implement DiMuto’s Farm Management feature to its network of smallholder farmers as part of its plan to trace its products down to the source and improving the farmers’ livelihoods through digitalization technology. Currently, only 1.7% of climate finance is going to small-scale farmers in developing countries despite their disproportionate vulnerability to climate change impacts and their contribution to 50% of the world’s food calories, according to a report by UN’s International Fund for Agricultural Development (IFAD) and Climate Policy Initiative (CPI). This is exacerbated by the fact that 78% of the world’s poorest live in rural areas and rely largely on agricultural work to make a living, as reported by World Bank. 

DiMuto’s Farm Management Application

The DiMuto Farm Management application provides comprehensive services to small-scale farmers, such as adopting commercially viable and sustainable farming methods through education and training, access to credit and insurance, as well as downstream customer engagement by allowing farmers to record trades, track, receive and access payments.      

DiMuto’s partnership with PT Sewu Segar Nusantara follows closely after the company secured its series A funding in September last year and is part of the company’s efforts to strengthen its presence in Indonesia, the world’s fourth most populous nation.

-end-

About PT Sewu Segar Nusantara

PT Sewu Segar Nusantara was founded in 1995 as a member of the leading investment group Gunung Sewu Kencana (GSK) which has broad expertise in several fields including food, agribusiness, life insurance, consumer goods, natural resources, information technology and property. The business units of the GSK group have established an extensive distribution network across the archipelago as well as strong supplier and retailer relationships.PT Sewu Segar Nusantara focuses on local fruit distribution and marketing in collaboration with PT Great Giant Pineapple to produce several local fruits grown in the Lampung area on more than 35,600 hectares of land including Cavendish Bananas, Guava Crystal and Honi Pineapple. In addition,SSN has also partnered with a large network of local farmers around 500 farmers to produce many types of products, including: Pisang Mas in East Java; Papaya in Lampung; Rock Melon and Pamelo Oranges in Central Java; Golden Melon in West Java; Medan Oranges and Barangan Bananas in North Sumarta.

About DiMuto

DiMuto provides agrifood companies with data they can see and trust, down to every single product of every trade, where they can easily see all that is happening for every trade transaction in an organized manner, on one single platform. 

DiMuto simplifies every step of global trade – from produce, trade to market, DiMuto provide sales, marketing, operations, financing and insurance tools so businesses can trade better.

Equipped with a data-backed growth roadmap, companies can now navigate the complex global trade landscape with ease and focus on what matters – growing a thriving international business.

With Visible Trade, DiMuto powers companies and the world forward with confidence.

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.

DiMuto Strengthens Executive Leadership by partnering with Nexus Agrotec’s Founder & President Julie Escobar

[PRESS RELEASE]

DiMuto welcomes Julie Escobar as the new Chief Strategy & Commercial Officer

  • DiMuto, a global AgriFood Trade Solutions company, further strengthens its executive leadership with the appointment of Nexus Agrotec’s Founder & President Julie Escobar as its Chief Strategy & Commercial Officer, who will be strategically advising DiMuto on all commercial & strategic areas of global growth.
  • Julie Escobar brings two decades of fresh produce industry experience to DiMuto with deep expertise in business development and export opportunities from Latin America to Europe and Asia. Her latest experience includes Senior Vice President of Partnerships at Renewable Resources Group, a stint as Vice President of Global Sales for Sun World International and overseeing international new business development for C.H. Robinson Worldwide.
  • Mrs. Escobar will be responsible for expanding DiMuto’s key commercial activities including global business development and go-to-market strategic execution. Mrs. Escobar will work closely with DiMuto’s Global Executive with the aim of accelerating DiMuto’s market presence in the US and Latin America markets.
  • The new addition to DiMuto’s Executive team comes off the back of the company’s Series A funding round late last year, and follows client wins and expansion including PT Sewu Segar Nusantara and SunMoon Food.

Singapore, 25 January 2022 – DiMuto, a global AgriFood Trade Solutions company that provides
end-to-end supply chain visibility for global AgriFood businesses, appointed Julie Escobar, Founder and President of Nexus Agrotec, as its Chief Strategy and Commercial Officer. Effective immediately, the pivotal new role will provide strategic leadership across the business and accelerate DiMuto’s market presence in the United States and Latin America region.

Leveraging two decades of fresh produce experience to the DiMuto team, Escobar will shape and define DiMuto’s strategy, priorities, and long-term direction in its key markets with her expertise in developing multimillion-dollar global business success and effectively leading international project teams across multiple lines of business, geographic borders, time zones, and culture.

“We are excited to partner with the Nexus Agrotec team, currently led by Julie. On our journey of international scalability, Julie’s experience is critical to our ability to grow and service our existing and new customer accounts,” said Gary Loh, Founder and Chief Executive Officer of DiMuto. “Julie is an outstanding veteran leader in the fresh produce industry and has helped companies achieve tremendous growth with domestic and international opportunities. I believe that she will be a valuable addition to get DiMuto to our next stage.”

Prior to her current position as Founder and President of Nexus Agrotec, a consulting firm helping AgTech businesses to expand sales growth around the world, Julie Escobar was the Senior Vice President of Partnerships at Renewable Resources Group, overseeing strategic investments in sustainable agriculture in countries such as Mexico, Colombia, and Peru. Before that, she was the Vice President of Global Sales for Sun World International, where she was instrumental in elevating the Sun World brand and building their export team.

In addition, Julie Escobar is the Co-Founder and President of Global Women Fresh, a global non-profit organization working to close the gender divide in the produce industry and provide opportunities for Women in Produce to network, connect and learn across the fresh food supply chain.


“DiMuto is uniquely equipped to help produce companies overcome the challenges of operating the ‘Messy Middle’ of international supply chains with its strong suite of trade solutions. The commitment to drive positive changes in the global agriculture landscape with data by using solutions that truly cater to how the industry operates is something I am proud to now be a part of,” said Julie Escobar, Chief Strategy and Commercial Officer of DiMuto. “I strongly believe that what DiMuto has to offer will provide great benefits to the different stakeholders in the agriculture industry. I cannot wait to help shape and drive the company forward.” The latest addition to DiMuto’s Executive team comes off the back of the company’s Series A funding round late last year and follows several industry partnerships with companies such as PT Sewu Segar Nusantara and SunMoon Food in Asia.

Julie Escobar, Chief Strategy & Commercial Officer of DiMuto

-end-

About DiMuto

DiMuto provides agrifood companies with data they can see and trust, down to every single product of every trade, where they can easily see all that is happening for every trade transaction in an organized manner, on one single platform.

DiMuto simplifies every step of global trade – from produce, trade to market, DiMuto provide sales, marketing, operations, financing and insurance tools so businesses can trade better.

Equipped with a data-backed growth roadmap, companies can now navigate the complex global trade
landscape with ease and focus on what matters – growing a thriving international business.

With Visible Trade, DiMuto powers companies and the world forward with confidence.

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

AgriFood Trade Solution DiMuto Raises US$2.35million Series A Funding to Advance Its Global Network and Agri-financial Services

[PRESS RELEASE]

AgriFood Trade Solution DiMuto Raises US$2.35million Series A Funding to Advance Its Global Network and Agri-financial Services

  • DiMuto, a global AgriFood trade solutions company from Singapore, bags US$2.35million in Series A funding led by The Yield Lab Asia Pacific. The Yield Lab is joined by SEEDS Capital, the investment arm of Enterprise Singapore, PT Great Giant Pineapple, Patrick Vizzone, Ocean Crests Investments, and Asia Capital Pioneers Group. Existing investors include SGInnovate and Latin Leap. DiMuto is also a portfolio company of PwC Singapore’s Venture Hub’s programme.
  • The latest funding validates recent progress and significant market opportunity, enabling DiMuto to scale up product development and meet growing demand for AgriFood trade visibility and trade financing.
  • DiMuto’s AgriFood trade solution unifies product, document and payments on a single platform, tracking the flow of goods along with respective flow of payments and creating a data-driven foundation for business visibility, trade financing, and insurance.
  • DiMuto’s AgriFood financing services tackle the US$1.9 Trillion global trade finance gap, estimated by experts to be as high as US$3.4 Trillion due to Covid-19, by making trade financing accessible to unbanked Small-Medium Enterprises (SMEs) in AgriFood trade that have long faced difficulties accessing formal financing due to factors like creditworthiness, collateral requirements, short-term liquidity, and political or currency risk.
  • By using proprietary technology developed using blockchain, cloud, IoT and AI to create combined visibility between movement of goods and movement of money on DiMuto Platform, DiMuto enables primary data collection for valuable insights allowing AgriFood business leaders to better manage their supply chain in a more efficient and sustainable manner.

Singapore, 21 September 2021 – DiMuto, a global AgriFood trade solutions company that provides end-to-end supply chain visibility for global AgriFood trade, today announced its successful US$2.35million Series A raise.  This round was led by globally prominent AgTech investor The Yield Lab Asia Pacific with participation from SEEDS Capital, the investment arm of Enterprise Singapore, PT Great Giant Pineapple, Patrick Vizzone, Ocean Crest Investments and Asia Capital Pioneers Group.  This round follows DiMuto’s pre-series funding in 2019 and 2020, which saw investments from SGInnovate and Latin Leap.

The Series A raise validates the company’s recent progress and significant market opportunity, despite the ongoing COVID-19 pandemic. Funds raised will enable DiMuto to scale up product development and meet the growing demand for AgriFood trade visibility as well as trade financing.

Creating product and data visibility for global AgriFood trade, DiMuto offers AgriFood supply chain stakeholders such as farmers, packers, exporters, traders, wholesalers, and retailers the ability to see the flow of goods and the flow of money associated with the flow of goods on a single Super Platform.  DiMuto effectively adds value by providing business intelligence with its ecosystem of applications and modules so that AgriFood companies can optimize their operations. The Super Platform generates up to 30% price premiums for traceable products as well as reduces up to 50% losses arising from trade disputes for its customers.

“DiMuto was really born out of my dual experiences of operating in the Finance world for 15 years and operating a global fresh fruits and vegetables marketer and distributor. During my ten-year stint in the food industry, I realized there’s an urgent need for business leaders to be able to see all aspects of their business right down to the granular detail of each box, each payment, and each receipt, as well as see the auxiliary service providers supporting their operations. Being able to capture and have the visual confirmation of such business data on a single platform helps business leaders run the organization better,” said Gary Loh, Founder and Chief Executive Officer of DiMuto.

DiMuto’s AgriFood trade solutions offer greater visibility through end-to-end global food supply chains, providing AgriFood business leaders with actionable insights that help them better manage their supply chain, both more efficiently and more sustainably. Complex yet siloed food supply chains have made it challenging for companies to maximize value from their supply chains and ensure adherence to green and sustainable practices. Globally, as revealed by a study from logistics company GEODIS, as many as 62% of companies worldwide have limited visibility of their supply chain, with only 15% of companies having visibility on “just in time” production and only 6% reporting full visibility.

“The Yield Lab is always looking for high-impact start-ups with technology solutions that sustainably revolutionizes the Global AgriFood system.  The benefits achieved in finding new innovation to increase yield in food production can only be felt if that food that is harvested, and processed, enters an efficient supply chain. The need for transparency of trade from farm to fork has long been discussed and desired, but yet still is not widely adopted.  What DiMuto has developed is technology that affordably integrates data into actionable insights, tracking the state of the trade while simultaneously providing meaningful value to each of the different constituents along the supply chain.  For the retailers, distributors, insurers, and the providers of transportation and with trade financing, with DiMuto finally a safe, efficient, accountable, and sustainable supply chain is now within everyone’s reach” said Claire Pribula, Co-founder and Managing Director of The Yield Lab Asia Pacific. “The fragility of global supply chains was made evident at the height of the COVID pandemic, causing significant supply chain disruptions. DiMuto provides the ability to smooth out irregularities, increasing the shelf life and diminishing food waste.”

“Asia Capital Pioneers Group sees immense potential for trade technology solutions like DiMuto. There are also synergies with our investment in payments fintech Aleta Planet, whose account issuance capabilities can power DiMuto’s e-wallet, to plug the payment component within DiMuto’s ecosystem. We believe this can be scaled to a much larger audience across the globe and are excited to be a part of this avant-garde technology,” said Mr. Ryan Gwee, Chairman of Asia Capital Pioneers Group.

With its Produce, Trade and Market modules, DiMuto provides visibility on product quality, documents, and payment records for each stage of the supply chain. From pre-shipment farm production through to post-shipment product receipts, DiMuto enables AgriFood companies to fully see their supply chain, providing essential quantitative data that helps them to monitor and manage Environmental, Social and Governmental (ESG) risks across their global supply chains. The ability to capture and organize such data also helps DiMuto’s financing services to verify that ESG standards are met as part of its green finance and impact investing initiative.

“PT Great Giant Pineapple prides ourselves on our green agricultural practices and putting our farmers at the heart of what we do. Having the ability to visualise our operations all on a single platform will certainly enable a global company like ours to better run our business and improve on our mission. We believe that data visibility and supply chain digitalization is the next forefront of the AgriFood industry, and we are excited to support the application of DiMuto’s solutions,” said Husodo Angkosubroto, majority shareholder of PT Great Giant Pineapple. PT Great Giant Pineapple is one of the top three producers of pineapples worldwide supplying of the world’s canned pineapples, with businesses involving fresh produce distribution and export as well.

By using its proprietary technology developed using IOT, cloud, blockchain and AI to create combined visibility between movement of goods and movement of money on the DiMuto Platform, The Company has further developed its own Proprietary Visual Inspection Module to help standardise the specification of fresh produce using AI. DiMuto thus enables primary data collection for valuable insights allowing AgriFood business leaders to better manage their supply chain in a more efficient and sustainable manner.

DiMuto’s unique ability to digitalize and unify product, document and payment on a single platform helps form a more accurate profile of Small and Medium Enterprises (SMEs) that is data-driven, and trade-centric, enabling SMEs to access alternative trade financing opportunities.  Globally, the current US$1.9 Trillion trade finance gap is estimated, by the International Chamber of Commerce (ICC), to increase to US$3.4 trillion due to Covid-19. The trade financing gap has hit SMEs the hardest, with over 40% of trade finance applications by SMEs being rejected, as stated by Asian Development Bank (ADB). Despite being the largest contributor to the economy and employment, SMEs struggle to obtain financing from traditional institutions, due to factors such as creditworthiness, collateral requirements, short-term liquidity, and political or currency risks. Helping to counter these factors, DiMuto has developed its proprietary TRADE HEALTH AI module to generate a grading score and a credit score to manage the credit risk of the trade. Based on this, DiMuto will be able to fill the trade financing gap by offering financing for its AgriFood customers.

Despite Covid-19, DiMuto has executed implementations in Indonesia, China, South Africa, Ghana, Malaysia, Kenya, and Colombia over the last six months, with 25 more projects in the pipeline. The company has specifically designed their proprietary digitalization devices, otherwise known as a Digital Asset Creation device (DACKY), in the form of a flyaway kit that enables implementation on the ground to be easily completed in as short as one week.

“I am truly humbled and honoured to have such a broad group of stakeholders, resulting in a unique combination of people and organization to solve a truly global problem of food waste and trade visibility. By removing the friction and inefficiency, we are focusing the use of data to truly build a more Green and sustainable future,” Loh adds. In the near future, the company expects rapid growth with existing and new client partners, providing DiMuto with a key opportunity to expand DiMuto’s portfolio and trade financing applications.    -end-  

About The Yield Lab The Yield Lab Asia Pacific is an AgTech focused fund and part of the global The Yield Lab network of regional Funds based in North America, Europe, Latin America and Asia Pacific.  Created in 2014 as the first early-stage Seed and Series A fund devoted to identifying and advancing Agriculture industry innovation.  Managed by industry experienced teams who have the knowledge, relationships and vision to stimulate, invest and scale sustainable AgTech innovations, The Yield Lab invests across all Agriculture sectors:  Crop Production,  Animal Health,  Precision Agriculture,  Sustainability, Supply Chain and Food Ingredients, in order to deliver financial results alongside positive impacts that solve the global problem of feeding 10B people by 2050 sustainably. For further information please visit: www.theyieldlab.asia

About SEEDS Capital As the investment arm of Enterprise Singapore, SEEDS Capital catalyses smart investments into innovative Singapore-based startups with strong intellectual content and global market potential. We co-invest with independent investors in innovative startups. We help our startups commercialize and expand globally through leveraging on the expertise and strategic networks of our co-investment partners in areas such as technology translation, commercialization and market expansion. Through co-investments, SEEDS Capital aims to catalyze investments into nascent and strategic sectors. These include Advanced Manufacturing & Engineering, Health & Biomedical Sciences, Urban Solutions & Sustainability, and Services & Digital Economy.  

About PT Great Giant Pineapple PT Great Giant Pineapple (GGP) has become the largest private label manufacturer of canned pineapples in the world and a prominent source of premium pineapples and fresh fruits. The company currently exports more than 15,000 containers to over 60 countries worldwide and has a representative company in the USA, Singapore, Japan, and South Korea. Boasting extensive plantations, one in every four canned pineapples in the world today originates from GGP. Aside from canned pineapple, pineapple jam, pineapple cubes in cups, and pineapple juice concentrate, GGP also produce canned tropical fruit cocktail. For further information, visit www.greatgiantpineapple.com

About Asia Capital Pioneers Group Founded in 2011, Asia Capital Pioneers Group started as a Hong Kong-based family office to provide wealth management and legacy planning for some of Asia’s wealthiest families. It has developed a reputation of delivering above-market returns for its clients, through global investments within high growth industries such as real estate and fintech. As the controlling shareholder for several investments such as Songdo International Business District and payments fintech Aleta Planet, Asia Capital Pioneers Group has leveraged its management expertise, global connections, and business know-how to multiply the value of its investments. It also seeks to identify cross-synergies between its investment vehicles for greater efficiencies and business growth. For further information, visit www.asiacapitalpg.com 

About DiMuto DiMuto simplifies every step of global AgriFood trade. From produce, to trade, to market, our AgriFood Trade Solutions help growers, exporters and importers to trade efficiently with better visibility and finance. Equipped with a data-backed growth roadmap, companies can now navigate the complex global trade landscape with ease and focus on what matters – growing a thriving international business. With Visible Trade, DiMuto powers companies and the world forward with confidence. Since 2019, DiMuto has successfully tracked and traced millions of pieces of produce and millions in dollars of trade value on the DiMuto platform, working with a global portfolio of clients in over ten countries on 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 ## For media queries, please contact: HuiMin Lee Email: huimin@dimuto.io