AgriFood trade solutions company DiMuto raised $5.9 M Series A funding for global expansion
The Singapore-based AgriFood trade solutions company DiMuto has closed its Series A funding round with success, raising $5.9 million in total.
DiMuto said in a statement on Tuesday that notable investors including SiS Cloud Global Tech Fund 8, Gold Sceptre Limited, and Dave Chen contributed to the round, which was led by The Yield Lab Asia Pacific.
Participating in the round were returning investors, including SEEDS Capital, SGInnovate, and PT Great Giant Pineapple, who had previously invested in DiMuto’s $2.35 million fundraising campaign in 2021.
The statement claims that the calculated capital infusion will accelerate the development of DiMuto’s cutting-edge digital ecosystem and support the company’s entry into important markets, mainly in Latin America and the United States.
In addition to demonstrating investor confidence in DiMuto’s creative strategy, it pointed out that the most recent Series A funding opens the door for the company to maintain its leadership position in the global agri-food industry.
With this additional funding, according to DiMuto, the company will be able to quickly carry out its objective of digitally revolutionizing the AgriFood supply chain, improving transparency, and encouraging sustainability in the sector.
Along with expanding into greenhouse agriculture and climate-adaptive varietal development, the company also intends to broaden its marketplace arm.
This action will improve the company’s private label, SoLuna Fresh, which has successfully marketed traceable fresh produce from Latin America into Asian markets, especially in the tropical and berry categories. It will also help scale the business’s year-round supply resilience.
“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,” said Gary Loh, Founder and Chief Executive Officer of DiMuto.
DiMuto is a company that connects and builds a sustainable global AgriTrade ecosystem through technology.
Gary Loh, who serves as First Alverstone Group’s Executive Chairman, founded the company.
Since 2019, the company has worked with a global portfolio of clients in more than ten countries and five continents, successfully tracking and tracing millions of pieces of produce and millions of dollars of trade value on its platform.
With its three pillars—the marketplace, trade management, and trade financing—the company supports AgriFood trading.
For data visibility and quality control, every carton of AgriFood products is digitalized by the trade management platform.
