DiMuto, a pioneering AgriFood trade solutions company based in Singapore, has announced the successful closure of its Series A funding round, amassing a significant US$5.9m.
This financial injection was led by The Yield Lab Asia Pacific, with notable contributions from SiS Cloud Global Tech Fund 8, Gold Sceptre Limited, and Dave Chen.
The round also saw continued support from previous backers such as SEEDS Capital, SGInnovate, and PT Great Giant Pineapple, who had participated in DiMuto’s initial US$2.35m funding round in 2021.
Operating at the nexus of technology and global food supply chains, DiMuto integrates cutting-edge solutions like AI, blockchain, and IoT to drive digital transformation. This latest capital infusion is set to propel the company’s expansion into critical markets, particularly in Latin America and the United States, while accelerating enhancements to its robust digital ecosystem.
DiMuto is not just another tech company; it is transforming the AgriFood industry through its innovative tri-layer digital solutions. Its Trade Management Platform ensures quality assurance and data visibility by digitizing every carton of AgriFood products. The platform’s traceable Marketplace fosters transparency and trust by connecting verified buyers and suppliers, while its Financial Services offer vital post-shipment trade financing, promoting the growth and business efficiency of AgriFood companies.
The company plans to use the new funds to broaden its Marketplace offerings and venture into greenhouse-based agriculture and climate-adaptive varietal development. These initiatives aim to boost year-round supply resilience and expand DiMuto’s private label, SoLuna Fresh, which has been marketing traceable fresh produce from Latin America to Asian markets, focusing on tropical and berries categories.
DiMuto’s CEO, Gary Loh, shared his vision for the company’s future, stating, “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.”
Adding to the positive sentiment, Lim Hwee Hai, Managing Director of SiS Asset Management, commented on their investment, “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.”
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