Startup DiMuto, which provides FOOD supply chain solutions, announced on that it has raised $5.9 million in funding during its Series A round.
The Yield Lab Asia Pacific, a venture capital firm, led the round. Great Giant Pineapple, SGInnovate, and Seeds Capital—the investment branch of Enterprise Singapore—joined the round as current investors. Dave Chen, Gold Sceptre, and Sis Cloud Global Tech Fund 8 are among the other investors.
The new funding will accelerate the development of DiMuto’s digital ecosystem and support its entry into important areas including the US and Latin America. The US$2.35 million fundraise in 2021 is the precursor to the Series A round.
The Singapore-based firm was established in 2019 and offers digital solutions to the agri-food sector. These include the marketplace business pillar, which links verified buyers and suppliers to improve transparency and confidence, and its trade management platform, which digitizes products for quality assurance and data visibility.
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DiMuto plans to broaden its marketplace arm and venture into greenhouse-based agriculture and climate-adaptive varietal development.
The startup said this will enhance year-round supply resilience and scale its private label, SoLuna Fresh, which markets traceable fresh produce such as berries from Latin America into Asia markets.
Gary Loh, founder and CEO of DiMuto, said: “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.”
DiMuto intends to expand its marketing division and go into greenhouse farming and the creation of climate-adaptive varietals.
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According to the business, this will improve the robustness of the supply chain throughout the year and help it grow its private label, SoLuna Fresh, which sells traceable fresh food into Asian markets, like berries from Latin America.
About DiMuto
DiMuto uses AI, Data Visibility, and Finance to establish and connect a sustainable, global AgriTrade ecosystem. DiMuto covers every part of AgriFood trading with the three areas of Marketplace, Trade Management, and Trade Financing, reinventing products management from farm to table by seamlessly and simply connecting and visualizing every stage.
