DiMuto secures US$5.9m to boost global agri-food chain traceability
The round, which was led by the Yield Lab Asia Pacific, saw contributions from 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$2.35 million fundraise in 2021.
DiMuto said the fresh capital will bolster expansion into key markets, particularly in Latin America and the US, as well as fast-track the enhancement of its digital ecosystem.
DiMuto’s core technology enables end-to-end visibility of the agri-food supply chain. For example, its trade management platform digitises products for quality assurance and data visibility. Its traceable marketplace connects verified buyers and suppliers to enhance transparency and trust. Its financial services provide post-shipment trade financing to drive agri-food business growth.
This holistic approach boosts operational efficiency and strengthens the entire supply chain. Since 2019, DiMuto says it 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 10 countries and five continents.
DiMuto was founded by Gary Loh after a decade of running a global fruit and vegetable company SunMoon Food.
“In a year marked by global economic challenges, this influx of capital is a resounding validation of the company’s growth trajectory,” said Loh, “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 agri-trade.”
Lim Hwee Hai, managing director of SiS Asset Management added: “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.”
Climate-smart food
DiMuto also plans to broaden its marketplace arm and venture into greenhouse-based agriculture to develop climate adaptive crops.
This move aims to 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 agri-food sector,” the company added;
“With this fresh capital, DiMuto is set to accelerate its mission of transforming the agri-food supply chain through digitalization, enhancing transparency, and fostering sustainability across the industry.
"By traders for traders, we want to help agri-food 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."
