DiMuto Completes Series A Funding, Securing US$5.9 Million to Propel Global Expansion and Enhance Its Digital Ecosystem - DiMuto
Summary
The round, which was led by The Yield Lab Asia Pacific, saw contributions from prominent 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 DiMutos earlier US$2.35M fundraise in 2021.DiMuto stands at the forefront of digital transformation in the global food supply chain by integrating advanced technologies such as AI, blockchain and IoT. This holistic approach boosts operational efficiency and strengthens the entire supply chain, position DiMuto as a game changer in the AgriFood industry.Gary Loh, Founder and CEO of DiMuto, expresses the companys excitement, In a year marked by global economic challenges, this influx of capital is a resounding validation of the companys 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.Commenting on the successful closing of the bridge round, Lim Hwee Hai, Managing Director of SiS Asset Management says, 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 DiMutos real-time data capture and AI-driven financial scoring are poised for great success.DiMuto also plans to broaden its Marketplace arm and venture into greenhouse-based agriculture and climate-adaptive varietal development. DiMuto aims to solve the global issue of food resilience and supply chain inefficiencies.By traders for traders, we want to help AgriFood 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.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.