- DiMuto raises $5.9M for agritech expansion
- Startup aims to enhance digital ecosystem and enter new markets
- Funding validates growth trajectory amid global economic challenges
Seeding Growth
Singapore-based DiMuto has just secured a juicy $5.9 million in series A funding, led by The Yield Lab Asia Pacific.
The agritech startup, which provides digital solutions for the food industry, plans to use this capital to expand into Latin America and the US markets, enhancing its digital ecosystem along the way.
From Farm to Phone
Founded in 2019, DiMuto’s arsenal includes a trade management platform that digitalizes products for quality assurance and a marketplace connecting verified buyers and suppliers.
The company aims to broaden its marketplace and dive into greenhouse-based agriculture and climate-adaptive varietal development, bolstering year-round supply resilience.
Fresh Funds for Fresh Produce
This latest round, following a $2.4 million raise in 2021, attracted investors like SGInnovate, Great Giant Pineapple, and Seeds Capital. DiMuto’s CEO, Gary Loh, sees this investment as a validation of the company’s growth trajectory, particularly amid global economic challenges.
The funds will also help scale SoLuna Fresh, DiMuto’s private label for traceable produce from Latin America.
To read the original article: https://www.techinasia.com/food-supply-chain-firm-dimuto-secures-s59m-market-expansion
