Agri-Food Trade Tech Solutions Platform DiMuto Secures Investment from SGInnovate | Techsauce

Agri-Food Trade Tech Solutions Platform DiMuto Secures Investment from SGInnovate

DiMuto, a trade tech solutions platform that provides end-to-end supply chain visibility for global businesses, is the latest portfolio company under SGInnovate. DiMuto is backed by the Singapore Government-owned venture firm to tackle global trade and supply chain problems with its technology.

Credit : DiMuto

Using blockchain, IoT and AI in its trade solutions, DiMuto digitalizes the agri-food supply chain for data visibility and trade transparency, aiming to solve the industry's various challenges, including the staggering US$110 billion loss stemming from food safety breaches each year, as discovered by a 2018 World Bank study.

Credit : DiMuto

“Food security, safety and provenance are some of the biggest issues in the global food system today. DiMuto seeks to tackle these issues with blockchain-based solutions that can bring greater transparency to the Agri-Food supply chain. This demonstrates how Deep Tech can be applied in the real world to create an impact. We are excited to support them in their journey to expand to new markets and contribute to bringing safe and sustainable food for all,” said Hsien-Hui Tong, Head of Venture Investing, SGInnovate. 

Credit : DiMuto

DiMuto creates traceability for every single fruit as they move through the supply chain – from farms, factories, cold chain to distribution channels and end consumers. Through its proprietary Digital Asset Creation devices (DACky), DiMuto tags each fruit and carton with QR labels and captures images of every carton. Data such as relevant trade documents is then associated with the product information and uploaded onto its blockchained trade platform, effectively reducing disputes over quality and creating trust amongst trade parties. "We would like to thank SGInnovate for believing in our vision to redefine trust in the global trade landscape. With data captured using our solutions, stakeholders in the agri-food supply chain are now  able to solve key challenges such as food traceability, trade disputes, as well as trade financing," said Gary Loh, Founder and Chairman of DiMuto. 

Credit : DiMuto

To date, DiMuto has tagged over 30 million fruits and tracked and traced over US$100million worth of agrifood trades. With presence in 7 countries including US, China, Indonesia, Australia and Mexico, the new funding and strategic support from SGInnovate will allow DiMuto to further capitalize on its global growth momentum, and help drive further international expansion into new markets such as Europe and Latin America in the next few months.

ลงทะเบียนเข้าสู่ระบบ เพื่ออ่านบทความฟรีไม่จำกัด

No comment

RELATED ARTICLE

Responsive image

SCB Yuan Pro Rata Forward Service pioneering online forward foreign exchange for entrepreneurs

SCB Yuan Pro Rata Forward, a tool to manage exchange rates effectively and mitigate risks associated with Yuan fluctuations....

Responsive image

DataX shines in AI and LLMs personnel talent, securing dual global honors at "NeurIPS 2023 Challenge"

DataX ultimately clinching two prestigious awards at the "NeurIPS 2023 Challenge," hosted by AI at Meta and Microsoft Research in New Orleans in the USA....

Responsive image

Palo IT Unveils Groundbreaking 'Matcha Initiative' to Revolutionize Technology and Foster Innovation

Palo IT, a leading technology company, has recently introduced the innovative 'Matcha Initiative,' aiming to bring about a transformative shift in the tech landscape...