DiMuto secures $5.9m from Seeds Capital, SGInnovate

DiMuto founder and CEO Gary Loh / Photo credit: DiMuto

DiMuto, a Singapore-based startup that provides food supply chain solutions, has secured US$5.9 million in a series A round led by The Yield Lab Asia Pacific.

Existing investors SGInnovate, Great Giant Pineapple, and Seeds Capital – the investment arm of Enterprise Singapore – also joined the fundraise. Other investors who participated in the round include Sis Cloud Global Tech Fund 8, Gold Sceptre, and Dave Chen.

The funds will bolster DiMuto’s expansion into key markets such as Latin America and the US. It will also fast-track the enhancement of the firm’s digital ecosystem.

The series A round follows a US$2.4 million fundraise in 2021.

Founded in 2019, DiMuto provides digital solutions for the agrifood industry. These include its trade management platform, which digitalizes products for quality assurance and data visibility, and its marketplace business, which connects verified buyers and suppliers to enhance transparency and trust.

The company plans to broaden its marketplace arm and venture into greenhouse-based agriculture and climate-adaptive varietal development. It said that this will enhance year-round supply resilience and scale its private label, SoLuna Fresh, which markets traceable fresh produce from Latin America into Asia.

“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,” said Gary Loh, founder and CEO of DiMuto.

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This story was republished with permission from The Business Times. It was moderately edited to reflect Tech in Asia’s editorial guidelines.