SG’s agrifood tech firm DiMuto raises funding from Latin Leap

Photo: veeterzy/Unsplash

Singapore-based agrifood trade tech solutions platform DiMuto has raised an undisclosed sum from venture capital studio Latin Leap to help drive further international expansion in Latin America, according to an announcement.

Founded by executive chairman Gary Loh, who is also the Executive Chairman of First Alverstone Group, DiMuto creates traceability for every single fruit as it moves through the supply chain – from farms, factories, cold chains to distribution channels and end consumers.

Using blockchain, IoT and AI in its trade solutions, it digitalizes the agri-food supply chain for data visibility and trade transparency, aiming to solve industry challenges.

The company claims that it has tagged over 30 million fruits and tracked and traced over $100 million worth of agrifood trades to date. It has a presence in 7 countries including US, China, Indonesia, Australia and Mexico.

The new funding from Latin Leap will enable DiMuto to further capitalize on its global growth momentum and help drive further international expansion in new markets in Latin America over the next few months.

“DiMuto fits perfectly into our investment thesis of soft-landing tech-enabled businesses with a positive impact on society in Latin America. We are proud to accompany its growth path in the region,” said Stefan Krautwald, General Partner of Latin Leap.

Latin Leap is a newly formed venture capital studio, focusing on opening up opportunities in Latin America for Southeast Asian tech-scale ups. It is set to base its fund structures out of Singapore, with the aim of becoming a partner in the internationalization of the region’s tech sector.

Most recently, DiMuto raised an undisclosed sum from Singapore government-owned firm SGInnovate.

Last July, DiMuto and PwC Singapore’s Venture Hub announced a strategic partnership that will help the latter scale up its operations in the agri-food cold chain market globally.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.