Agri-food trade tech solutions platform DiMuto has raised an undisclosed investment from SGInnovate while Thailand’s 500 TukTuks has invested in 10 new startups from its second vehicle.
DiMuto raises capital from SGInnovate
Agri-food trade tech solutions platform DiMuto has raised an undisclosed sum from Singapore government-owned firm SGInnovate, according to an announcement.
Founded by Gary Loh, DiMuto creates traceability for every single fruit as they move 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 digitalises the agri-food supply chain for data visibility and trade transparency, aiming to solve industry challenges.
The funding and support from the government-owned venture firm will expedite global growth for DiMuto in new target markets, the company said.
Currently, DiMuto has presence in 7 countries including US, China, Indonesia, Australia and Mexico.
The new funding will enable the firm to tap growth in markets such as Europe and Latin America in the next few months.
SGInnovate builds and scales deep tech startups into high potential companies with global impact. The firm backs entrepreneurial scientists through equity-based investments around emerging technologies such as artificial intelligence, autonomous tech, medtech and quantum Tech.
Thailand’s 500 TukTuks invests in 10 new startups
500 TukTuks, a Thailand-focused micro-fund of US-based 500 Startups, has announced the 10 new startups that it has backed from its second fund.
The 10 new startups include Volt14; ShweProperty; Portier; Salutat; Trustless which cover areas like nanotech, property, mobile solutions, finance, blockchain. Meanwhile, Papaya; GetVan; HungryHub; OpenDurian and SiamCarDeal are into healthcare, transportation, lifestyle, e-education and digital solutions.
500 TukTuks II, launched in June 2018, had hit the first close of its $20-million fund, securing investments predominantly from Thai corporates including Central Group, Southeast Group, Saha Pathana Inter-Holding, TC Pharmaceuticals, The Vacharaphol, and Sermsang Power.
500 TukTuks II follows 500 TukTuks I, which participated in 51 seed and pre-series A rounds.