Asia Digest: SGInnovate invests in DiMuto; 500 TukTuks backs 10 startups

Organic peppers sit inside baskets in a greenhouse at a showcase farm operated by Penglai Hesheng Agricultural Technology Development Co. in Penglai, Shandong Province, China, on Thursday, Feb. 16, 2017. Photographer: Qilai Shen/Bloomberg

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.

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.