Technology is not just a tool but a catalyst for transformation, particularly in industries as complex as agri-food or agritech. Many companies are leveraging cutting-edge technologies such as AI, blockchain, and IoT to manage the global food supply chain.
Take DiMuto, a Singapore-based agritech company, as a prime example. Recently securing US$5.9 million in Series A funding, DiMuto wants to expand its global footprint and enhance its digital ecosystem. The company uses technology to better manage the challenging global food industry, while aiming to scale into new markets.
To find out more, we got a chance to speak to Founder & CEO, Gary Loh about the new funding, the challenges in the market and the industry as a whole. The fragmented local region presents both opportunities and challenges, so we wanted to find out what the industry has to do to move forward.
Congrats on the fundraise. How do you plan to allocate those funds?
Thank you! With the US$5.9 million secured in our Series A funding, our primary focus is on expanding our global footprint, particularly in key markets that have shown a high demand for digital traceability solutions. We'll also be enhancing our digital ecosystem, which includes further development of our existing technology and possibly integrating innovations to better serve our clients. Additionally, a portion of these funds will be used to strengthen our team with strategic hires to support our expansion goals.
How big is the issue you're trying to solve?
The global agrifood industry faces massive challenges, made more daunting by the fact that agriculture remains one of the least digitized sectors in the world. Annually, one-third of all food produced globally is wasted, translating to about US$1 trillion and 1.3 billion tonnes of food lost. This inefficiency spans the entire supply chain, affecting producers, distributors, and retailers alike. Additionally, the industry endures approximately $48 billion in losses each year due to climate-related events like droughts and floods.
The digitization gap is particularly acute among smallholder farmers, who produce a third of the world's food yet have less than 10% access to the necessary financing to grow their businesses. This lack of access extends to many other stakeholders within the supply chain who face similar operational and financial constraints. DiMuto is dedicated to addressing these challenges by enhancing traceability and operational efficiencies across the entire agrifood supply chain. Our digital solutions aim to reduce waste, mitigate the impact of climate change, and improve the economic sustainability of all stakeholders, paving the way for a more digitized and efficient future.
Previously, you mentioned that Southeast Asia is a fragmented market, have you seen any change or growth?
Southeast Asia continues to be a fragmented market due to varying regulations, levels of technological adoption, and infrastructural disparities across countries. However, we have observed promising growth in the adoption of digital solutions within the region. More businesses are recognizing the importance of supply chain visibility for operational efficiency, compliance and consumer trust.
Furthermore, the region is actively enhancing its ESG frameworks to align with global standards, reshaping business operations and investment priorities. Southeast Asia is implementing new financial taxonomies and enhancing ESG disclosure rules, which are crucial for fostering sustainable finance. These measures are vital for the integration of local markets into the global economic system.
As DiMuto continues to expand in this region, we are leveraging these evolving regulations and the shift towards sustainability to offer tailored solutions that meet the unique challenges and opportunities of each market. Our commitment to adapting our approach allows us to effectively support the diverse needs of our clients, ensuring they can thrive in a rapidly changing business landscape.
What are the biggest challenges you face with scale?
As we push forward with our mission to transform the global AgriFood industry, one of our most significant challenges has been addressing the varying levels of awareness about the benefits of traceability across different stakeholders. At DiMuto, we tackle this by pinpointing key influencers within the supply chain—those who can showcase the real value of our platform to their peers. By demonstrating tangible benefits, such as reduced claims, faster resolution of disputes, and enhanced operational efficiency, we are not just promoting our technology but also fostering a broader acceptance across suppliers, traders, and buyers.
Another challenge is the complexity of operating globally with clients who have different needs. To manage this, we have strategically established a geographically diverse team that maintains a strong presence in critical regions like Latin America, Asia-Pacific, and the United States. This allows us to provide localized support, ensuring the successful operational deployment of our systems and round-the-clock customer service.
What's next for DiMuto?
Looking forward, DiMuto is set to continue our mission of redefining global AgriTrade by expanding our platform's capabilities into new verticals such as seafood and meat, where we have already made significant headway.
We are dedicated to integrating more advanced AI-driven data analytics to make our platform smarter and more intuitive, so users to easily interpret complex data and make quicker, more informed decisions.
Additionally, DiMuto continues to grow our global footprint and drive innovation through strategic partnerships with fintech, payment, and insurance companies. These collaborations aim to offer integrated digital wallets and payment solutions tailored for global trade.
We also remain committed to adapting to regulatory changes, such as those outlined in the FDA FSMA, while providing our clients with the tools necessary to track and improve their ESG metrics.
We are confident that our global presence and focus will help us stay ahead of market trends and set new industry standards for an exciting sustainable food future!
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