SG traceability technology startup The GrowHub raises $3m and other SE Asia deals

The GrowHub, Singapore’s food and carbon traceability technology startup, has announced raising $3 million in its pre-Series B funding round to continue building its technology offerings.

The funding round was backed by a number of strategic individual investors, including the company’s CEO and founder Lester Chan, according to the announcement.

The GrowHub enables producers and consumers to track, market, and understand consumer behaviour and patterns using its proprietary Web3, NFC, and QR code solutions.

Specifically, the startup tracks the footprint of food from producer to consumer. It also facilitates transparent and reliable carbon credit tracing with its SaaS platform. In 2022, The GrowHub posted an estimated revenue of $750,000.

“We are always looking for ways to adapt and tailor our offerings in the market according to producers’ and customer’s needs, with a view of mitigating global trust problems around food production, supply chains, and carbon traceability,” Chan said.

On top of the additional funding raised, the startup also announced the official appointment of Chai Chun Kiat as CTO and Aaron Loo Jian Lin as chief innovation officer, along with Sam Yen Rong Jiun, who will be joining The GrowHub’s advisory board.

SOUTHEAST ASIA DEAL MONITOR

DealStreetAsia has put together a table listing prominent venture capital transactions in Southeast Asia for the week starting March 6, 2023.

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