Fast-growing global agtech startup sees valuation leap 5X as it expands into more markets
Tridge, a global agricultural technology company, today announced a $37 million Series D financing round, capital that will enable it to continue to accumulate agricultural market intelligence and to expand into more international markets.
The round is led by DS Asset Management, one of South Korea’s most prominent investors, bringing the total equity funding raised by Tridge to nearly $120M and increasing the company's valuation from $500M to $2.7 billion.
"Today's fundraising reflects the strength of Tridge's business, the growth our teams have delivered and the incredible opportunity ahead," said Hoshik Shin, founder of Tridge. “As B2B business starts to accept new ways of sourcing agriculture products over the coming years, we'll continue to invest in our people, products and partners to support all of the communities we serve.”
“We are delighted to participate in this round because we believe in both Tridge’s vision and their business model,” said DS Asset Management. “Solving global food supply disruptions is an important mission for all of us.”
Tridge is improving global supply chain efficiency through digitization, utilizing its global subsidiaries and vast global network together with its robust database. Tridge currently has more than 400,000 subscribers to its platform, which allows parties on both sides of trades to deal directly with each other, eliminating the need for 3rd party intermediaries.
Tridge is the world’s most comprehensive global agricultural platform, which removes common barriers in the conventional agriculture trading scene. Tridge intends to do so by digitizing two major pillars: the market intelligence and fulfillment service. The Tridge platform brings agricultural market networks and real-time market information together to facilitate more efficient trade and increase food security.
Tridge is improving global supply chain efficiency through digitization, utilizing its global subsidiaries and vast global network, ultimately benefiting both farmers and buyers. The Tridge platform allows parties on both sides of trades to deal directly with each other, eliminating the need for 3rd party intermediaries and reducing time spent on phone calls, e-mails, and other time-consuming processes.