Tridge, the digital trading and market intelligence hub for food and agriculture buyers and suppliers, has completed Series C investment worth US$60 million from Forest Partners to help it scale and meet demand from food businesses searching globally for alternative sources as traditional supply lines are hit by increasing disruption and risk.
This investment edges Tridge closer to being one of South Korea's next tech unicorns with a current market value of US$500m, up from US$140m since its last funding round in April 2020.
Demand for Tridge's service soared in 2020 when the logistics congestions and travel restrictions caused by the pandemic forced buyers and suppliers to seek digital solutions to supply and demand challenges. Over 300,000 visitors are now visiting the platform every month to source products through Tridge, a sign that confidence in digital trading is increasing.
Hoshik Shin, CEO, Tridge, said: "The food and agriculture sector is one of the most fragmented sectors and buyers and suppliers struggle to find the right information or partner. Our market intelligence works as a vessel to help them come together; we are the bridge to connect and help them start new trading relationships in the most efficient and reliable method as possible."
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