On the 2022 Index, Singapore’s economy has the highest level of economic freedom. As a result, Singapore is ranked first among the 39 countries in the Asia-Pacific region, and its overall score is more significant than both the average gain for the region and the average worldwide.
With the exception of 2020, when it shrank, Singapore’s GDP grew steadily throughout the previous five years. Over that time, the level of economic freedom has remained very high, at the very top of the Index or close to it. Singapore’s extraordinary corporate atmosphere of openness and absence of corruption, its sensible monetary and fiscal policies, as well as its open law system are all significant factors in the success of the nation’s fast-expanding free-market economy as per treedots 11m series amasiashutechcrunch.
With the growing economy, food production also increases; people consume a part of that, and a significant amount ends up with a waste of food products. TreeDots, a Singapore-based company that bills itself as Asia’s first marketplace for food surplus, wants to assist. Tons of food gets wasted yearly due to supply chain inefficiencies or aesthetic problems (as the imperfect items would not look good when we see them while walking the aisle in stores). In Southeast Asia, TreeDots is the first wholesaler of excess and defective food supplies.
The goal is to use technology to match demand and supply more effectively, expedite transactions, and address the enormous problem of food waste (edible food that is wasted). TreeDots is the food meister of the sector, helping our providers recover the costs from edible, flawed, and unsold stock and assisting homes and food services in finding inexpensive food sources while carrying out our aim to safeguard our precious planet.
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The business is concentrated on developing a B2B marketplace and vertically integrated supply chain. For consumer group purchases, TreeDots is developing a social commerce component. In order to speed up the delivery of food to consumers, it is also building its very own cold-chain logistics network. As of today, Active Fund, Seeds Capital, author Nir Eyal, actress Fiona Xie, and East Ventures were among the investors in TreeDots’ $11 million Series A round, which was led by Amasia.
The utilization of this money will be to expand TreeDots’ activities in Malaysia and bring its amount of funding to a total of $15 million.
The company’s expansion into new markets and continued optimization of its TreeLogs supply chain and logistics business began in Malaysia last year. As a result, according to the firm, its gross merchandise volume (GMV) has increased by more than four times since last year.
Before extending its operations also to include social commerce, TreeDots was established in 2017 as a marketplace for excess food for F&B establishments.
A third of the food that is produced worldwide is never consumed. The TreeDots team claims that this is typically the result of ineffective supply networks or gastronomically “imperfect” cuisine in Asia. A supermarket chain might not accept a chicken because it is too large or has a fractured bone, for instance. However, since food is cooked and served before it reaches the client, Food & beverage establishments like restaurants typically don’t bother about how their components appear. The surplus food market at TreeDots was first developed to provide food to F&B establishments at prices up to 90% less than those charged by other suppliers.
Who Is The Chief Executive Officer Of Treedots
Tylor Jong, the co-chief executive officer of TreeDots, clarified in an email that the organization does not resell food from merchants. Instead, the company addresses the issue of wasted food further upstream, when you receive food that is substandard due to different aesthetic standards established by various buyer groups. Although corporations set these criteria, customers ultimately determine them.
Food is kept in excess because most economies strive to guarantee that all variations are available and store more stock than is necessary at each and every phase of the reserve.
For vendors, selling their non-aesthetic food to TreeDots has advantages such as generating extra income. Additionally, they can avoid spending the money necessary to dispose of extra goods in landfills. Through the TreeDots app and integration with TreeLogs, TreeDots also assists them in digitizing their business processes.
According to Jong, TreeDots’ logistics system was developed utilizing a mix of internal and external services to meet demand from both social commerce and commercial buyers. He added that the organization outperforms conventional cold-chain logistics by being tech-driven and aiming for higher utilization, increased delivery volume, and best – practices.
Roderick Purwana focuses on economic expansion investment opportunities throughout Indonesia and Southeast Asia. Roderick’s operational and investing experience in the private equity and venture capital sectors is diversified. Roderick Purwana is an active investor.
Food wastage already is a trillion-dollar concern, according to a statement from East Ventures portfolio manager Roderick Purwana on the capital invested in TreeDots.
The company became involved when suppliers began to utilize the platform for all of its income streams, not only goods meant to prevent food loss. If any of their vehicles could supply to a region, TreeDots could collaborate with different suppliers to accomplish five shipments within the same trip. Because of the improved network coverage, logistical expenses and pollution can be reduced.
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