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Singapore’s JustCommodity raises S$5.6 million in Series A round
12 April 11
Singapore-based commodity trading software company JustCommodity announced today funding of S$5.6 million from Extream Ventures, OWW Capital Partners and Infocomm Investments to expand its product offerings.
JustCommodity is a leading software solutions provider catering to the commodity trading industry, particularly for the trading of edible oils. The company has a strong customer base in Asia including some big firms such as, Cargill Sime Darby, Asian Agri, Cargill Tropical Palm Holdings, SGX-listed Golden Agri Resources and KL-Kepong Group.
With this new round of funding, JustCommodity plans to expand into overseas markets in Europe and Middle East and foray into energy and metal sectors. Infocomm Investments’ CEO, Dr. Kuo-Yi Lim said, “Infocomm Investments is pleased to be a strategic investor in JustCommodity; and we are excited to be working with the Company and our partners to extend JustCommodity’s market reach.”
This Series-A round was led by Extream Ventures. Leslie Loh, Partner at Extream Ventures who will now take up the position of Chairman in JustCommodity said, “JustCommodity’s track record since commercialization has been nothing but stellar. With an already established presence in the industry and a strong management team, we believe the Company has the drive and potential for further growth. Against the backdrop of the strong growth prospects in commodity trading, the outlook for JustCommodity is very promising.”
Just Commodity plans to grow into the largest commodity trading software solutions provider in Asia by 2014.
JustCommodity’s Executive Vice President, Mr. Joel Lau said, “We are heartened by the confidence of our investors. The funding they have given us will provide the boost for us to forge ahead with our growth plans. The increasing awareness and rapid growth in commoditytrading globally presents for us a perfect opportunity to ride on this wave and we believe JustCommodity is poised to do so, given our strong reputation as a key software solutions partner for this sector.”
JustCommodity has won many prestigious awards including 2nd position in Singapore in Deloitte Technology Fast 500 Asia Pacific Rankings, Red Herring 100 Global and Singapore SME 1000 awards in 2010. “