Tridge, an online marketplace dedicated to assisting farmers in selling their produce globally, secured over $10 million in funding at the end of 2019 to enhance its offerings.
Background
Founded in 2015 by Hoshik Shin, a former Deutsche Bank executive, Tridge aims to facilitate ethical and sustainable trade practices between farmers in developing nations and customers worldwide. With backing from SoftBank, the Seoul-based company seeks to empower farmers who utilize green methods to directly connect with a global customer base.
Mission and Goals
Tridge’s mission is to achieve $10 billion in sales by the end of the current year. Shin emphasizes the platform’s role in enabling farmers to transcend geographical barriers and access foreign markets easily. By leveraging Tridge, suppliers from emerging economies can overcome limitations imposed by local markets and reach international buyers, leading to improved pricing and mutual benefits for farmers and their workers.
Technology Integration
Employing artificial intelligence, Tridge enhances search functionalities, ensuring efficient supplier verification processes. With a workforce spanning 40 countries, comprising approximately 80 employees, the platform meticulously verifies suppliers to maintain ethical standards. Noteworthy clients such as Walmart and Carrefour attest to Tridge’s credibility and impact in the retail sector.
Current Status
As of now, Tridge boasts a network of over 60,000 suppliers, 40,000 buyers, and offers a diverse range of 1,000 food products on its platform. The company’s exponential growth trajectory underscores its pivotal role in revolutionizing the agricultural supply chain and promoting sustainability.
Conclusion
Tridge’s pitch deck encapsulates its commitment to fostering transparent and responsible trade practices within the agricultural industry. With a focus on ethical sourcing and global connectivity, the platform stands poised to redefine the future of online farmers’ markets.
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