The GrowHub, a Singapore-based provider of a blockchain system for food supply chain traceability, raised $15 million by offering 3.8 million shares at $4, the low end of the range of $4 to $5.
The cornerstone of GrowHub's operations is its proprietary GrowHub Platform, a traceability blockchain technology solution. Hosted on the Polygon network, a third-party blockchain platform, the GrowHub Platform represents a paradigm shift in the way food products are traced from origin to consumer. The platform offers three key solutions: the traceability solution, the anti-counterfeit solution, and the carbon management solution. To date, the company has successfully developed business ties in several key markets, including Australia, Bhutan, Japan, Singapore, Indonesia, Vietnam, and Malaysia.
The GrowHub plans to list on the Nasdaq under the symbol TGHL. Alexander Capital and Network 1 Financial Securities acted as joint bookrunners on the deal.
