Vosbor, an Amsterdam-based digital marketplace for global trade in bulk agricultural commodities, announced in July, that it has secured $7M (approximately €6.8M) in a Seed round of funding led by Lux Capital. Market One Capital, FJ Labs, 7percent Ventures, Athos Capital, and Nucleus Capital also participated in the round.
The company also revealed that Chris Mahoney, former CEO of Glencore Agriculture, and Soren Schroder, former CEO of Bunge, have invested and joined the company’s team.
Besides funding, the Dutch company unveiled its flagship trading platform, enabling buyers and sellers to connect and trade corn, wheat, soybean, palm oil, and 14 other agricultural commodities in a transparent and secure environment. Vosbor says 35 companies in the agricultural commodity trade are currently piloting the platform.
What does Vosbar solve?
Food production and consumption aren’t always local. In fact, most countries rely on importing food from other places. This is because different areas of the world specialise in various crops.