Vosbor, an Amsterdam-based digital marketplace for global trade in bulk agricultural commodities, announced in July, that it has secured €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.
Founded by Maarten Elferink in 2019, Vosbor brings the physical agricultural commodities markets online to manage risk and commodity flows better.
The company aims to make agricultural commodity trading cheaper and markets more accessible.
By digitizing the agriculture trade, Vosbor is easing the threats to global food security, as existing offline markets are inadequate to build systemic resilience.
Vosbor is based in Amsterdam, with additional offices in Singapore.
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