AI-Powered Supply Chain Startup Silo Raises $32M to Transform Food and Agricultural Industries

August 1, 2023

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Ashton Braun, inspired by the inefficiencies he observed as a commodities trader in Singapore, founded Silo in 2018 to address communication challenges and payment risks in the food and agricultural supply chain. Silo's platform streamlines operations, offering services such as inventory management, ledger accounting, and financing. Powered by AI, Silo automates processes, making it easier for businesses to navigate complex supply chains.

The company's AI-driven approach has yielded remarkable results, with revenue growing over 100% since December 2022 and $272 million raised in funding. Silo's success lies in its ability to underwrite and collect payments more effectively than traditional banks, enabling the company to develop new services in supply chain finance, logistics coordination and workflow automation.

With its recent $32 million Series C funding round and strategic partnerships, Silo is well-positioned to lead the transformation of the food and agricultural supply chain. Looking ahead, Silo plans to invest in product research and development, with a focus on logistics and workflow automation. Silo also aims to support small- and medium-sized businesses in the perishable goods supply chain through financing programs.

Silo's AI-driven platform and financial solutions are revolutionizing the industry, empowering businesses to overcome challenges and thrive in an evolving market. With its commitment to innovation, Silo is poised to bring positive change to an industry that is ripe for disruption.

Mikaela Wang