10th October 2019

Sinisana Technologies, a Sarawak-based tech startup that provides a food supply chain solution built on blockchain technology, announced today they have secured a US$500,000 (RM2.125 million) seed funding from international investors that values the company at US$2 million (RM8.5 million). The valuation would make the company one of the most valuable tech startups in Sarawak and will allow the company to accelerate the rollout of their product in the United States, China and Southeast Asia.

The blockchain product, called Intersect by Sinisana, allows participants in the food supply chain to have a trusted source of data for food safety, traceability and oversight. Users of the platform will be able to gain access to trusted information from farm to retail. Sinisana is working with leading manufacturers to implement this exciting product which will help provide greater security to the world’s food supply chain.

“Consumers, particularly from the millennial and Gen-Z generations are increasingly concerned about the source of the products they purchase, and Intersect by Sinisana is well-poised to capitalize on this opportunity to enable the food industry to support this consumer demand,” said co-founder and Chief Executive Officer, Gary D’Agostino.

Meanwhile, co-founder and Chief Technology Officer, Jonah Lau, said Intersect by Sinisana is fully-developed in Sarawak and is proof that Sarawak has the talents and capabilities to create cutting-edge software platforms that can serve the needs of the global market. “Blockchain will be a US$10 trillion industry by 2030 and we are positioning Sinisana and Sarawak to be a leader in this field.”

A copy of this press release can be downloaded here.