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The GrowHub, which offers a blockchain platform for food traceability, files and sets terms for a $12 million US IPO

October 31, 2024
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The GrowHub, a Singapore-based provider of a blockchain system for food supply chain traceability, filed on Thursday with the SEC to raise up to $12 million in an initial public offering.

The company plans to raise $12 million by offering 2.7 million shares at a price range of $4 to $5. At the midpoint of the proposed range, The GrowHub would command a market value of $109 million.

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 was founded in 2020 and plans to list on the Nasdaq under the symbol TGHL. The company filed confidentially on June 17, 2024. Network 1 Financial Securities is the sole bookrunner on the deal.