Singapore-headquartered AI-enabled trade compliance solutions provider Dutycast has announced an undisclosed strategic investment from GTR Ventures (GTRV) and angels.
Dutycast offers AI Trade Agent, a global trade intelligence platform to help companies navigate international markets. Its technology simplifies complex compliance matters such as rules of origin and tariffs with AI precision, reportedly slashing costs by 60 per cent for SMEs and customs agencies. Its product suite features cutting-edge intelligence tailored for trade, including rules of origin facilitators, HS Code classification, tariff calculation, and chat-based product requirements.
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The startup caters to exporters, freight forwarders, customs brokers, trade lawyers and supply chain consultants.
Dutycast has partnered with top consulting firms such as McKinsey, PWC, and Singapore’s SATS.
Rupert Sayer, co-founder & CEO of GTRV, commented, “Trade compliance has always been a cornerstone of global economic resilience, particularly for a trade-dependent nation like Singapore. Businesses face so many complexities in navigating evolving regulations, tariffs and geopolitical shifts today.
Dutycast allows its customers to better adjust to a turbulent world of tariff wars and uncertainties in trade rules. We’re confident in DutyCast’s ability to leverage the power of AI to provide smart and affordable tools for trade risk and operations management,” he added.
According to the International Chamber of Commerce (ICC), penalties and delays can cost businesses 5-10 per cent of their annual revenue due to non-compliance with trade regulations, highlighting the critical need for robust solutions like Dutycast.
Moreover, 80 per cent of small and medium-sized enterprises (SMEs) face compliance challenges due to limited resources, presenting a significant market opportunity for accessible, technology-driven tools. The ICC also advocates for digital transformation, estimating that digitalisation could reduce compliance costs by 20-30 per cent and enhance supply chain efficiency.
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GTR Ventures (GTRV) specialises in trade supply chains. In partnership with Global Trade Review (GTR), a global trade and trade finance intelligence firm, GTRV has a presence in London and Singapore. GTR boasts a proprietary network of over 60,000 decision-makers in trade finance, treasury, and insurance and organises annual events across five continents.
VinaCapital Ventures, launched in 2018, is a technology investment platform focused on investing in promising Vietnamese and Southeast Asian startups, aiming to develop strong technology companies and assist them in building a regional presence.
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