HeveaConnect expanding beyond natural rubber trading with name change

Singapore – Natural rubber (NR) trading platform HeveaConnect Pte Ltd has changed its name to Agridence Pte Ltd as part of a move to expand its trading activities beyond NR.

Founded in 2018, Agridence has built a digital trading platform for physical NR trading with more than 600 kilotonnes traded since 2019 and customers including major tire makers.

Fuelled by a recent round of Series A funding, Agridence announced 25 Oct that it planned to enter different agri-commodity verticals beyond NR.

As part of the strategy, the holding company has created Agridence Rubber as a subsidiary to cover the NR market.

All existing rubber-related products will be transferred from Agridence to the rubber subsidiary.

"We think this is the perfect time for a name change and rebranding to represent a new beginning for our company,” said Gerald Tan, CEO of Agridence.

“Looking ahead, we want to focus on delivering a physical natural rubber price index and have plans to expand our team to cover other agri-commodities,” he added.