SINGAPORE, November 16, 2021 – Glife Technologies (“Glife”), a Singapore-based digital business-to-business (B2B) food and agritech company, connecting farmers from the region with food and beverage (F&B) businesses, has announced that it has closed its Series A funding at $11 million SGD.
The Series A was led by Heliconia Capital, a wholly owned investment subsidiary of Temasek Holdings. The funding round was joined by the Hibiscus Fund, a venture capital fund managed by Malaysia’s RHL Ventures and South Korea’s KB Investment, as part of the Dana Penjana Nasional (DPN) Programme by the Malaysian Government. Previously, Glife raised a seed funding round of $3 million SGD led by Global Founders Capital. This brings Glife’s total funding up to $14 million SGD.
Glife is an ambitious Southeast Asian technology start-up that uplifts the regional food and agriculture industry with vertically integrated solutions designed for efficiency and scale. Spanning the seed-to-table supply chain of fresh produce and plant protein to full stack restaurant digital technologies, the one-stop digital platform will allow F&B merchants to have higher visibility of the entire logistics flow of their produce via easily adoptable holistic digital innovations. Glife aims to drive towards the sustainable growth of the food industry in the region as a single end-to-end solutions provider that connects stakeholders across the food value chain.
Investing into Novitee
The Series A fundraise will empower Glife to expand its services; they are also proudly announcing today the investment into a significant partnership with Novitee, an omni-channel F&B tech solutions firm. The partnership will amalgamate Novitee’s technological expertise within the F&B industry with Glife’s strong network of farmers and merchants to evolve the company into a symbiotic data driven powerhouse and enhance its offerings as an end-to-end service provider for the ecosystem.
Growth and expansion
Glife will further pursue growth and expansion with plans to launch in Malaysia and Indonesia in Q1 2022. Furthermore, Glife will be strengthening its technology infrastructure via investment into AI and big data analytics software for restaurant management. In tandem they will be scaling the technology team to develop solutions for their growing pool of farmers and merchants. Glife currently serves more than 1000 farmers and over 900 merchants across the region since its founding in 2018.
Commenting on a successful fundraise, Co-Founder and CEO, Justin Chou said “We are extremely grateful for the support of our investors for this round of funding. At Glife, we recognise a long and fragmented supply chain between farmers and merchants and a lack of visibility and alignment between supply and demand. The Series A funds will allow us to improve our tech enabled supply chain distribution model and work closely with Novitee to create an efficient and effective solution for the ecosystem – enabling us to move one step closer to feeding the entire Southeast Asia region sustainably.”
“The digitalisation trend, as well as agrifood supply chain and labour challenges, will continue to put innovative companies like Glife in a unique position to serve its customers. We hope to support Glife in its efforts to expand across the region.”, said Derek Lau, CEO of Heliconia Capital.
The Series A fundraise and investment in Novitee mark exciting milestones for Glife as they seamlessly connect farmers to F&B businesses across the region.