The Glife team
Singapore-based B2B food and agritech startup Glife Technologies today announced an S$11 million (US$8.1 million) Series A funding round led by Heliconia Capital, a wholly-owned subsidiary of Temasek Holdings.
The funding round also included the participation of 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.
Prior to this funding round, Glife has raised a S$3 million (US$2.2 million) seed funding round led by Global Founders Capital, bringing the company’s total funding to up to S$14 million (US$10.3 million).
In addition to the funding round, Glife also announced that it has invested an undisclosed amount to omnichannel F&B tech solutions firm Novitee.
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In a press statement, Glife said that the partnership will “amalgamate Novitee’s tech 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.”
The company planned to expand to Malaysia and Indonesia in Q1 2022. It also planned to invest in building AI and big data analytics software for restaurant management and scaling its tech team.
Founded in 2018, Glife connects farmers from the region with F&B businesses through its full-stack solutions for restaurants. It claimed to serve more than 1,000 farmers and over 900 merchants.
With the solutions, the company aims to drive towards the sustainable growth of the food industry in the region.
“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,” said Glife Co-Founder and CEO Justin Chou.
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Image Credit: Glife
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