Singapore-headquartered business-to-business (B2B) food and agritech company Glife Technologies (Glife) announced today (November 16) that it has closed its Series A round at S$11 million.
The round was led by Heliconia Capital, a wholly-owned subsidiary of Temasek Holdings. Other participating investors include Hibiscus Fund, a venture capital fund managed by Malaysia’s RHL Ventures and South Korea’s KB Investment.
Together with its earlier seed funding round of S$3 million led by Global Founders Capital, this brings Glife’s total funding of up to S$14 million.
Along with this new injection of funds, Glife also announced the investment into omni-channel F&B tech solutions firm Novitee.
Novitee assists both F&B merchants and suppliers with its solutions that include POS, QR ordering, payments, purchasing, inventory, central kitchen and supply chain management software.
This 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 data-driven powerhouse and enhance its offerings as an end-to-end service provider for the ecosytem.
Looks to launch in Malaysia and Indonesia in Q1 2022
Founded in 2018, Glife essentially connects regional farmers with food and beverage (F&B) businesses.
From seed-to-table supply chain distribution to driving the adoption of digital solutions for restaurants, Glife aims to connect stakeholders across the food value chain on a single platform to strengthen the ecosystem.
With this new funding, Glife said it will further its growth and expansion with plans to launch in Malaysia and Indonesia in Q1 2022.
Glife will also 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 1,000 farmers and over 900 merchants across the region.
“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,” said Justin Chou, co-founder and CEO of Glife.
“The Series A fund 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 closing to feeding the entire Southeast Asia region sustainably.”
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Featured Image Credit: Glife via Facebook
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