Agritech firm Glife raises S$11M in Series A led by Temasek’s Heliconia

Singapore-based business-to-business (B2B) agribusiness 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 Malaysian firm RHL Ventures and South Korean firm KB Investment.

With its first round of S $ 3 million seed funding led by Global Founders Capital, this brings Glife’s total funding to S $ 14 million.

Along with this new injection of funds, Glife also announced the investment in omnichannel F&B technology solutions company Novitee.

Novitee helps both merchants and F&B suppliers with its solutions that include point of sale, QR ordering, payments, purchasing, inventory, central kitchen and supply chain management software .

This partnership will merge Novitee’s technological expertise within the F&B industry with Glife’s strong network of farmers and traders to make the company a data-driven powerhouse and enhance its offerings as a service provider. end to end for the ecosystem.

Launch planned in Malaysia and Indonesia in the first quarter of 2022

glife
Team Glife / Image credit: Glife

Founded in 2018, Glife primarily connects regional farmers with food and beverage companies (F&B).

From seed-to-table supply chain distribution to adopting digital solutions for restaurants, Glife aims to connect food value chain stakeholders on a single platform to strengthen the ecosystem. .

With this new funding, Glife said it will continue to grow and expand with plans to launch in Malaysia and Indonesia in the first quarter of 2022.

Glife will also strengthen its technological infrastructure by investing in artificial intelligence and big data analysis software for restaurant management.

In tandem, they will evolve the technology team to develop solutions for their growing pool of farmers and traders.

Glife currently serves over 1,000 farmers and over 900 traders across the region.

“At Glife, we recognize a long and fragmented supply chain between farmers and traders 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 enhance our technology-based supply chain distribution model and work closely with Novitee to create an effective and efficient solution for the ecosystem, which will allow us to cross a step towards sustainable food for the entire Southeast Asian region. “


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Featured Image Credit: Glife via Facebook

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