The Glife team
Singapore-headquartered Glife Technologies, a B2B marketplace to connect restaurants with farmers, has extended its Series round with a US$3 million investment from Tin Men Capital.
This is a follow-up to the US$4.96 million Glife Techologies raised during its Series A in November 2021 and the subsequent US$2.9 million funding injected by existing investors in May 2022.
Tin Men Capital joins previous Series A investors Heliconia Capital (a wholly owned investment subsidiary of Temasek) and Hibiscus Fund (a fund managed by Malaysia’s RHL Ventures and South Korea’s KB Investment).
Since its inception, Glife has raised US$13 million in funding to support its operations across regional markets, including Singapore, Malaysia, Indonesia and Vietnam.
Also Read: Agritech startup Glife secures US$1.18M seed funding for farm-to-table logistics service
Glife will use the fresh funds to accelerate the launch and operations of its digital marketplace for F&B suppliers and merchants in Q42022 and enlarge its market share in the Indonesian market.
Founded in 2018, Glife connects farmers in the region with F&B businesses through its full-stack solutions for restaurants. The B2B marketplace aggregates demand for food produce from restaurants and match it with suppliers, giving restaurants better access to a variety of products as well as better prices.
The capital will also be used to strengthen its technology infrastructure to build an end-to-end digital supply chain solution.
Caleb Wu, Co-Founder and Deputy CEO of Glife Technologies, said: “We aim to continue building efficiency and transparency across the food supply chain and create solutions to uplift smallholder farmers across the region.”
“The ongoing pandemic has exposed the brittleness of our supply chain. Disruptions have impacted the flow of produce from farms to customers and venture capital must support industry efforts to embrace innovation and integrate sustainability goals.”
Singapore-based venture capital firm Tin Men Capital recently announced the first close of its second enterprise technology fund. Fund II will continue to invest in B2B technology startups in Southeast Asia. It looks to invest in approximately 10 to 12 enterprises.
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