SG agritech startup Glife raises $1.2m from Global Founders Capital, 500 Startups

Glife is a Singapore-based B2B agritech firm.

Glife, a Singapore-based agritech startup has raised $1.2 million (S$1.6 million) in seed funding from Global Founders Capital and 500 Startups.

The round was also joined by angel investors including Zopim co-founder Royston Tay.

The B2B agritech firm connects farmers from Southeast Asia with local food and beverage (F&B) businesses. It likens itself to Meicai, a Chinese app that allows customers to order vegetables directly from the farms. The Chinese firm was recently reported to be worth $7 billion.

Joe Chen, CCO of Glife Technologies, said: “Currently, we try to tackle the problem of numerous middlemen, and instead bridge the gap between these two groups within the food supply chain. F&B businesses will get quality produce at competitive prices and farmers get reasonable value for their crops. With the elimination of multiple middlemen, fair pricing is implemented, and we are better able to communicate a stable demand of produce to these farmers and increase their margins.”

According to a statement, Glife has partnered with over 150 local F&B businesses to streamline agricultural supply chain processes. It also conducted a soft-launch of its farm-to-table operations in Singapore last May.

It added that the proceeds will be used to enhance the user experience for restaurants that it caters to. This includes developing a consolidated invoicing system for perishable goods, and on-demand logistics technology for last mile-delivery fulfilment.

“The food supply chain has been traditionally inefficient and long. Adopting a digital commerce platform for agricultural products will reduce friction and waste while delivering better margins to farmers, lower prices to restaurants and more sustainable farming practices,” said Global Founders Capital partner Tito Costa.

According to the Asian Development Bank, Asia is currently the world’s largest food market. Southeast Asia’s 600 million people are also consuming more fresh produce than ever before, a trend set to persist as populations expand, grow wealthy and consume more food.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.