SG’s Glife Technologies raises $8m in Series A round led by Heliconia Capital

Glife's team. Source: Glife.

Singapore-based Glife Technologies, which helps food and beverage businesses buy fresh produce directly from farmers, has raised $8.12 million (S$11 million) in a Series A round led by Temasek’s Heliconia Capital.

Hibiscus Fund, a venture capital fund managed by Malaysia’s RHL Ventures and South Korea’s KB Investment, joined the round.

Founded in 2018 by Justin Chou, who is also the executive director of plant-based food supplier Growthwell and co-founder of vegetarian food chain Greendot, Glife runs an app and website that allows food and beverage businesses to buy, manage, and track their orders.

Glife will use the fresh funds to expand its business into Malaysia and Indonesia at the start of next year, acquire more merchants and farmers. The startup claims to work with over 1,000 farmers and 900 merchants currently.

Glife last raised a seed round in 2019 led by Global Founders Capital and pre-seed in 2018 from Quest Ventures.

The latest round brings the startup’s total funding to $10.34 million (S$14 million).

“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,” said Chou.

“The digitalisation trend, as well as agrifood supply chain and labour challenges, will continue to put innovative companies like Glife in a unique position to serve its customers. We hope to support Glife in its efforts to expand across the region,” said Derek Lau, the chief executive of Heliconia Capital.

Glife’s investment comes a week after Treedots, a startup that helps food distributors and wholesalers sell their excess inventory to food and beverage businesses, raised $11 million in a Series A round co-led by venture capital firms Amasia and East Ventures’ growth fund.

In September, Growthwell raised $22 million in a Series A round led by French private equity firm Creadev with participation from others including existing investor Temasek.

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.