September 28, 2022
Regional Food and Agritech Firm

Caleb Wu, CEO | The regional food and agritech firm seeks to accelerate its commercial plans including the launch of a digital marketplace for the F&B sector and strengthening its operational capabilities within Indonesia

DDMiers | Regional Food and Agritech Firm, Glife Technologies closes Series A1 with US$3million investment from Tin Men Capital, bringing total capital raised to US$13 million | SINGAPORE, 14 September 2022 – Glife Technologies (“Glife”), a Singapore-headquartered  digital business-to-business (B2B) food and agritech company, has announced a US$3 million  (S$4.1M) Series A follow-on funding to further support their operations across the Southeast Asia  region. This is a follow up to the US$4.96 million that Glife raised during its Series A in November  2021 and the subsequent US$2.9 million funding injected by existing investors in May 2022. 

Fuelled by a burgeoning interest in the digitisation of the food supply chain across the region  within Southeast Asia, this follow-on funding saw participation from a new strategic investor Tin  Men Capital, a Singapore-based venture capital with a focus on B2B tech enterprises. Tin Men  Capital joins previous Series A investors Heliconia Capital, a wholly owned investment subsidiary  of Temasek Holdings and the Hibiscus Fund, a venture capital fund managed by Malaysia’s RHL  Ventures and South Korea’s KB Investment, as part of the Dana Penjana Nasional (DPN)  Programme by the Malaysian Government. 

To date, Glife has raised US$13 million (S$18M) in funding, which supported operations across  regional markets including Singapore, Malaysia, Indonesia and Vietnam. 

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.  The B2B digital marketplace will aggregate 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 funding will also be used to further invest and strengthen its technology infrastructure as part  of its goal of building an end-to-end digital supply chain solution that is fair, secure, more efficient,  and sustainable for the food ecosystem.  

Caleb Wu, Co-Founder and Deputy CEO of Glife Technologies, said “The additional funding  from our investors indicates confidence in Glife’s business model and mission to feed Southeast  Asia sustainably by empowering and uplifting farmers and businesses with technology. We aim  to continue building efficiency and transparency across the food supply chain and create solutions  that will uplift smallholder farmers across the region. This will further strengthen our solutions and  accelerate our vision to build a better food future. We greatly appreciate the support we have  received from our investors, both new and existing and will continue to strive to be the leading  Agritech player in SEA.”  

“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. Glife’s growth and track record is  aligned with Tin Men’s mission of bringing technology to an undigitised, yet crucial industry, and  positively impacting the community in the long term. We are proud to be backing the Glife team in their goal of digitising the food supply chain in SEA,” said Murli Ravi, Co-founder of Tin Men  Capital. 

Founded in 2018, Glife is a B2B food and agritech company that serves as a vertically integrated  food service solutions provider for the food ecosystem in Southeast Asia using technology. The  company has witnessed tremendous success over the past four years, having grown from a 20- man team in 2018 to an employee headcount of more than 250 in September 2022. Revenue has  also expanded by more than 30x since its founding. Currently, the company serves more than  2,500 customers in the HORECA industry and over 1,000 farmers across the region. 

Beyond capital investment, Tin Men Capital will be working hand in hand with Glife to build out  their organisation and uncover new opportunities in the region. The Tin Men team believes that  Glife’s solutions play an important role in helping operators in the food supply chain make the  critical leap towards technology adoption. Tin Men Capital also has great confidence in the  experienced and passionate team driving Glife with a clear vision and execution roadmap.  

With agriculture and food as key drivers for Southeast Asia’s economy and GDP, greater  internationalisation of the region’s food businesses is expected. Glife recognises the importance  and potential of the industry, providing solutions to enable a resilient and agile food value chain  to drive future growth for the industry. 

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About Glife Technologies 

Established in 2018, Glife Technologies is a technology start-up dedicated to uplifting farmers,  suppliers and merchants in the food and agriculture industry as it aspires to feed Southeast Asia  sustainably.  

As a vertically integrated food service solution provider, Glife expanded its services in 2021 by  providing the full stack of restaurant digital technologies for merchants in the HORECA industry.  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 eco-system. 

Headquartered in Singapore, Glife serves more than 1,000 farmers and over 2,500 customers  across the region. 

About Tin Men Capital 

Tin Men Capital is a Singapore-based venture capital firm licensed by the Monetary Authority of  Singapore. It is led by Singapore citizens Murli Ravi (formerly at Temasek Holdings and JAFCO)  and Jeremy Tan (formerly at Morgan Stanley and Puma Energy). Tin Men’s advisory board  consists of Mr Robert Binyon, Mr Haresh Khoobchandani, Mr Lee Ah Boon and Professor Bala  Vissa.  

Tin Men invests in industrial technologies and automation opportunities that are coming to the  fore in South-East Asia spanning segments such as smart cities, security, manufacturing,  agriculture, transportation and supply chain, retail enablement, travel and tourism, and enterprise  productivity. Portfolio companies include Hubble, Zipline, GlobalTix, Overdrive, IVS and Braiven  (formerly known as Brazn). 

For more information, visit www.tinmen.asia

For media inquiries via Redhill on behalf of Glife Technologies, please contact: 

Marta Bigio 

Redhill Communications marta.bigio@redhill.asia +65 8421 31 30 

Victoria Mak 

Redhill Communications victoria.mak@redhill.asia +65 9173 3801 

For media inquiries via Grow Public Relations on behalf of Tin Men Capital, please contact: 

Jessica Ong 

Grow Public Relations 

Jessica@growpublicrelations.com +60 17-226 7995 

Christel Goh 

Grow Public Relations 

Christel@growpublicrelations.com +65 9328 0107