Agritech company Glife Technologies, based in Singapore, has committed US $3 million for its series A1 round of fundraising, increasing its total capital garnered to US $13 million.
A new strategic investor, Singapore-based Tin Men Capital, was also welcomed into the round.
Glife was established in 2018 with the goal of bringing together farmers, retailers, and other food value chain players through a single platform. In Southeast Asia, the company presently provides services to more than 2,500 clients, including more than 1,000 farmers.
According to Glife, it will use the additional money for the B2B digital marketplace’s debut, which seeks to provide restaurants with greater choice and better access to items at more affordable pricing. The fourth quarter of the year is when it is expected to become live.
Additionally, the startup wants to develop its technological foundation and increase its market presence in Indonesia.
“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,” said Caleb Wu, Glife co-founder and deputy CEO.