Glife Technologies, a Singapore-based food and agritech firm, has acquired a controlling stake in PanenID, a Bali-based farm-to-table startup that connects hotels and restaurants directly to farmers, and Yolek, a HORECA distributor with more than 30 years of experience in plant-based distribution and retail.
Glife’s strategic investment in the two firms signifies the company’s determination to move on to the next stage of its growth strategy, which includes expanding into major neighbouring markets.
Caleb Wu, Co-Founder and Deputy CEO of Glife Technologies, commented, “Both Indonesia and Malaysia are vibrant communities within the food and agriculture space. We recognise the immense potential for us to tap on given the large agriculture market. The strategic partnership will allow us to bring the best of Glife’s technological solutions beyond Singapore’s borders and we are extremely excited to connect with more farmers and restaurants within the region. PanenID and Yolek are valuable partners in this journey as we tap onto their local domain knowledge to bridge the gaps within the food value chain and strengthen our regional network.”