Roehl Niño Bautista · · 1 min readSG agritech firm enters Indonesia, Malaysia
Singapore-based Glife Technologies, a food and agritech firm, has acquired controlling stakes in startups PanenID and Yolek. Financial details on the deals were not disclosed.
PanenID is a farm-to-table startup in Indonesia, while Yolek is a plant-based food distributor in Malaysia.
Gilfe co-founder and deputy CEO Caleb Wu / Photo credit: Gilfe
Established in 2018, Glife addresses the supply chain pain points of food businesses by linking these companies to farmers and providing them digital tools.
PanenID and Yolek will use Glife’s proprietary food and beverage solutions to boost their operation efficiency by up to 50%.
“Both Indonesia and Malaysia are vibrant communities within the food and agriculture space. We recognize the immense potential for us to tap on given the large agriculture market,” said Caleb Wu, co-Founder and deputy CEO of Glife.
This deal is Glife’s first step outside Singapore as it eyes expansion within the region. Last year, it raised US$8 million in a series A round led by Temasek’s Heliconia.
See also: The key players in Indonesia’s promising agritech space
Editing by Miguel Cordon and Jaclyn Tiu
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