Glife, An Agritech Startup Aims to Strengthen Its AI Technology To Connect Farmers And Businesses
A Singapore-based B2B startup, Glife wants to improve the connection between farmers and businesses by investing in Artificial Intelligence (AI) and data analytics.
An agritech startup Glife based in Singapore that connects farmers with beverage and food businesses aims to strengthen its services. It is a seed-to-table startup, distributing fresh fruits, vegetables, and other plant-based products.
The startup right now is serving 700 customers in the Singapore market and plans to launch its services in Malaysia and Indonesia in the first quarter of 2022. The company right now has 51-200 employees. The startup has also successfully caught the eye of investors. As in the latest funding round led by Heliconia Capital, the startup has raised $11M. Other investors participating in the venture were Hibiscus Fund and KB investment from South Korea.
Currently, Glife is serving more than 1,000 farmers and over 900 merchants across the region. With its previous funding round of $3 million led by Global Founders Capital, the total capital of the startup is now $14 million. The agritech company has also announced a partnership with Novitee and F&B-focused tech solutions firm. The Novitee’s expertise will aid the company in increasing its offering as an end-to-end service for the ecosystem.
Justin Chou, co-founder, and CEO of Glife talking to Vulcanpost.com
“At Glife, we recognize a long and fragmented supply chain between farmers and merchants and a lack of visibility and alignment between supply and demand.”
Wayne Goh the Co-founder of Glife elaborating about the struggles with initiating Glife said: “At the start, it was difficult because we had to have a more active approach but our efforts paid off and today, we’re still making strong impressions in the market.”
AI-based technology in agriculture is becoming common with time as also evident from the stats that AI use in agriculture is expected to reach USD 2,400 million by 2026. Many businesses nowadays are using AI technologies. Because AI technologies with their ability to predict user’s behavior are helping businesses in planning and implementation of strategies.
Story Courtesy: Tech in Asia