E-commerce Enabler Anchanto Raises USD 4 Million as Part of Series C Round

A Singapore based technical company has raised an amount of US$4 million in the first round of its ongoing Series C investment, which is led by some of the investors which includes MDI Ventures, Telkom Indonesia’s corporate venture capital arm.

On Tuesday, e-commerce firm Anchanto said that the proceeds of the fund will be used to expand its market outreach, expands business growth and to build a “stronger regional South-east Asia presence”.

MDI Ventures' funding comes after Series B funding that the company secured from the venture capitalist Transcosmos Inc Japan and Luxasia Group, Singapore in the year May 2017.

Anchanto's, is a SaaS Technology and integration company with ecosystem players makes online selling and e-commerce logistics simple for everyone. The Anchanto platform is e-commerce ecosystem, enabling and connecting all key players across the globe. Anchanto was established in June 2011 in Singapore with the vision “to give customers an enchanting experience” through our software platform and associated services. The company has secured 89 online businesses from Europe and increased their revenue by 30% from the new technology-led business model alone. That same year, it also developed a technology on top of our core “Fulfillment by Anchanto” platform, which helped our customers manage their online businesses on marketplaces (Channel Management, which later became SelluSeller.com).

ANCHANTO

According to the company officials, sellers across the region have processed more than 12 million orders with a gross volume of US$258 million through its platforms over the last 12 months of getting series B funding.

Anchanto's chief executive and founder Vaibhav Dabhade said: “Through this collaboration, we aim to enable thousands of Indonesian SMEs (small and medium enterprises), micro-SMEs, and enterprise businesses to join the e-commerce bandwagon… We are going to empower Indonesian entrepreneurs to scale their businesses in South-east Asia's biggest e-commerce market.”

Nicko Widjaja, CEO and investment director of MDI Ventures, said that the investment will complete the end-to-end e-commerce solutions that’s in the portfolio, and strengthen the nation’s e-commerce ecosystem.

“This investment complements our efforts in the e-commerce sector, tackling different market segments of Indonesia’s logistics landscape with different approaches. Logistic technologies have an enormous potential for improving the e-commerce landscape in Indonesia,” he said.

You may also like to read:

Shopping Delivery Firm Home Run Raises Over £470k