Anchanto, a Singapore- and Pune-based e-commerce fulfilment platform that helps brick-and-mortar brands go online, has raised an undisclosed amount from Luxasia Group, a Singapore-headquartered omni-channel retailer of beauty products, a company statement said.
Existing investor TCI (Transcosmos Japan) also participated in the round.
The company will use the funds to scale up its operations in the Asia Pacific region including India, Malaysia, Thailand, and Vietnam and to capture more brick and mortar customers and bring them online, the statement added.
“This investment is crucial in our ambition to reinforce our leadership in markets we are presently in and also venture in other countries by growing our team and further develop our products’ capabilities,” said Vaibhav Dabhade, founder and chief executive of Anchanto.
In November 2015, Anchanto secured a Series B round from TCI, which is a Tokyo-based business conglomerate that offers, among other services, comprehensive e-commerce based solutions to its clients. In August 2015, the company raised an undisclosed amount in its Series A round of funding led by Singapore-based early-stage investor Innosight Ventures.
Anchanto Pte Ltd. was founded in 2011 by Dabhade and Abhimanyu Kashikar. The company offers software-as-a-service (SaaS)-based solutions for e-commerce warehouse management, multiple marketplace store management platforms, a cross-border shipping network and a global fulfilment network. The company has two revenue models: a pay-as-you-go DIY (do it yourself) model and an enterprise one for its SaaS products. Going forward, the company has plans to launch new features on its software platform, like machine learning applications to help sellers with inventory sorting and management.
The tech team, which develops and implements the product, functions from Pune. The firm is looking to build its account management, sales and marketing teams as it only launched its India operations two months ago. Besides India, it also opened an office in Australia.
In India, the company already has brands like Jaipan and third-party logistics companies like DTDC as its customers. Anchanto is also in final level talks with one of the biggest digital payment companies, whose name it did not reveal.
Anchanto operates in more than 11 countries across the world with over 150 companies and 500 clients as customers, including 3M, PayTM, DKSH, Luxasia, Essilor, La Roche-Posay and ASOS. It has helped its customers go online and integrate with marketplaces such as Lazada, Zalora and Flipkart, Amazon and eBay, to name a few.
Bangalore-based Ace Turtle Services Pvt. Ltd on Monday raised $5 million (Rs 32 crore) in its Series A round of funding from Vertex Venture Holdings Ltd, the venture capital arm of Singapore state investment firm Temasek, and Singapore-based real estate developer CapitaLand.
In March this year, Brand Capital, the ad-for-equity investment arm of media conglomerate Bennett, Coleman and Company Ltd (BCCL), invested Rs 6.7 crore ($1 million) in m-commerce enabler OhoShop mCommerce Pvt. Ltd.
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