Singapore-based pan Asian e-commerce logistic startup Anchanto is eyeing on a $35 million in its ongoing C series investment. The company is planning to expand its service in new markets globally.
Anchanto’s first round of C series started in 2018 with a $4 million, led by MDI Ventures, Telkom Indonasia’s corporate venture capital affiliate. The fund used to strengthen its presence in its major market, Southeast Asia. In October 2019, it raised the second round of the C series, and currently, it is closing the round.
“With this investment, we aim to add new features and capabilities to our platform, provide additional services to our existing customers, and expand our presence across newer countries,” said Anchanto founder and CEO Vaibhav Dabhade.
Currently, Anchanto has expanded its business in 14 markets and headquartered in Singapore, Malaysia, Indonesia, India, and the Philippines. At the end of 2019, it rolled out the service in Australia and South Korea.
In the coming years, it is looking to expand to the Middle East, Europe, North Africa, and North America. As an initiative of materializing the dreams, the startup is expecting to close the third round of C series in the months to come.
Anchanto was launched in 2011 to disrupt the e-commerce sector across the Asia Pacific, now a $1.2 trillion market. It helps brands, retailers, e-commerce enablers, logistics providers, and small and medium-sized enterprises to execute their end-to-end e-commerce operations. Currently, over 7000 businesses across APAC are using this SaaS solution. It also offers a full-suit warehouse management system named Wareo.
Anchanto offers various solutions, and SelluSeller is its masterpiece. It’s a platform to turbocharge multi-channel e-commerce business. For a business, this software can be used to manage selling operations at various ecommerce platforms such as Shopee, Amazon, Lazada, Tokopedia, and so on.
The company would continue its plans started in 2019, and the new funding would be used for it, an Anthanto representative said in an interview.