Singapore’s Anchanto raises US$4 million from MDI Ventures in ongoing Series C round

Wed Jul 4, 2018 - 5:12am GMT+0000
Singapore’s Anchanto raises US$4 million from MDI Ventures in ongoing Series C round

Telkom Indonesia, MDI Ventures

4/7/2018 – Anchanto, an ecommerce enabler headquartered in Singapore has raised US$4 million as part of its ongoing Series C funding led by MDI Ventures, the venture capital arm of Indonesia’s largest telecommunications and network provider Telkom Indonesia.

So far, Telkom Indonesia is the third Anchanto’s customer to invest in the company, alongside with Transcosmos Inc Japan and Luxasia Group which invested in the company’s Series B round in May 2017.

Anchanto provides a SaaS platform connecting ecommerce sellers, brands, retailers, and warehousing & fulfillment service providers to more than 70 ecommerce sales channel.

Its signature platform is a SaaS product for sellers and brands as a software solution to manage their inventory, orders, and catalogs across more than 50 different marketplaces in Asia.

For businesses, Anchanto also offers the B2B and B2C ecommerce SaaS Warehouse Management System (eWIMS) with an integrated inventory management system and order management system.

Both platforms have been used to process over 12 million orders worth more than US$258 million in gross merchandise value (GMV) over the last 12 months.

With the proceeds from the latest funding, Anchanto will use it to expand its market outreach and build a stronger presence in Southeast Asia.

“Through this collaboration, we aim to enable thousands of Indonesia SMEs, Micro-SMEs, and Enterprise businesses to join the ecommerce bandwagon and seamlessly onboard them on Telkom Indonesia’s DELON, for ecommerce fulfillment, warehousing and other digital services,” said Anchanto founder and CEO Vaibhav Dabhade.

Telkom Indonesia is the ideal partner to help the Singapore startup scale up. This is given the telco firm’s strong user base with more than 170 million people as well as its digital platform, mobile payment, and business solutions.

“Essentially, we are going to empower Indonesian entrepreneurs to scale their businesses in Southeast Asia’s biggest ecommerce market,” Dabhade added.

Nicko Widjaja, CEO and Investment Director of MDI Ventures said that the investment will complete the end-to-end ecommerce solutions currently in the VC firm’s portfolio.

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

“As products become more diverse, ecommerce will need to optimize the supply chain to be delivered as quickly as possible to the customers. Achanto’s eWMS provides one of the best-dedicated systems to synchronize across warehouse management, transportation, and analytics system.”

Anchanto’s present customer portfolio include Nestle, Luxasia, Transcosmos, DKSH, Telkom Indonesia, Pos Malaysia, Essilor, La Roche Posay. ASOS, VIP Plaza, and Bosnet.