Anchanto raises $5.5m in ongoing Series C round

Singapore-based logistics and selling platform Anchanto has raised US$4 million ($5.5 million) in the first round of its ongoing Series C investment, led by Telkom Indonesia's corporate venture capital arm, MDI Ventures.

This follows a Series B round where Anchanto received funding from Transcosmos Japan and Luxasia Group in May last year.

Anchanto said in a statement yesterday that the proceeds will be used to expand its market outreach and to build a stronger presence in South-east Asia. Its platforms connect e-commerce sellers, brands, retailers, and warehousing and fulfilment service providers to over 70 e-commerce sales channels.

Over the last 12 months, sellers in the region have processed over 12 million orders totalling over US$258 million in gross merchandise volume through both Anchanto's SelluSeller.com and eCommerce SaaS Warehouse Management System solutions, it said.

"Collaboration with Telkom Indonesia and MDI's investment is the foundation of Anchanto's Indonesia strategy," Anchanto founder Vaibhav Dabhade said.

Telkom Indonesia has a user base of over 170 million, along with digital platforms, mobile payment and business solutions.

"This investment complements our efforts in the e-commerce sector, tackling different market segments of Indonesia's logistics landscape with different approaches," MDI Ventures chief executive officer Nicko Widjaja said.

A version of this article appeared in the print edition of The Straits Times on July 05, 2018, with the headline 'Anchanto raises $5.5m in ongoing Series C round'. Print Edition | Subscribe