E-commerce tech firm Anchanto raises S$16.6m in ongoing Series C round

ANCHANTO, a startup specialising in technology for the e-commerce sector, has raised S$16.6 million in its ongoing Series C round.

Investors in the round included Asendia, a joint venture of the French postal service La Poste and state-run Swiss Post; and MDI Ventures, the corporate venture arm of Indonesian telco Telkom Indonesia.

Anchanto will use the funds to launch two new products, build its data platform and expand to three more markets. The company will also hire skilled talent to accelerate the launch of its products into markets.

Anchanto has been turning a net profit since January. "We are a capital-efficient company. A hundred per cent of our revenue comes from a Software-as-a-Service subscription with high gross margin; we do not buy inventory or run services shops or warehouses," said Vaibhav Dabhade, chief executive and founder of Anchanto.

Asendia, a European cross-border e-commerce shipping and mail services group, was the fourth customer of Anchanto's to turn into a shareholder. The other backers of the startup are Telkom Indonesia, Transcosmos Japan and Luxasia.

Anchanto's flagship product, SelluSeller, is an online multi-channel e-commerce management software and mobile app. The company also offers a system called Wareo, which is a full-suite warehouse management system that helps businesses manage business-to-business and business-to-consumer operations.

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Its customers include Nestle, courier company Pos Malaysia and DHL eCommerce. Having established itself in South-east Asia, the company recently expanded into South Korea, Australia and New Zealand.

Anchanto was founded in 2011. As at last year, its platforms have helped streamlined the operations of more than 12,000 businesses and sellers consisting of over 300 global enterprises. Its customers have processed a combined gross merchandise value of nearly US$2.71 billion via its platforms. Sellers process over four million orders per week.