Singapore-based e-commerce firm Anchanto raises US$4m in first round of Series C funding

A SINGAPORE-HEADQUARTERED technology company has raised US$4 million in the first round of its ongoing Series C investment, led by MDI Ventures, Telkom Indonesia’s corporate venture capital arm.

On Tuesday, e-commerce firm Anchanto said that the proceeds of the fund will be used to expand its market outreach and to build a "stronger regional South-east Asia presence".

MDI Ventures' funding comes after Series B funding that the company secured from Transcosmos Inc Japan and Luxasia Group, Singapore in May 2017.

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Anchanto’s software-as-a-service (SaaS) platforms connect e-commerce sellers, brands, retailers, and warehousing and fulfillment service providers to more than 70 e-commerce sales channels.

According to the company, sellers across the region have processed more than 12 million orders totalling more than US$258 million in gross merchandise volume through its platforms over the last 12 months.

Anchanto's chief executive and founder Vaibhav Dabhade said: “Through this collaboration, we aim to enable thousands of Indonesian SMEs (small and medium enterprises), micro-SMEs, and enterprise businesses to join the e-commerce bandwagon... We are going to empower Indonesian entrepreneurs to scale their businesses in South-east Asia's biggest e-commerce market.”

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Nicko Widjaja, CEO and investment director of MDI Ventures, said that the investment will complete the end-to-end e-commerce solutions that’s in the portfolio, and strengthen the nation’s e-commerce ecosystem.

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