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.