Acommerce, a Thailand-based e-commerce service and logistics provider, has closed a $10.7m series A round backed by several corporates and overseen by founder investor Ardent Capital, Tech in Asia reported yesterday.
The round was led by Thailand-based investor Inspire Ventures, and also featured mobile network operator NTT Docomo, conglomerates Sumitomo and Sinar Mas, CyberAgent Ventures, which acts as the corporate venturing arm of internet company CyberAgent, digital consultancy Asia Pacific Digital, JL Capital and additional undisclosed strategic investors.
Founded in 2013, Acommerce has reportedly grown to 250 staff across four offices in Thailand, Singapore, Indonesia and Philippines, and plans to now expand into Malaysia and Vietnam. It previously raised $3.1m in from NTT Docomo and CyberAgent in December 2013.
Paul Srivorakul, Acommerce’s CEO and founder, claimed the round represented the largest ever raised by a Thailand-based startup. The company intends to enhance its logistics infrastructure and systems with the money.