Singapore-based e-commerce software provider Anchanto has increased its series C round to S$16.1m ($12.1m) with new funding from corporate investors.
MDI Ventures, the investment arm of telecommunications firm Telkom Group, provided the extra cash along with Asendia, the parcel delivery service formed as a joint venture by postal services La Poste and Swiss Post.
The round’s $4m first tranche was led by MDI Ventures in mid-2018 before the unit returned to add another $4m in January this year. The company plans to close the round at $35m according to DealStreetAsia.
Founded in 2011, Anchanto has developed a software platform that helps online retailers manage inventory, process sales and streamline the order fulfilment process. It plans to use the funding to develop and launch two new products and enter three new countries.
Asendia chief executive Marc Pontet said: “Asendia intends to continue its journey along the cross-border e-commerce value chain and support the growth of an innovative technology company serving the international growth of global brands.
“We have high hopes for further co-operation with Anchanto and we expect that we are going to create additional growth and synergies for the company thanks to our logistics and technology capabilities.”
Anchanto raised an undisclosed amount of series B-plus funding from outsourcing services provider Transcosmos and online beauty product retailer Luxasia Group in 2017.
Transcosmos held a 34% stake as of a 2015 investment that came after an undisclosed amount of series A financing from Innosight Ventures, Cub Capital, Scott Anthony and Akshay Mehra the previous year.
