MDI Ventures, the corporate venturing vehicle of telecommunications network Telkom Indonesia, has led an A$13.6m ($10m) for Thailand-based e-commerce services provider aCommerce, Australian Financial Review reported yesterday.
The round also included marketing and product services company DKSH, which had invested between $20m and $25m in aCommerce in December 2015 according to TechCrunch, and venture capital firm Blue Sky Venture Capital.
Founded in 2013, aCommerce provides a range of services to online retailers including marketing, technology development, channel and cross-border management, warehousing and fulfilment, last-mile delivery and customer service.
The company, which already operates in Indonesia, Singapore, Thailand and the Philippines, will use the funding to expand in Vietnam and Malaysia. It plans to raise another $50m in a series B round before the end of 2016, CEO Paul Srivorakul told TechCrunch.
The round, and DKSH’s earlier investment, follows a $3.1m seed round in 2013 featuring mobile network NTT Docomo and internet company CyberAgent, and a $10.7m series A round in mid-2014 backed by NTT Docomo and CyberAgent, conglomerates Sumitomo and Sinar Mas, consultancy Asia Pacific Digital, JL Capital, Ardent Capital and Inspire Ventures.
Sinar Mas subsequently supplied $5m in bridge funding for aCommerce together with Ardent Capital and Inspire Ventures in May 2015.