MDS to invest $16m more as part of yearly plan, taking its stake to 18 per cent.
Starting out as an e-commerce delivery firm, it expanded into ride hailing in 2016.
The used phone commerce site had last raised over $1.8 million in seed funding in 2015.
Prominent niche players include Fabelio (furniture) and Laku6 (used phones).
aCommerce is in discussions with 2-3 private equity (PE) players to raise funding.
It'd join Alibaba and JD.com with its foray into the archipelago's e-commerce market.
Alibaba is learnt to be in discussions to lead a funding round worth up to $500m.
Q & A
Saratoga CFO Jerry Ngo talks about the PE landscape in SE Asia.
NSI Ventures' first vehicle was a $90-million fund it had raised in 2015.
Jakarta-based niche e-commerce startups are on a fund-raising trail.
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