Singapore’s Anchanto snags funding from Asendia, MDI Ventures

Anchanto founder and CEO Vaibhav Dabhade. (Photo courtesy of Anchanto)

Singapore-based e-commerce enabler Anchanto has snagged fresh funds as part of its ongoing Series C round from existing investor MDI Ventures and new investor Asendia, a joint venture between French La Poste and Swiss Post, the company announced on Thursday.

The firm has raised a total sum of S$16.6 million ($12.1 million) in the ongoing round.

MDI Ventures, the corporate venture arm of Indonesian telco firm Telkom Indonesia, participated in the second round of the Series C funding by putting in an additional sum of S$2 million. In January this year, Anchanto raised S$4 million from MDI Ventures as part of the same round.

MDI also invested in the first part of Anchanto’s Series C round in 2018, which was closed at $4 million.

Anchanto is seeking to close its Series C round at $35 million.

Anchanto will allocate the proceeds to accelerate its product portfolio development, build a data platform, hiring new talent and expand to three more markets.

“Achieving profitability in these times is an excellent performance. I feel this is a more significant achievement than raising $12 million in the middle of the COVID-19 crisis. We are a capital-efficient company. 100% of our revenue comes from a SaaS subscription with a high gross margin; we do not buy inventory or run services shops or warehouses,” said Anchanto founder and CEO Vaibhav Dabhade.

Asendia, one of Anchanto’s customers, is a European cross-border e-commerce shipping and mail services giant. Asendia becomes Anchanto’s fourth customer to turn into a shareholder following MDI (Telkom Indonesia), Transcosmos Japan, and Luxasia.

Founded in 2011, Anchanto is a global B2B SaaS product firm that enables brands, retailers, e-distributors, e-commerce enablers, service providers, third-party logistics providers (3PLs), SMEs, and postal associations to streamline and manage end-to-end e-commerce operations.

The firm operates in over 14 countries.

The firm raised its Series A round in 2014 led by Innosight Ventures with participation from Cub Capital in 2014. A few years later, the firm closed its Series B round from Luxasia and TransCosmos.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.