In its latest round of funding, Singapore and Pune (India) based startup Anchanto receives an undisclosed amount from Luxasia Group and Transcosmos Inc. Japan. The company plans to deploy the fund to propel its network of partners, sellers, and service providers within Southeast Asia.
Founded in 2011 by Vaibhav Dabhade and Abhimanyu Kashikar, Anchanto, today serves more than 1000+ sellers across 9 countries including India, Singapore, Malaysia, Thailand, Philippines, Vietnam, and others. Most recently it has started operations in Australia and India and is increasing employees headcounts in management, sales, and marketing teams.
In an official statement, Vaibhav Dabhade, CEO and Founder, Anchanto said, “we are in the business of providing enterprise SaaS products to empower e-commerce logistics and online selling and take them to the next level. We help brands and sellers to sell across channels and metamorphose traditional into e-commerce logistics players.”
“This investment is crucial in our ambition to reinforce our leadership in markets we are presently in and also venture in other countries by growing our team and further develop our products’ capabilities,” he added.
Luxasia is a current customer of Anchanto and TCI is their existing investor who participated in Series-B funding in November 2015.
Commenting on the investment, Okuda Masataka, President and COO, Transcosmos Inc said, “Many of our clients are seeing the huge market potential for e-commerce of their products in ASEAN countries. In order to meet such clients’ needs, TCI has decided to invest in Anchanto to enforce our service capability in end-to-end e-commerce solutions in ASEAN. The strategic alliance with Anchanto brings tremendous business synergy and valuable integration of Anchanto e-commerce platform.”
Southeast Asia is poised to become one of the world’s fastest-growing regions for e-commerce revenues, exceeding US$25 billion by 2020. While significant challenges persist, Frost & Sullivan remains optimistic about the growth potential of e-commerce in Southeast Asia.Total revenues from business-to-consumer (B2C) e-commerce in the six largest Southeast Asian countries, namely Indonesia, Malaysia, The Philippines, Singapore, Thailand, and Vietnam, will increase at a CAGR of 17.7%.
Considering the market opportunities, Anchanto is all set to become a true e-commerce enabler. In a latest bid to join the e-commerce bandwagon, the company has unveiled a SaaS based product ‘SelluSellar’ that enable a merchant or seller to sell hassle-free across the marketplaces.