Singapore-based Anchanto has received funding from omnichannel retailer Luxasia Group and its existing investor, the TSE-listed global end-to-end e-commerce enabler, transcosmos inc. Japan (TCI). It had invested earlier in Anchanto in its Series B funding in November 2015. The financial details of the deal remain undisclosed.
The company provides enterprise SaaS products to boost e-commerce logistics and online selling and take them a notch higher. They enable brands and sellers to sell across channels and “metamorphose traditional into e-commerce logistics players.” Vaibhav Dabhade, Founder and CEO, Anchanto, commented on the funding round,
TCI has built a strong end-to-end Asian e-commerce offering over the last five years in the region by providing e-commerce market entry gateway services. Both companies, Luxasia and TCI are Anchanto software users and I am indeed elated to receive investment from them.
With the fresh inflow of funds, the company is seeking to further strengthen its leadership in the Asia-Pacific (APAC) countries. It is also looking forward to expanding its operations in India, Malaysia, The Philippines, Vietnam, and Thailand. It aims to help retailers to realise more business opportunities by entering the ‘online world of e-commerce’. It will also assist traditional logistics players in transforming their businesses and begin catering to online sellers. Vaibhav adds,
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.
It now has customers in more than 10 countries across the world and helps customers integrate seamlessly onto over 41 marketplaces such as Flipkart, Amazon, Lazada, Zalora, Qoo10, eBay among others to push inventory, digital contents, and promotions and receive customer orders, all in real time. It’s key clients include 3M, Paytm, DKSH, Luxasia, Essilor, La Roche Posay and ASOS.
Luxasia is Asia’s one of the leading omnichannel leader. With its consumer-centric go-to-market strategies and omni-channel distribution approach, it has helped over 120 international beauty brands successfully penetrate Asian markets. Dr. Wolfgang Baier, Group CEO, Luxasia, remarked,
Connecting global beauty brands to consumers in Asia is our priority. This partnership with Anchanto will help us expand Luxasia’s services even faster, becoming the leading beauty omnichannel platform in Asia.
