SaaS tech company Anchanto has raised $4 Mn in the first round of the Series C investment led by MDI Ventures.
The company will be using funds to expand its market outreach and to build stronger regional Southeast Asia presence.
On the development, Vaibhav Dabhade, CEO, and Founder, Anchanto, said, “Collaboration with Telkom Indonesia and MDI’s investment is the foundation of Anchanto’s Indonesia Strategy. Through this collaboration, we aim to enable thousands of Indonesian SMEs, Micro-SMEs, and Enterprise businesses to join the ecommerce bandwagon”.
Dabhade believes that with its more than 170 million strong user base, digital platforms, mobile payment and business solution already deployed, Telkom is the ideal partner for Anchanto to scale business in Indonesia.
Founded in 2011, the SaaS technology company, headquartered in Singapore.
As a SaaS platform, Anchanto enables ecommerce sellers, brands, retailers, warehousing and fulfilment service providers to reach over 70 ecommerce sales channels.
Achanto takes care of ecommerce business operations such as – warehousing services, catalogue, pricing, multi-channel selling, logistics, and local and cross-border shipping for enterprise businesses and SMEs.
Commenting on the investment, Nicko Widjaja, CEO AND Investment Director of MDI Ventures, said, “This investment complements our efforts in ecommerce sector, tackling different market segments of Indonesia’s logistics landscape with different approaches. Anchanto’s eWMS provides one of the best dedicated system to synchronize across warehouse management, transportation, and analytics systems.”
Anchanto: Using Saas To Support Ecommerce Companies
Anchanto offers B2B and B3C eCommerce SaaS Warehouse Management System (eWMS) with an integrated Inventory Management System (IMS) and Order Management System (OMS)
Anchanto’s SaaS product, SelluSeller.com provides a software solution to sellers and brands to manage their inventory, orders, and catalogues across over 50 different marketplaces in Asia.
In the past 12 months, sellers across the region have processed over 12 Mn orders totaling more than $258 Mn GMV through its both SelluSeller and eWMS platforms.
Some of the big client Anchanto caters to include Nestle, Luxasia, DKSH, Telkom Indonesia, BOSNET, VIP Plaza, Essilor, Pos Malaysia and La Roche Posay among others.
In the space, Anchanto competes with the likes of Creative Mindz Group, APPily Technologies, SellerGyan, Mobisy, and Eunimart.
Growing Saas Ecosystem In India
The SaaS market in India is expected to cross $50 Bn in the next ten years. The market is expected to reach $1 Bn by 2020, while it accounts for 9% of all software sales at present.
Recently, Chennai-based SaaS startup, Disprz had raised $2.5 Mn in a Series-A funding round. The funds were raised to enhance its data science capabilities and to expand its overseas markets operations.
A report published by Google and Accel Partners predicts that Global SaaS industry is set to become a $132 Bn revenue industry by 2020, and India is likely to contribute 8% of the global SaaS revenue by 2025.
With the growing ecommerce entrants, the technology needs of less-tech favouring economy can be addressed by Anchanto and boost its presence in the market.