#Asia Singapore startup Anchanto raises funding to expand e-commerce logistics platforms in Asia

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Anchanto’s participating investors were beauty products distributor Luxasia and Japanese e-commerce company transcosmos inc. Japan

Anchanto

Singapore-based e-commerce fulfilment company Anchanto has secured funding from beauty products distributor Luxasia Group and existing investor Japanese e-commerce transcosmos inc. Japan (TCI). The figure was not disclosed.

Anchanto will use the newly-raised capital to grow its e-commerce logistics SaaS platform in APAC countries including India, Malaysia, Thailand, The Philippines and Vietnam.

Luxasia, who is an existing client of Anchanto, stated that partnering with Anchanto will strengthen its e-commerce presence. Currently, Luxasia already works with over 3,000 retail outlets to distribute its products. But with offline retail on the decline, building up its regional e-commerce network comes as a prudent move.

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As for TCI, its renewed partnership with Anchanto will allow its clients to expand their presence in APAC markets.

But expanding in Asia, especially in complex, emerging markets, is not without its challenges; tailoring individual solutions for each market becomes necessary.

“We learned that every one of these markets is unique, and the only way to win is to localise products for each one of them. For instance, sellers and distributors in Indonesia require a completely different set of pricing and functionalities as compared to Singapore,” said Vaibhav Dabhade, Founder and CEO, Anchanto.

“We are rapidly adopting our products, pricing and support to each market as if we are building a new software for each market from scratch. For example, Anchanto platforms in Korea are focused only for cross-border e-commerce into Southeast Asia, whereas in India it is focused more on local and cross-border fulfilment,” he added.

Image Credit: Anchanto

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The post Singapore startup Anchanto raises funding to expand e-commerce logistics platforms in Asia appeared first on e27.

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