eCommerce and fulfillment technology platform Anchanto raises a series A round led by Innosight Ventures
Anchanto is Singapore and Pune, India based eCommerce Web Store and Fulfillment Platform company that has today announced a Series A investment led by Innosight Ventures, with the additional funds coming from Cub Capital , Scott Anthony and Akshay Mehra. The company was founded by Vaibhav Dabhade and Abhimanyu Kashikar in 2011. Vaibhav comes from a family that has been in logistics from three generations and Abhimanyu comes from a B2B Enterprise platforms and large scale software development background. The amount of funding hasn’t been disclosed and the company had initially also raised a seed round to get the operations kicking.
Achanto helps business, brands and retailers to build enterprise grade web stores and provides fulfillment technology platform coupled with inventory warehousing, picking, packing, delivery i.e. forward logistics and returns collection i.e. reverse logistics in South East Asia. The financing will be used to fund Anchanto’s Singapore capacity expansion by 8 times to meet existing and new customer requirements, further investment in its propriety technology platform and setting up fulfillment by Anchanto operations in Kuala Lumpur, Malaysia; Jakarta, Indonesia and Bangalore, India. Singapore setup will be expanded to 74,000 cubic feet of ready to pick and pack inventory-racking system, and 4,000 orders par day picking, packing and delivery in Singapore. Piyush Chaplot, partner in Innosight Ventures will join Anchanto’s Board and Michael Blakey, Founder and Partner in Cub Capital will join as Advisor to Anchanto.
“Anchanto has figured out disruptive logistics technology platform which makes it extremely easy for growing number of pure play eCommerce businesses, brands and retailer to scale their business in fast growing Asia region. Conventional logistics industry is ready for disruption, it’s too old school and cannot cater to needs of new age eCommerce businesses,” said Piyush. Anchanto is currently 18 member strong and calls itself a technology company at core, “Our technology team is focused on making things simple for our customers, automating every possible activity, resource tracking, allocation and identifying ways to optimize resources,” says Abhimanyu.
Pure play online businesses, retailers and brands can pick and choose different modules of Anchanto technology, either to get full 360-degree platform including Web store or use only Fulfillment by Anchanto (FBA) for managing inventory and processing orders. WebStore built on non-Anchanto technology can be integrates with FBA with an API or plugins to offload on fulfillment operations to Anchanto.The company has a growing list of customers and added three new customers in April 2014 alone- Crème-Simon a heritage cosmetics brand from France, Cluster-Cluster a Home & Living e-tailer and Pomelo Fashion a Thailand based Fashion e-tailer. “Anchanto has a very strong customer pipeline and over the next 6 months will be launching operations in Malaysia Indonesia and India, says Vaibhav.