Funding for online
On 9th May 2017, Anchanto announced that it had successfully raised a Series B+ funding round from Asian omnichannel beauty retailer, Luxasia, and e-commerce market enabler, Transcosmos.
Luxasia, an existing software user of Anchanto, supports traditional logistic needs and helps businesses to progress digitally. It has invested an undisclosed amount of funding into the e-commerce and technology platform to enable it to advance its e-commerce logistics SaaS platform.
Distribution leader in the beauty industry, Luxasia, will apply a consumer-centric approach with its omnichannel experience and marketing strategies to help Anchanto expand and build commercial relationships in India, Malaysia, The Philippines, Vietnam, and Thailand, it announced to the press.
“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.
Highlighting the varying strategies adopted for tailoring each approach to specific nations in APAC, Dabhade added: “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.”
Anchanto hopes that by launching in these key APAC markets, it will confidently communicate the convenience and ease-of-use associated with online applications.
As a result, the company aims to appeal to experiential shoppers that currently opt for physical in-store purchases over e-commerce options and convert them into digital buyers.
In November 2015, the e-commerce enablement platform generated a Series B round from TCI, a Japanese e-commerce providing platform. Previous to this in August 2015, it also raised a Series A round of funding from Singaporean investor Innosight Ventures.
After achieving its latest round of funding and moving ahead with Luxasia, Anchanto announced to the press that it is “rapidly adapting our products, pricing and support to each market as if we are building a new software for each market from scratch.”