Ecommerce logistics startup aCommerce closes USD 10.7 million
Thailand-based startup, aCommerce has raised USD 10.7 million in series A round, as reported by TechCrunch. The round was led by investor Ardent Capital, Inspire Ventures with participation from Sumitomo Corporation Equity Asia Limited; NTT DOCOMO; Asia Pacific Digital; Cyberagent Ventures; Sinar Mas Indonesia; and JL Capital, as well as executive staff and angel investors.
It aims to utilize the new funds to expand its logistics infrastructure, delivery fleet, technology platform. Also, it will be used for channel management in each of its current markets and seek partnerships with other logistics and Ecommerce companies.
More from TechCrunch: aCommerce will also invest in customs clearance, FDA certification, and local business operating licenses for international companies that want to break into the Southeast Asia market. The company already provides services for brands like L’Oreal; HP; Line Chat; and Groupon.
Paul Srivorakul, regional CEO of aCommerce, explains logistics in Southeast Asia is challenging for vendors because the market is extremely diverse with multiple distribution channels “We make it easy for brands and retailers to sell online by providing ‘turnkey’ end-to-end e-commerce services and products across the region, from customs, web development, and digital marketing to local language customer service support, payments, fulfillment, and collection-on-delivery.”
Touch Talent gets USD 680 K in seed funding from SAIF Partners
Online marketplace, Touch Talent has raised USD 680,000 in a seed round from private equity firm SAIF Partners. The other angel investors Deep Kalra of MakeMyTrip and Sachin Bansal and Binny Bansal of Flipkart have also participated in the round.
The company aims to utilize the raised funds to build its product and team, move into newer geographies. as well as extend its mobile presence.
Founded in 2012 by ex-IIT Delhi students Prasad and Mohammad Wasim, Touch Talent is a web-based community that connects creative professionals such as artists, musicians, photographers and designers, and helps them to share, display and monetise their creations. The company is targeting an user base 2 million by the end of the year from the current 300,000. The pre-revenue startup, which currently plans to make money through a premium subscription model, will consider going for its Series A round of funding by the end of the current fiscal. (As covered by Venture Intelligence Blog)
Economic Times says: This is the second early-stage investment by SAIF Partners in less than a month. It had earlier invested Rs 12 crore, along with Helion Ventures, in Mumbai-based online test preparation startup Topper, which helps students prepare for the Joint Entrance Examination and medical entrance exams.
“There has been a fundamental change in the quality of entrepreneurs in India and their teams. We’re seeing significant opportunities, and want to jump in at an earlier stage,” said Mukul Singhal, principal, SAIF Partners.
Scheduler Logistics taps USD 2 million from Aspada investment company
Pune based, logistics service provider, Scheduler Logistics has raised USD 2 million a fresh round, as per a Business Standard report. The round was led by Bangalore-based Aspada Investment company backed by globally renowned George Soros.
The company aims to utilize the raised funds to increase the company’s presence in underserved regions such as the Eastern and North-Eastern states.
DealCurry says: With its investment in Schedulers which serves fruit and vegetable, food processing, and pharmaceutical industries, Aspada seeks to capitalize on the cold storage market which is expected to grow at a CAGR of 28% to touch a market size of USD 13 Billion. Aspada has been actively investing in the supply chain areas. In Jan this year it funded ThinkLink Supply Chain Services, a provider of turnkey project management, design, skill development and staffing services in India’s logistics and supply chain sectors.
In April 2013, it invested in end-to-end fresh vegetable supply chain company – Lawrencedale Agro Processing Private Limited.
Early this year the Bangalore based fund had received additional commitment of USD15 Million from Soros Economic Development Fund (SEDF), a social investment fund set up by billionaire investor George Soros.
More from Business Standard: “We are thrilled to be working with the Aspada team given their significant experience in investing in India’s supply chain and agricultural logistics sectors. Aspada’s investment will allow us to increase our presence in underserved regions such as the Eastern and North-Eastern states,” said Colonel Arvind Gangoly, CEO of Schedulers Logistics.
“We believe that the cold chain market in India will grow at a brisk pace over the next five to eight years and offer opportunities for consolidation and professionalisation in what is a highly unorganised space. We are excited to partner with the Schedulers team in their journey to build a large organisation that will have high impact on food and pharmaceutical supply chains in India,”said Tom Hyland, Partner of Aspada Investment Advisors.
Additionally, Aspada also oversees the portfolio of the SONG Fund, an early stage venture capital firm funded by the Soros Economic Development Fund, Omidyar Network and Google.
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Category Business Investments