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News  31, May 2013

Anchanto raises six-digit seed funding from group of investors

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Money_FeaturedSingapore-based Anchanto has just announced a six-digit seed funding from a group of angel investors to forward their sales and marketing activities.

Singapore-based Anchanto, a startup which provides technology, warehouse and logistics platform to traditional brick-and-mortar retailers to kickstart online with mobile and web channels has just raised an undisclosed six-digit seed funding from a group of angel investors. They also told us at e27 that these investors include Chang Sau Sheong, Director of Cloud Computing at HP Labs (ex-director of Engineering at Yahoo!), Akshay Mehra, principal at Innosight Consulting (ex-P&G).

Anchanto was founded in mid-2011 by Vaibhav Dabhade and Shafique Muhammad who both held top positions at Welcome Real-time for more than seven years, and Shivanand Kokate, an ex-E-Scan business manager for North Africa, and Abhimanyu Kashikar who led the team for multiple engineering projects at Wipro for Intel and Motorola before coming onboard. Vaibhav shared that the company will be using this new seed funding for their sales and marketing activities.

Its platform includes necessary online commerce elements like core commerce platforms, warehouse and inventory management systems, order processing and management systems, and key non-software elements such as full facility warehouse located centrally with its delivery fleet and drivers. With this, they also shared that it has secured listed company Eu Yan Sang as its first big customer, and has the entire platform ready and operational locally here in Singapore. Vaibhav told e27, “The idea behind Anchanto is that retailers, manufactures and brands do not need to go through hassle of figuring out technology platform, WHMS, Order Management system, delivery partner selection and day to day back-end management to establish their scalable online business.”

Anchanto targets its platform at traditional retailers and brands who have significant product inventors and a retail mall presence but do not necessarily possess the means and knowledge to combat showrooming and online-only retailers. “Retail business in Singapore is facing multiple obstacles mainly from rising operations costs, heavy mobile penetration and changing consumer behavior. This industry is on verge of massive disruption. I believe Anchanto has the right and complete platform with a capable team that disrupts traditional bricks and mortar only retail model,” said Akshay Mehra.

One of the angel investors involved in this round of funding, Sau Sheong also noted that the team at Anchanto is able to build “solid scalable platforms specifically to bring offline businesses online without too much hassle.” Vaibhav also shared that they will be extending their platform capabilities to combat showrooming, and their next platform release is now under close beta testing. “Anchanto will be announcing and demonstrating it during Echelon 2013. Stay tuned.”

Anchanto will be exhibiting at Echelon 2013 Startup Marketplace this June 4th and 5th. Get your tickets now!

Elaine Huang

Elaine Huang

Elaine is a fervent believer that if there ever is a zombie apocalypse, we will all be snapping away at them with our phones and posting them onto Instagram. A Mass Communication graduate of Ngee Ann Polytechnic's School of Film and Media Studies, she enjoys writing about technology and entrepreneurs. When not hashtagging her way through all sorts of trouble, Elaine is probably contemplating how to write in the third person.

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