Logistics startup aCommerce seeking further funding
Thailand-based end-to-end logistics startup aCommerce is seeking to raise more than US$30 million in a series-B funding round.
Insiders say the company is in discussions with global and local private equity groups to raise funding before the last quarter of this year.
Founded in June 2013, aCommerce is a regional full-service e-commerce software provider, delivering tailored product to global brands and retailers including Hewlett-Packard, Lazada, Line, L’Oreal, Matahari Mall, Nestle, Philips, Samsung and Unilever.
In July last year the company raised a $10 million strategic venture round led by MDI Ventures, Telkom Indonesia’s corporate venture capital arm, making it one of the largest series-A rounds for a tech startup in Southeast Asia. Also in the round were Australian firm Blue Sky and Swiss-based services provider DKSH, which had invested in aCommerce previously.
aCommerce, which has a presence in Indonesia, Malaysia, Singapore, Thailand and the Philippines, plans to expand to Vietnam by the end of this year. It is also expecting its Indonesia business to turn profitable in the same time frame.
Proceeds from the latest funding round will be used to strengthen its position in Indonesia, Singapore, Thailand and the Philippines, as well as expand in Malaysia and Vietnam. Its services include marketing, fulfilment, store development, delivery, brand commerce and customer care. It launched a 7000 sqm warehouse in Cawang, Indonesia, last year and three months ago opened hubs in Bandung and Surabaya.