A provider of end-to-end e-commerce services called aCommerce has closed its Series A funding round of US$10.7 million (Bt347 million), making it the largest Series A for a Thailand-originated venture and one of the largest in Southeast Asia to date.
Organised by its founding investor, Ardent Capital, the round was led by Bangkok-based Inspire Ventures with participation from NTT Docomo, Sumitomo Corporation Equity Asia Ltd, Sinar Mas Indonesia, Asia Pacific Digital, Cyberagent Ventures, JL Capital, strategic angel investors, and key executive staff.
“In just one year, aCommerce has built a stacked team of players from Amazon, Walmart, DHL, eBay, Apple, Oracle, McKinsey, Microsoft, and Rocket Internet and expanded into four robust Southeast Asian markets,” said Tom Kim, partner and co-founder of Inspire Ventures.
Upbeat on future
“With their global experience and local expertise, we are confident in this team’s ability to execute and become the dominant e-commerce solutions provider in the region. E-commerce is growing rapidly, and these guys are well positioned to capitalise on this disruptive global trend.”
Founded last June, aCommerce has four offices and employs more than 250 staff across Thailand, Singapore, Indonesia and the Philippines.
The firm will use the new capital to strengthen its e-commerce logistics infrastructure, expand its delivery fleet, develop its AMP (asset management platform) technologies, and expand its channel management and PopShop products, which are online “pop-up stores” for brands to sell directly on content sites.
The company will also ramp up its cross-border solutions such as customs clearance, Food and Drug Administration certification, and local business operating licences for global brands and retailers to expedite their entry to Southeast Asian markets.
The firm is a regional e-commerce service provider delivering customised solutions for global brands such as L’Oreal (Maybelline, Kiehl’s), HP, Line Chat, and Groupon among others.