Anchanto, an e-commerce logistics-as-a-service provider has raised a round of funding led by Innosight Ventures, with the additional funds coming from Cub Capital, Scott Anthony and Akshay Mehra, reports YourStory. The amount of funding has not been disclosed yet. Anchanto provides logistics services like inventory warehousing, picking, packing, delivery, and returns collection to e-commerce companies in South East Asia. This Pune and Singapore-based company will use the funds raised to expand its capacity in Singapore, improve its technology and will also set up a fulfilment operations in Kuala Lumpur, Jakarta and Bangalore. The Singapore setup will be expanded to 74,000 cubic feet of inventory-racking system, that can handle 4,000 orders per day. As a part off the investment, Piyush Chaplot, a partner in Innosight Ventures will join Anchanto’s Board, while Michael Blakey, founder and partner of Cub Capital will join as an advisor. Logistics is a pain point for many e-commerce players, mainly because of the high rate of returns, over 25% in India. Anchanto is entering a very competitive space dominated by SingPost and aCommerce in South East Asia. Meanwhile, in India, e-commerce giants have their own logistics divisions, or have tied up with established logistics players like eKart, BlueDart, Gati, FedEx and DTDC. Some city-specific players like GharPay, Dial-a-service, Delhivery and Chhotu have also emerged in this space. * Delhi-based startup CRMNext raised Rs 42 crore in funding from Norwest Venture Partners, The Economic Times reports. It will use the fresh investment to expand operations in the US, Europe…
