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.
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 and Australia.
CRMNext offers a cloud-based customer relationship management solution and covers processes across sales force automation, customer service management, social CRM and knowledge management. It had started operations in Middle East, South Asia and Africa last year. The company was founded by Nishant Singh in 2002, and it launched customer engagement product in 2007.
It is worth nothing that Norwest Venture Partners has also invested in other Indian CRM companies Capillary Technologies and Manthan Systems. Capillary technologies raised $15 million in September 2012 from Sequoia Capital, NVP and Qualcomm Ventures, while Manthan Systems $15 million from Norwest Venture Partners.
Chennai-based event listing platform Eventus has raised over $130,000 funding from city-based HNIs, TechCircle reports. The investors have a combined stake of over 10% in the company according to the report.
Eventus owns and operates Eventjini.com, which lists, promotes and sells tickets for events through its platform. The funding will be used to create a presence for Eventus in all major metros in India, and in Singapore over the next six months. The company will also invest in a mobile solution to deal with ticket counterfeiting problems.
Eventus was founded last year and claims to have marketed more than 450 events to date. Competitors in this space include BookMyShow, that seems to have tied-up with Viagogo to offer international tickets, and IndianStage.in, which recently raised funding from Blume Ventures.