Southeast Asia’s aCommerce raises further $10m

Australia-based fund Blue Sky Venture Capital and existing backer DKSH also participated. In December, Switzerland-based market expansion firm DKSH acquired a 20% stake in aCommerce for an undisclosed sum. 

Based in Thailand, aCommerce was launched in 2013 with backing from Ardent Labs, which operates much like a VC accelerator. It seeks to address scaling problems in e-commerce by providing end-to-end solutions in areas such as channel management, performance marketing, content production, customer services, and business-to-customer delivery and logistics. It operates in Indonesia, Singapore and the Philippines.

ACommerce received $10.7 million in Series A funding in June 2014 from investors including Ardent Capital, Indonesian conglomerate Sinarmas and Inspire Ventures. The company's existing backers provided a further $5 million in May of this year, which was described at the time as preparation for a larger Series B round in the second half of 2015.

However, the company has postponed the Series B fundraise to later this year, as it wants to grow further in order to secure a more favorable return. The firm plans to use the fresh capital to scale up its business in Vietnam and Malaysia, aCommerce's co-founder and CEO Paul Srivorakul told TechCrunch.

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• Topics
• Southeast Asia
• Technology
• Venture
• Expansion
• Thailand
• TMT
• Logistics
• Growth capital
• Blue Sky Private Equity