Thailand-based company aCommerce that provides end-to-end logistics service has raised extra $5 million for its current investors, before the Series B round that is expected to be more than $30 million.
aCommerce which has its headquarters as Bangkok, offers backend support and logistics for many ecommerce retailers that included Japanese messaging app Line. The new funding comes from prevailing investors Ardent Capital, Indonesia conglomerate Sinarmas and Inspire Ventures. Last June, the company raised $10.7 million in Series A round funding. Coming June, the company is looking forward for its B round in the second half. But company’s co-founder and CEO Paul Srivorakul said that it may have to be postponed for later so that company can give more attention on the execution. He explained, “We are giving momentum so internal investors wanted to focus on growing the business in order to raise a bigger round.”
With the recent fund, the company plans to spend it on building up its tech platforms and expand e-commerce in Indonesia. The company in its statement said, “The demand for aCommerce’s services in Indonesia has exceeded forecasts thanks to the speed a growth of heady new entrants to e-commerce in Indonesia and major clients signed. The aCommerce internal fundraising round will be used to build areas in marketing, technology platforms, expand warehouse space and recruitment. The Indonesian team is expected to exceed 300 staff members.”
Srivorakul said the aCommerce revenue regionally has increased by 700% to 800% in the last one year, though no raw figures were provided. He added, “We are thinking about how much value we can add over the next eight to nine months. This additional time allows us to really execute.” Srivorakul said many potential investors approached the company to develop and growth the business, so the company, right now, is working on to select the right investor team to take the next step.