Asendia and existing investor MDI Ventures helped the e-commerce management software producer take its series C funding to $12.1m.

Singapore-based e-commerce software provider Anchanto has increased its series C round to S$16.1m ($12.1m) with new funding from corporate investors.

MDI Ventures, the investment arm of telecommunications firm Telkom Group, provided the extra cash along with Asendia, the parcel delivery service formed as a joint venture by postal services La Poste and Swiss Post.

The round’s $4m first tranche was led by MDI Ventures in mid-2018 before the unit returned to add another $4m in January this year.…

Robert Lavine

Robert Lavine is special features editor for Global Venturing.