aCommerce Raises $10 Million Venture Round Led by MDI Ventures
aCommerce, the leading end-to-end ecommerce service provider in Southeast Asia, has announced that it has raised a strategic venture round led by MDI Ventures, Telkom Indonesia’s corporate venture capital fund with operations in Jakarta, Singapore, and Silicon Valley.
The news came after the announcement of aCommerce’s most recent Indonesia expansion with its Cawang fulfillment center and 15 distribution hubs around the archipelago. Participating investors in this round include previous investor DKSH (a 150 year old Swiss-based Market Expansion Services provider, SIX: DKSH) and Blue Sky (an Australian investment company, ASX: BLA).
The funds will support aCommerce’s aggressive new market expansion into Southeast Asia, along with strengthening its leading position in the existing markets in which it operates: Thailand, Indonesia, and the Philippines. aCommerce will further enhance its core technology platform and infrastructure as well as build state-of-the-art fulfillment centers in all the respective countries.
Paul Srivorakul, the Group CEO of aCommerce, stated that the partnership with Telkom Indonesia through MDI Ventures is strategic and will help accelerate the development of ecommerce:
“Partnering with MDI and Telkom group, essentially the Indonesian government’s technology arm, fits well with aCommerce’s vision of solving the ecommerce challenges of infrastructure, logistics, and payment systems in Southeast Asia’s largest and fastest-growing market,” said Paul Srivorakul, Group CEO of aCommerce.
Nicko Widjaja, CEO of MDI Ventures, said that the aCommerce investment brings synergies to Telkom Indonesia to further accelerate Indonesia’s ecommerce ecosystem. “Through our strategic investment in the leading ecommerce enabler in Southeast Asia, we see opportunities to offer new digital and commerce services across the entire Telkom ecosystem, capitalizing on over 150 million subscribers.”
MDI Ventures has been active in building out its portfolio of ecommerce initiatives, including ADSKOM (adtech company), YesBoss (conversational commerce), Ematic (ecommerce email marketing suite), and Codapay (alternative payment gateway).
Earlier this year, Telkom Indonesia launched a corporate initiative in e-logistics that will strengthen the group’s current infrastructure. ILCS (Integrasi Logistik Cipta Solusi), a Telkom Indonesia’s subsidiary company, has already been providing solutions (payment and billing, vessel management, cargo and container management, cloud infrastructure, fleet management systems) to ports and companies since 2012.
“aCommerce brings deep domain expertise that will enable us to maximize our existing corporate initiatives. In return, aCommerce will be able to tap into the vast resources, user base, and digital ecosystem offered by Telkom Group,” Nicko added.
Potential joint operations for the e-logistics project has already been explored during initial discussions between MDI Ventures and aCommerce.
aCommerce is a regional full-service ecommerce solutions provider, delivering tailored ecommerce solutions for global brands and retailers such as L’Oreal, Hewlett-Packard, Samsung, Nestle, Lazada, MatahariMall, and LINE among others, and is on a mission to break the logistics bottleneck of Southeast Asia. Founded in June 2013, aCommerce has offices and fulfillment centers in Indonesia, Thailand, and the Philippines. The company provides end-to-end ecommerce technologies and solutions to bring brands and retailers into online retail, including performance marketing, channel management, platform design and development, content production, order fulfillment and warehousing, delivery and logistics, customer service, and call centers.
About MDI Ventures
MDI is a corporate venture capital initiative by Telkom Indonesia which is based in Jakarta with operations in Singapore and Silicon Valley. It is set as an independent entity with its own funding processes. MDI uniquely combines a VC model with services in providing companies from Telkom Group with access to operational assistance and help in building startups’ growth engine after making a ﬁnancial investment. The focus of our investments are on high growth business verticals to enhance digital experience and provide excellent services that lead to an unparalleled customer experience. MDI works closely with global accelerators and venture ﬁrms to bring proprietary technologies from other mature markets into various businesses of Telkom Indonesia.
About Blue Sky
Blue Sky Alternative Investments Limited (Blue Sky) is an Australian Securities Exchange listed (ASX:BLA) alternative asset manager with more than $2 billion in assets under management. Headquartered in Brisbane, Blue Sky has offices in Adelaide, Sydney, Melbourne and New York and a team of over 80 investment professionals and support staff. Since inception, Blue Sky has built a strong investment track record across private equity, venture capital, hedge funds, private real estate, and real assets (primarily water and water infrastructure) of 16.9% per annum compounding (net of fees).
DKSH is the leading Market Expansion Services provider with a focus on Asia. As the term “Market Expansion Services” suggests, DKSH helps other companies and brands to grow their business in new or existing markets. Publicly listed on the SIX Swiss Exchange since March 2012, DKSH is a global company headquartered in Zurich. With 750 business locations in 35 countries – 720 of them in Asia – and 27,600 specialized staff, DKSH generated net sales of CHF 9.8 billion in 2014. In 2015, DKSH celebrates its 150th anniversary. With strong Swiss heritage, the company has a long tradition of doing business in and with Asia and is deeply rooted in communities and businesses across Asia Pacific.