Anchanto, a B2B software-as-a-service (SaaS) startup, has raised US$12.1 million (Singapore $16.6 million) in its ongoing Series C round.

This funding round included investors like Asendia and MDI Ventures.

As per the startup, it plans to use the funding amount to strengthen its R&D portfolio to launch 2 new products, build a data platform, and expand to three more markets.

And as the demand for SaaS solutions on the rise. Anchanto also plans to invest in hiring skilled talents to enhance and accelerate the launch of its new products into markets.

Founded by Vaibhav Dabhade in 2011, Anchanto is a Singapore and India-based SaaS startup specializing in eCommerce technology.

Anchanto, with its cutting-edge technology, simplifies backend operations and helps eCommerce operations achieve unprecedented productivity through automated selling management.

Talking about this funding round, Vaibhav said,

“Achieving profitability in these times is an excellent performance. I feel this is a more significant achievement than raising $12 million in the middle of the COVID-19 crisis. We are a capital-efficient company. One hundred percent of our revenue comes from a SaaS subscription with a high gross margin; we do not buy inventory or run services shops or warehouses.”

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