Japanese e-commerce enabler AnyMind raises funding in equity, debt for acquisitions – TechCrunch
The pandemic has triggered demand for more online shopping and spurred many smaller retailers to set up their own online services. Japan Trade Administration AnyMindsupporting the online activities of brands and influencers, closed a Series D round worth 5 billion yen (US$36 million) thanks to that push to make more acquisitions in Japan and globally.
The Series D funding, bringing total funding to date to approximately $91.7 million, includes ¥4 billion (29.4 million) in equity and 1 billion yen in debt. Investors include JIC Venture Growth Investment, Japan Post Investment, Nomura SPARX Investment, Proto Ventures and Mitsubishi UFJ Capital. Mizuho Bank has provided debt facility. The startup did not disclose its value.
AnyMind acquired ENGAWA, a cross-border marketing company based in Japan, last January with Series C proceeds. Prior to that acquisition, AnyMind acquired six companies for acquisition. leased and expanded its sales channels in different regions, including POKKT, a mobile advertising platform in India; Thailand-based multi-channel network (MCN) Moindyhelp curate video content for influencers; Acqua Media, a mobile advertising platform in Hong Kong; and LYFTa D2C fitness brand in Japan.
Most of the founders of the acquired companies retain their positions in AnyMind to support continued growth, AnyMind co-founder and CEO Kosuke Sogo told TechCrunch. The Moindy founder became the company’s country director in Thailand, and the POKKT co-founders are now the company’s COO and chief operating officer for India and the Middle East, Sogo added.
Founded in 2016 in Singapore, AnyMind has expanded into Southeast Asia, East Asia, India and the Middle East through strong acquisitions. The startup moved its headquarters to Tokyo, Japan in 2019 to list on the Tokyo Stock Exchange, which requires its office to be located in Japan. Sogo told TechCrunch that AnyMind received approval for its IPO but canceled it in March as market conditions began to deteriorate.
AnyMind offers a number of services to brands and online business operators. It Launch AnyChata chat commerce platform, in March, and AnyX, an e-commerce management platform, in April, enables optimized e-commerce operations through centralized management of multiple e-commerce channels. Sogo told TechCrunch that AnyX is integrated with Asian e-commerce marketplaces like Shopee, Rakuten, and Lazada, and global e-commerce marketplaces like Amazon and Shopify.
Its production platform AnyFactory, is connected with more than 200 manufacturers across Asia, making it easy for anyone to find the best suppliers to make their products. The company’s logistics management platform AnyLogi enables complete D2C and e-commerce brands.
The company currently supports more than 1,000 brands, including TikTok, Canon and Traveloka to support marketing and commerce, and more than 1,110 publishers, including Pantip, Gizmodo Japan and Anglers, to monetize advertising and business their D2C business. It also works with over 1,400 creators to develop their own D2C brand.
“Many of our customers choose us because they can tap the whole of Asia – whether it’s regional influencers, logistics networks, manufacturers, expertise in expanding markets. and more,” Sogo told TechCrunch.
The company said it hit $174 million in revenue. AnyMind operates 17 offices across 13 markets with over 1,000 employees.
“Despite COVID-19 and the geopolitical circumstances impacting the world, we were able to achieve solid growth as a business,” Sogo said. “On the other hand, we are seeing economies across Asia, including our active markets ASEAN and India, rapidly regaining momentum.”
