E-commerce technology provider Shopmatic today said it has raised USD 5.7 million from a group of investors led by venture capitalist firm ACP Pte Ltd and Spring Seeds Capital.
The company will use this fund to expand its global footprint.
"Shopmatic..Has raised USD 5.7 million of Series AA funding led by ACP Pte Ltd, a technology focussed Venture Capital firm, and Sping Seeds Capital Pte," the company said in a statement.
The technology firm at present has operators in India, Singapore and Hong Kong.
"After having successfully scaled its operations in India, Singapore and Hong Kong, Shopmatic will be using the funds to expand into other markets in Indonesia, the Philippines and the Middle East," the statement said.
As part of this round of funding, ACP Managing Partner Sameer Narula will join the board of directors of Shopmatic.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.