(L-R) Locad Co-Founders Shrey Jain, Constantin Robertz, and Jannis Dargel
Singapore-based Locad, which provides a cloud supply chain for brands to store, pack, ship, and track orders for e-commerce and omnichannel retail, has raised US$11 million in Series A funding led by Reefknot Investments, a fund anchored by Temasek and logistics powerhouse Kuehne & Nagel.
Returning investors Sequoia India, its startup programme Surge, Febe Ventures, Antler, Access Ventures, JG Summit and JG Digital Equity Ventures, and Western Technology Investment also joined.
The funding will be used for network expansion, product development, and hiring talent across Asia Pacific.
Also Read: Locad lands US$4.9M seed to provide logistics infra for e-commerce businesses
Locad’s platform syncs inventory across sales channels, such as Shopify, Lazada, Shopee, and TikTok Shop. Additionally, it orchestrates end-to-end order fulfilment for B2C and B2B orders, from storage to delivery, through a network of warehouses and shipping partners.
To date, Locad has served over 200 brands across Singapore, the Philippines, Thailand, Hong Kong, and Australia. It claims to have shipped more than two million orders.
“Ultimately, our goal is to enable a frictionless movement of physical goods and data across the supply chain for any brand and merchant. This enables anyone to sell anywhere, on any sales channel, and deliver seamlessly,” said Locad CEO and Co-Founder Constantin Robertz.
“As modern consumer brands transform to direct-to-consumer and omnichannel retail, we have seen that the supply chain and fulfilment infrastructure is a key barrier to scaling the business for many brands. The bar is only rising further due to higher customer expectations for fast delivery and the complexity driven by an increasing number of sales channels,” he added.
Locad supports the e-commerce and omnichannel growth of global consumer brands such as Havaianas, Recki Benckiser, and Emma Sleep in the region.
“Over the next five years, we expect to build the region’s largest network of warehouses, enabling next-day delivery in Tier 1 to 3 cities across the region, and make this available to brands and merchants in one integrated platform,” concluded Constantin Robertz.
Locad is the logistics engine enabling e-commerce brands with a cloud supply chain to grow their omnichannel business and automatically store, pack, ship, and track orders across Asia Pacific.
In July 2021, Locad received US$4.9 million in a seed round led by Sequoia Capital India’s Surge.
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