Locad, a cloud supply chain-as-a-service company based in Singapore, has raised US$9 million in a pre-Series B funding round, co-led by Global Ventures and existing investor Reefknot Investments.
Other participants include Sumitomo Equity Ventures and returning backers Antler Elevate, Febe Ventures, and JG Summit.
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The firm will use the money to accelerate its international expansion, starting with the UAE and Saudi Arabia in Q4 2024, as part of its “grow global, go local” strategy. A portion of the money will be used to enhance Locad’s AI-driven smart logistics capabilities.
Locad is a smart digital logistics engine aiming to build the supply chain infrastructure of modern commerce, connecting brands to consumers in growth markets with a global cloud supply chain as a service. It enables e-commerce brands to grow their omnichannel business and automatically store, pack, ship, and track orders across their B2C and B2B distribution channels.
Locad’s tech platform syncs inventory across online channels and organises end-to-end order fulfilment through its network of warehouses and carriers across APAC, the US, and the Middle East.
Through this, brands and merchants get a geographically distributed warehousing infrastructure that allows them to stock goods closer to customers, enabling faster delivery at a lower cost.
The company said it works with over 300 consumer brands across Southeast Asia and Australia.
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Constantin Robertz, CEO and co-founder of Locad, said: “Over the last four years, we have built a cloud supply chain platform in APAC that allows brands to unify their omnichannel distribution and access localised fulfilment in SEA and AU growth markets. We are now excited to take Locad global, opening our presence in the US and entering the GCC to make it easier for brands to sell anywhere with a fully localised customer experience.
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