Singapore-based logistics and supply chain management integrator, Locad, has raised US$4.9 million in a seed round led by Sequoia Capital India’s Surge.
Other backers include Antler, Febe Ventures, Foxmont, Global Founders Capital, the Gokongwei Family, Hustle Fund, and unnamed angels.
Locad was launched in 2020 by ex-Zalora and ex-Grab executives Constantin Robertz, Jannis Dargel, and Shrey Jain. They decided to create the startup when they realised that not everyone with online business has knowledge about running logistics.
Also Read: Locad founder on building SEAs first cloud logistics network in the midst of COVID-19
“I figured that not every brand, retailer and business that want to sell online should have to go through figuring out how to build warehouses, the tech that supports it and runs their logistics. Because of that, we built Locad as the on-demand supply chain and fulfillment network for e-commerce brands so they can focus on selling more and developing great products and not figuring out how to run warehouses and logistics,” said Robertz.
Through its platform, brands can manage their orders and stocks from a single virtual pool across multiple sales channels, with visibility of sales, orders, inventory, and service levels.
Locad’s customers also have the opportunity to integrate with e-commerce platforms such as Shopify, WooCommerce, Amazon, Shopee, Lazada and Zalora.
The startup is currently a part of Surge’s fifth cohort of 23 companies.
“We are now serving more than 30 brands across the Philippines, Singapore, and Australia, helping small businesses to some of the largest retailers deliver tens of thousands of items each month. We’re excited to be providing logistics infrastructures to e-commerce businesses of any size in these countries and we will continue to grow our presence across the region,” shared Dargel.
The logistics market in Southeast Asia is expected to total US$55.7 billion by 2025 – demonstrating the growing demand and necessity for flexible, technology-enabled solutions.
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Image Credit: Locad
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