Logistics and supply chain management integrator Locad on Monday said it has raised USD 4.9 million (about Rs 36.4 crore) in funding, led by Sequoia Capital India’s Surge. The seed round also saw participation from Antler, Febe Ventures, Foxmont, Global Founders Capital, Gokongwei Family, and Hustle Fund, a statement said. Angel investors including Alessandro Duri (eCommerce, MEA), Paulo Campos (eCommerce, Zalora), Henry Ko (Logistics, Flexport), Huey Lin (Technology, xAffirm and xFlexport), Thibaud Lecuyer (Logistics, Loggi), Oliver Mickler and Tim Seithe (Fintech, Tillhub), Christian Weiss and Tim Marbach (Technology, Venture Capital) also participated, it added.
Locad is part of Surge’s fifth cohort of 23 companies that have developed new digital solutions to help companies and individuals work, live and learn better in a rapidly evolving Southeast Asian landscape. Founded in Manila and Singapore in October 2020 by Constantin Robertz, Jannis Dargel and Shrey Jain, Locad offers e-commerce brands and retailers end-to-end solutions, ranging from plug-and-play e-commerce fulfilment, to a distributed warehousing network in Asia Pacific for companies that are looking to scale their business internationally. It has offices in Australia, Hong Kong, India, the Philippines and Singapore.
“Bengaluru is our Engineering HQ, the heart of our platform is developed here, and we are set on hiring the best and brightest tech talent to drive our expansion goals across the region, Shrey Jain, CTO and co-founder of Locad, said. The logistics market in Southeast Asia is forecast to touch USD 55.7 billion by 2025, as per industry estimates. “At the heart of our mission is the desire to level the playing field in direct-to-consumer commerce by giving brands small and large access to an integrated, distributed and flexible supply chain network that is simple yet scalable,” Locad CEO and co-founder Constantin Robertz said.
“In an industry where reliability and speed could make or break an e-commerce brand, Locad’s ability to provide a one-stop platform, from fulfilment capability to distributed warehousing, allows brands to meet the evolving needs of their customers with flexible, nimble and pain-free logistics solutions, Robertz added.