Locad raises $11M to expand logistics platform in Southeast Asia and Aust

E-commerce logistics startup Locad has announced that it has raised an $11M Series A funding round to expand their supply chain platform.  

The series A funding round was led by Reefknot Investments, a fund anchored by Temasek and logistics powerhouse Kuehne & Nagel.   

Locad provides a cloud supply chain for brands to store, pack, ship and track orders for ecommerce and omnichannel retail through a tech platform connecting a network of warehouses and shipping partners.  

The Singapore-based firm said the funding will be used towards network expansion, product development and hiring talent across Southeast Asia and Australia. 

“Ultimately, our goal is to enable a frictionless movement of physical goods and data across the supply chain for any brand and merchant, enabling anyone to sell anywhere, on any sales channel, and deliver seamlessly,” said Constantin Robertz, CEO and co-founder of Locad. 

Dubbed the logistics engine, Locad’s platform syncs inventory across sales channels such as Shopify, Lazada, Shopee, and TikTok Shop.  

The logistics engine orchestrates end-to-end order fulfillment for B2C and B2B orders, from storage to delivery, through a network of warehouses and shipping partners.  

“As modern consumer brands are transforming to direct-to-consumer and omnichannel retail, we have seen that the supply chain and fulfillment infrastructure is a key barrier to scaling the business for many brands, and 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,” Robertz said. 

The series A funding round also saw participation from returning investors Sequoia India and Southeast Asia’s Surge, Febe Ventures, Antler, as well as new investors Access Ventures, JG Summit, and WTI.   

“We are excited to partner with Locad to bring holistic end-to-end e-commerce logistics solutions to brands across Asia Pacific,” said Ervin Lim, Vice President of Reefknot Investments.  

“Locad’s unique operating model of localising warehouses into the cities ensures that inventory is kept close to the customers thereby enabling significant cost and time savings for both brand and consumer,” Lim said.  

He also said they believe Locad’s logistics engine will spur greater participation in the digital economy as consumers outside of Tier-1 cities can now receive their orders 2-3x faster at a fraction of the usual cost. 

Locad’s logistics engine also supports brands such as Havaianas, Reckitt Benckiser, and Emma Sleep in the region.  

Locad said it is also expanding its platform to best-in-class logistics infrastructure to growing D2C brands and mid-market merchants.  

“Success in omnichannel commerce for modern consumer brands requires a powerful supply chain orchestrated by software that seamlessly integrates the infrastructure of warehouses and shipping carriers,” Robertz said.  

“And that’s what we’re building here at Locad,” he said. 

With the goal of democratising the back-end supply chain of (e)-commerce, Locad said it will use its $11M Series A funding towards building the region’s largest fulfillment network.  

“Over the next 5 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” Robertz concluded.  

Source: Locad media release