Reefknot Investments, a fund attached by Temasek and logistics firm Kuehne & Nagel led the Sequences A round. Logistics startup Locad has a high $11 million in a Series A funding round as it appears to expand its supply chain podium that allows modern consumer brands in Asia-Pacific to routinely store, pack, ship, and track orders in a distributed, end-to-end stock chain as-a-service.
The round also adage participation from existing investors Sequoia India in addition Southeast Asia’s Surge, Feb Ventures, and Antler, as fine as new investors Access Ventures, JG Summit, besides WTI.
Locad runs a cloud supply chain for brands to store, pack, ship, and path orders for eCommerce and omnichannel retail over a tech platform connecting a network of warehouses and delivery partners.
The startup strategies to use the raised capital towards network expansion, product development, and appointment talent crosswise Asia-Pacific.
“Ultimately, our goal is to empower a frictionless movement of physical goods and data across the stock chain for any brand and merchant, enabling somebody to sell anywhere, on any sales channel, and deliver flawlessly,” says Locad CEO & Co-founder Constantin Robertz.
“As modern shopper brands are transforming to direct-to-consumer and omnichannel retail, we have seen that the stock chain and fulfillment infrastructure is a key barrier to scaling the business for countless brands, and the bar is only rising further, due to higher customer expectations for fast delivery, and the difficulty driven by an increasing number of sales channels,” Constantin complements.
Observing on the investment, Ervin Lim, Vice President of Reefknot Investments, supposed, “Locad’s unique operating model of confining warehouses into the cities ensures that inventory is kept close to the customers thereby enabling significant cost and time savings for both make and consume. We believe that Locad’s logistics engine will spur greater contribution in the digital economy as consumers outside of Tier-1 cities can now receive their orders 2-3x faster at a segment of the usual cost.”