- Locad’s platform moves to next-level and renders store, pack, ship and track orders for e-commerce and retail.
- Also, the funds will be used for further product development and hire more talent across Australia and Southeast Asia.
Logistics startup Locad announced for raising USD 11 million in an early-stage funding round led by Reefknot Investments to expand the network of supply chain capabilities towards Asia-Pacific.
Locad’s platform, which it calls a logistics engine, provides supply chain services for brands and retail outlets to pack, store, ship and track orders for e-commerce and retail using a network connecting shipping partners and warehouses.
With the use of cloud-based engine, Locad can synchronize inventory across sales channel such as Shopee, Shopify, and TiktokShop so that it can provide end-to-end order fulfilment for retail outlets to offer complete service package from storage to delivery. Alongside a geographically distributed routes of warehousing infrastructure, merchant can stock goods closer to customers allowing them to deliver quickly and that too at a lower cost.
Also joining the Series A fund are returning investors are Sequoia India, Southeast Asia’s Surge, Febe Ventures, Antler, as well as investors such as JG Summit, WTI, and Access Ventures. The company said the current funds will help in expanding the network, further product development and hire more talent to help move forward to Australia and Southeast Asia.
Till date the company has touched over 200 brands across Singapore, the Phillippines, Hong Kong, Thailand, and Australia. Also, it has shipped over 2 million orders while maintaining same-day fulfillment rate higher than 99%.
The company’s platform is operated by global consumer brands such as sandals merchant Havaianas, health product company Reckitt Benckiser and mattress retailer Emma Sleep. Add to it, there will be continued expansion of access to its logistics network infrastructure for direct-to-consumer brands and the merchants.
With hundreds of brands having access to Locad logistics engine, and so many customers and business taking path of online systems, it is becoming essential to reduce costs and for packaging and shipping.
“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,” said Locad co-founder and Chief Executive Constantin Robertz. “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.”
“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,” said Robertz. “And that’s what we’re building here at Locad.”
“Over the next five 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,” said Robertz.