Locad, a Singapore-based logistic engine that helps e-commerce brands to systematically store, pack, ship, and track orders across Asia-Pacific, has secured $11M in a Series A funding round.
Reefknot Investments, a 50:50 joint venture between Temasek and global logistics company Kuehne & Nagel led the round with participation from returning investors Sequoia India and Southeast Asia’s Surge, Febe Ventures, Antler (which also backed Tapline), as well as new Access Ventures, JG Summit, and WTI.
Locad will use the funds towards building the region’s largest fulfillment network. The company is adding warehouses, partnering with transport operators, and hiring talent across the region to scale in 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.” says Locad CEO and Co-founder Constantin Robertz, “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.”
Bridging first-mile and last-mile delivery services
Founded by Shrey Jain, Jannis Dargel and Constantin Robertz, Locad‘s platform syncs inventory across sales channels such as Shopify, Lazada, Shopee, and TikTok Shop. It organises end-to-end order fulfillment for B2C and B2B orders, from storage to delivery, through a network of warehouses and shipping partners.
As a result, brands and merchants get a geographically distributed warehousing infrastructure, allowing them to stock goods closer to customers, enabling faster delivery at a lower cost.
As per the company’s claims, it has served over 200 brands across Singapore, the Philippines, Thailand, Hong Kong, and Australia and shipped more than 2M orders while maintaining a 99% same-day order fulfillment rate.
“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,” concluded Constantin Robertz.
“We are excited to partner with Locad to bring holistic end-to-end e-commerce logistics solutions to brands across the Asia Pacific.” shares Ervin Lim, Vice President of Reefknot Investments, “Locad’s unique operating model of localizing 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. We believe that 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.”