Funding co-led by Global Ventures and existing investor Reefknot Investments; proceeds to accelerate global expansion and AI development
[Singapore / UAE] – 20th November 2024: Locad (“the Company”) – a smart digital logistics engine empowering consumer brands with its Cloud Supply Chain-As-a-Service for global distribution – announces its $9 million Pre-Series B fundraise.
The round was co-led by Global Ventures and existing investor Reefknot Investments. Other participating investors include Sumitomo Corporation Equity Asia and existing investors Antler Elevate, Febe Ventures, and JG Summit.
The new funding will accelerate Locad’s international expansion, starting with UAE and Saudi Arabia in Q4 2024 as part of its ‘Grow Global, Go Local’ strategy for brands; and will also be used to enhance Locad’s AI-driven smart logistics capabilities. Locad is on a mission to build the supply chain infrastructure of modern commerce connecting brands to consumers in growth markets with a global cloud supply chain as-a-service
Locad’s cloud supply chain enables smart digital logistics and open commerce for consumer brands through an integrated operating system and supply chain infrastructure as a service: Locad allows brands to connect all sales channels in Ecommerce and Retail to a single pool of inventory and a smart logistics network, managed through its Control Tower orchestration platform that provides real time visibility, analytics, and ai enhanced workflow automation.
Constantin Robertz, CEO and Co-Founder of Locad, said:
“We are on a mission to enable smart digital logistics for consumer brands.”
“Over the last four years we have built a cloud supply chain platform in APAC that allows brands to unify their omnichannel distribution and access localized fulfillment in growth markets of SEA and AU. We are now excited to take Locad global, opening our presence in the US and entering the GCC, to make it easier for brands to sell anywhere with a fully localized customer experience.
Noor Sweid, Founder and Managing Partner of Global Ventures, commented:
“We are delighted to lead Locad’s funding round. Locad’s innovative engine is transforming how brands manage their supply chains and enabling faster, more efficient customer reach – aligning with our thesis on the need for decentralized and resilient supply chains to meet today’s consumer demands.
“Locad is a prime example of this shift – offering a localized, efficient solution that aligns with our vision for the future of supply chains. We are confident Locad is well-positioned to capitalize on opportunities in rapidly evolving markets like MENA, embodying the future of agile and sustainable logistics.”
Marc Dragon, Managing Director of Reefknot Investments, commented:
“At Reefknot, we are excited to co-lead this oversubscribed funding round and deepen our commitment to Locad as they expand their global reach and impact. Since our Series A investment, Locad has demonstrated a strong ability to execute, scaling their asset-light fulfillment model across markets in Southeast Asia, Australia, and China, while continuously deepening their product capabilities with AI-driven features such as demand, inventory and carrier analytics & optimization.
We are confident that Locad’s global expansion, combined with their dedication to product, technology, and service quality and innovation, will create exceptional value for brands aiming to grow overseas and elevate their respective customer experience.”
Shrey Jain, Co-Founder and CTO of Locad, commented:
“By integrating smart digital logistics with AI-driven insights, we empower brands to optimize their supply chains—placing inventory closer to demand, reducing delivery times, and enhancing customer satisfaction. This fundraise allows us to double down on building a robust, tech-enabled logistics ecosystem that drives efficiency and helps brands thrive in an increasingly dynamic commerce landscape.”
Jannis Dargel, Co-Founder and COO of Locad, commented:
“For brands, unifying inventory across sales channels in ecommerce and retail leads to higher revenue and faster sell-through; and localized fulfillment and delivery allows brands to increase conversion rates and improve customer experience.”
Since its 2023 Series A round, Locad has made significant strides in expanding its market presence and refining its platform. The company now supports over 300 consumer brands across Southeast Asia and Australia, providing smart digital logistics solutions to enhance operational efficiency and customer experience. Locad’s logistics engine integrates seamlessly with leading e-commerce platforms such as Shopify, Shopee, Amazon, and Tiktok, enabling brands to optimize their inventory and delivery management across diverse sales channels. The global expansion to the GCC and USA opens additional markets for brands that leverage Locad’s platform to expand their distribution. The company’s unique approach to logistics—localizing warehouses to reduce delivery times and costs, combined with an AI-powered platform that optimizes inventory allocation and carrier selection—has positioned it as a preferred logistics partner for consumer brands looking to scale in rapidly growing markets. The benefits for consumer brands are multiple: Enhanced logistics allows brands to manage omnichannel commerce via an integrated software and physical logistics network. Their growth is then supported across multiple channels, with new market entries enabled, and higher customer satisfaction via faster, more reliable delivery options.
