Locad raises US$11 million to boost brands in Asia Pacific

Logistics engine Locad has today announced that it has raised an $11 million Series A funding round to expand its supply chain platform which allows modern consumer brands in Asia-Pacific to automatically store, pack, ship and track their orders in a distributed, end-to-end supply chain as-a-service.

The round was led by Reefknot Investments, a fund anchored by Temasek and logistics provider Kuehne & Nagel.

Locad’s platform, which the company calls a ‘logistics engine’, syncs inventory across sales channels such as Shopify, Lazada, Shopee, and more, and orchestrates end-to-end order fulfilment for B2C and B2B orders, from storage to delivery, through a network of warehouses and shipping partners.

So far, the company has partnered with more than 200 brands across Singapore, the Philippines, Thailand, Hong Kong, and Australia, and has shipped more than 2 million orders, and claims to have achieved a 99% same-day order fulfilment rate.

Constantin Robertz, CEO and Co-founder of Locad said: “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.

“As modern consumer brands are transforming to direct-to-consumer and omnichannel retail, we have seen that the supply chain and fulfilment 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.”

Source: logisticsmanager.com