Locad Raises $4.9M In The Seed Investment Round Led By Sequoia Capital India’s Surge
- ByStartupStory | July 5, 2021
Locad, Logistics and supply chain management integrator on Monday proclaimed $4.9 million in funding, in a seed round led by Sequoia Capital India’s Surge, with participation from Foxmont, Global Founders Capital,Antler, Febe Ventures, Gokongwei Family, and Hustle Fund. Locad provides ecommerce brands and retailers convenient, scalable end-to-end solutions, ranging from plug-and-play ecommerce fulfilment, to a distributed warehousing network in APAC for companies that are seeking to grow their business internationally. It claims to fill an important gap in the current ecommerce state-of-play- the broken, complex, and slow supply chain ecosystem in Southeast Asia.
Locad established in Manila and Singapore in October 2020. They have their offices in India, Australia, Hong Kong, the Philippines and Singapore. Locad is pioneered in offering fully integrated solutions whereas many companies address first mile and last mile problems in delivery. Business customers of Locad also have the opportunity to integrate with ecommerce platforms such as Amazon, Shopee, Shopify, WooCommerce, Lazada and Zalora. Brands can manage all their orders and stock from a single virtual pool across multiple sales channels, with real-time visibility of sales, orders, inventory, and service levels.
The funding was Led by Sequoia Capital India’s Surge, is joined by Antler, Febe Ventures, the Gokongwei Family, Hustle Fund, Foxmont, Global Founders Capital, and angel investors from the technology, ecommerce and logistics ecosystem, including Alessandro Duri (ecommerce, MEA), Paulo Campos (ecommerce, Zalora), Huey Lin (Technology, xAffirm and xFlexport), Thibaud Lecuyer (Logistics, Loggi), Henry Ko (Logistics, Flexport), Oliver Mickler and Tim Seithe (Fintech, Tillhub), Christian Weiss and Tim Marbach (Technology, Venture Capital). Locad is part of Surge’s fifth cohort of 23 companies that have developed new digital solutions to help companies and individuals work, live and learn better in a rapidly evolving Southeast Asian landscape.
“In an industry where reliability and speed could make or break an ecommerce brand, our ability to provide a one-stop platform, from fulfilment capability to distributed warehousing, allows brands to meet the evolving needs of their customers with flexible, nimble and pain-free logistics solutions,” said Constantin Robertz, CEO and Co-founder of Locad.
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