$9M Boost for Locad to Drive Logistics Innovation and Global Growth

Logistics startup Locad has closed a pre-Series B funding round, raising $9 million to further advance its innovative supply chain platform and global presence. Headquartered in Singapore, the company now intends to utilize the funds to expand into the United Arab Emirates and Saudi Arabia in late 2024 and develop artificial intelligence-powered logistics capabilities.

Sumitomo Equity Ventures, Antler Elevate, Febe Ventures, and JG Summit joined the funding round, co-led by Global Ventures and Reefknot Investments—a partnership between Temasek and Kuehne+Nagel. The new investment marks a major milestone in Locad’s vision to transform supply chain management.

Revolutionizing Supply Chain Solutions

The Locad platform is a full-featured “supply chain as a service”. They support the efficient storage, packing, shipping, and tracking of orders within a frictionless experience. Locad easily integrates with major e-commerce channels such as Shopify, Shopee, Amazon, and TikTok Shop. That helps them to enable brands to manage their inventory and fulfillment operations efficiently.

Locad now operates across Southeast Asia and Australia. Moreover, they empower over 300 brands with tools to meet their logistics needs and scale operations effectively.

Driving Innovation and Expansion

This fresh funding will drive Locad’s expansion into the Middle East, unlocking high-value markets like the UAE and Saudi Arabia. Further, the company is also investing in AI-driven solutions that ensure seamless logistics so as to make the platform more intelligent and adapt to the ever-evolving market needs.

Locad’s growth strategy is a commitment to continuously providing businesses with efficient means of scaling globally through its operation tools. The company is entering new regions, creating more opportunities for brands to expand their reach and smoothen operations.

Pioneering the Future of Logistics

Success from Locad funding underlines the increasing demand for flexible, technology-driven logistics solutions in today’s interconnected world. With its stronghold in place both in Southeast Asia and Australia, the company is well set to extend its reach globally.

We’re proud to see companies like Locad redefine industries and create value for both investors and businesses. IGF connects and develops a circle of brilliant ideas, helping these startups bring their solutions into the world.