The $9 million pre-Series B fundraising campaign has been announced by Locad, the top intelligent digital logistics engine that powers consumer brands with its Cloud Supply Chain-as-a-Service for worldwide distribution.
Reefknot Investments, an existing investor, and Global Ventures co-led the round. Sumitomo Equity Ventures and current investors Antler Elevate, Febe Ventures, and JG Summit are among the other participating investors.
As part of its “Grow Global, Go Local” strategy for brands, the new funding will expedite Locad’s international expansion, beginning with the UAE and Saudi Arabia in Q4 2024. Additionally, the funds will be utilized to improve Locad’s AI-driven smart logistics capabilities. With a global cloud supply chain as-a-service, Locad is working to establish the supply chain infrastructure of contemporary commerce, linking companies with customers in developing markets.
With an integrated operating system and supply chain infrastructure as a service, Locad’s cloud supply chain facilitates open commerce and intelligent digital logistics for consumer brands. Through its Control Tower orchestration platform, which offers real-time visibility, analytics, and AI-enhanced workflow automation, Locad enables brands to link all e-commerce and retail sales channels to a single pool of inventory and an intelligent logistics network.
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 localised fulfilment 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 localised 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 decentralised and resilient supply chains to meet today’s consumer demands.
“Locad is a prime example of this shift—offering a localised, efficient solution that aligns with our vision for the future of supply chains. We are confident Locad is well-positioned to capitalise 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 fulfilment 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 & optimisation.
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.”
Locad has advanced significantly in growing its market share and improving its platform since its 2023 Series A round. The company now offers intelligent digital logistics solutions to improve customer experience and operational efficiency for more than 300 consumer brands in Australia and Southeast Asia. Locad’s logistics engine allows brands to optimize their inventory and delivery management across a variety of sales channels by integrating seamlessly with top e-commerce platforms like Shopify, Shopee, Amazon, and Tiktok. Brands that use Locad’s platform to increase their distribution now have access to new markets thanks to the company’s global expansion into the USA and GCC.
