Singapore logistics engine Locad announced that has raised an $11 million Series A funding round to expand its supply chain platform that 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 powerhouse Kuehne & Nagel.
The series A funding round also saw participation from returning investors Sequoia India and Southeast Asia’s Surge, Febe Ventures, Antler, as well as new investors Access Ventures, JG Summit, and WTI.
Locad will use its $11M Series A funding towards building the region’s largest fulfillment network. The company is adding warehouses, partnering with transport operators, and hiring talent across the region to scale in Southeast Asia and Australia.
Locad’s platform, dubbed the logistics engine, syncs inventory across sales channels such as Shopify, Lazada, Shopee, and TikTok Shop, and orchestrates end-to-end order fulfillment for B2C and B2B orders, from storage to delivery, through a network of warehouses and shipping partners.
“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,” said Locad CEO and Co-founder Constantin Robertz.
To date, the startup has served over 200 brands across Singapore, the Philippines, Thailand, Hong Kong, and Australia, and shipped more than 2 million orders while maintaining a 99% same-day order fulfillment rate.
Locad’s logistics engine provides the backbone to support the e-commerce and omnichannel growth of global consumer brands such as Havaianas, Reckitt Benckiser, and Emma Sleep in the region, while also expanding access to best-in-class logistics infrastructure to growing D2C brands and mid-market merchants.
“Over the next 5 years, we expect to build the region’s largest network of warehouses, enabling next-day delivery in Tier 1 to 3 cities across the region, and make this available to brands and merchants in one integrated platform” concluded Constantin Robertz.