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Locad to enter GCC markets: Singapore-based e-commerce logistics startup Locad secured USD 9 mn in its pre-series B funding round to fuel its expansion into the UAE and Saudi Arabia in 4Q 2024, according to a press release. The round was co-led by Global Ventures, alongside existing investor Reefknot Investments. Other participants in the round include Sumitomo Equity Ventures and other current investors such as Antler Elevate, Febe Ventures, and JG Summit.
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Where’s the money going? Locad plans to connect GCC-based brands to its market place in Asia, offering access to its network of four regional fulfillment centers, a shipping engine tailored to local carriers’ specifications and local sales channels. The company also intends to serve as a gateway for international brands looking to enter GCC markets. The firm will also use the funding to boost its AI-driven smart logistics capabilities.
The service: Locad’s cloud supply chain-as-as-service system enables brands to link all sales channels in e-commerce and retail under a single inventory pool and smart logistics network. The system is managed through a control tower orchestration platform, which offers data analytic feedback, operational transparency, and uses AI to enhance workflow automation.
Setting up shop: Locad has also tapped a new GCC regional director Dario La Torre (LinkedIn). Torre comes to the firm with a plethora of experience in the cross-border e-commerce and logistics sector, including cross border VP at one of South Asia’s leading e-commerce platform Daraz, according to his LinkedIn profile.
About Locad: Founded by Constantin Robertz (LinkedIn), Jannis Dargel (LinkedIn) and Shrey Jain (LinkedIn) in Singapore, Locad is a logistics engine for e-commerce, providing a cloud supply chain platform that automates storage, packing, shipping, and tracking for B2C and B2B channels. It synchronizes inventory across platforms and manages order fulfillment via a network of warehouses and carriers, and also provides demand, inventory and carrier analytics. The startup currently serves some 300 brands across Southeast Asia and Australia. Locad raised some USD 11 mn in a series A funding round last year, led by Reefknot Investments, Reuters reports.
