Ecommerce logistics startup LOCAD raises $9 million in a pre-Series B round

LOCAD, a smart digital logistics engine empowering consumer brands with its Cloud Supply Chain-As-a-Service for global distribution, today said it has raised $9 million in a pre-Series B funding round.

The round was co-led by Global Ventures and existing investor Reefknot Investments.

The round also saw participation from investors, including Sumitomo Equity Ventures and existing investors Antler Elevate; Febe Ventures; and JG Summit.

What does LOCAD do?

LOCAD's cloud supply chain enables smart digital logistics and open commerce for consumer brands through an integrated operating system and supply chain infrastructure as a service.

The startup allows brands to connect all sales channels in Ecommerce and Retail to a single pool of inventory and a smart logistics network, managed through its Control Tower orchestration platform that provides real time visibility, analytics, and ai enhanced workflow automation.

Purpose of fundraising

LOCAD plans to use the raised capital to accelerate its international expansion, starting with UAE and Saudi Arabia in Q4 2024 as part of its ‘Grow Global, Go Local’ strategy for brands. The startup will also focus on enhancing its AI-driven smart logistics capabilities.

It aims to build the supply chain infrastructure of modern commerce connecting brands to consumers in growth markets with a global cloud supply chain as-a-service.

"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 localized fulfillment in growth markets of SEA and AU," said Constantin Robertz, CEO and Co-Founder of LOCAD.

Investors comment

"Locad is a prime example of this shift – offering a localized, efficient solution that aligns with our vision for the future of supply chains.  We are confident Locad is well-positioned to capitalize on opportunities in rapidly evolving markets like MENA, embodying the future of agile and sustainable logistics," said Noor Sweid, Founder and Managing Partner of Global Ventures.

"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 fulfillment 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 & optimization," said Marc Dragon, Managing Director of Reefknot Investments.