The funding round was led by Led by Sequoia Capital India's Surge. Another study from Reportlinker found that 33% of Australian consumers choose to shop online because there is better product availability. The company points to figures from Mordor Intelligence, which valued Australia's logistics market as being worth US$75 billion in 2020. We also see a large potential in enabling Australian brands to expand their presence in Asia Pacific. “The country's geographic expanse and the locations of towns far apart from one another creates enormous potential for a distributed warehousing network to shorten delivery times in key cities.
Robertz says the Australian market is of particular interest to the company's growth. “In an industry where reliability and speed could make or break an eCommerce brand, our ability to provide a one-stop platform, from fulfilment capability to distributed warehousing, allows brands to meet the evolving needs of their customers with flexible, nimble and pain-free logistics solutions. Locad CEO and cofounder Constantin Robertz says the company wants to level the playing field for direct-to-consumer commerce by enabling brands to leverage an integrated, distributed, and flexible supply chain network. Locad integrates with commerce platforms such as Amazon, Magento, Shopify, and WooCommerce, enabling brands to manage orders and stock from a single virtual pool across multiple sales channels, with real-time visibility of sales, orders, inventory, and service levels. Locad's method of dealing with these issues is to provide end-to-end solutions that span fulfilment and distributed warehousing networks. Locad aims to provide a fully integrated solution that addresses some of the common pain points within eCommerce, particularly the slow and often complex supply chain systems. Furthermore, the company also opened a fulfilment service in Sydney earlier this year. The company has offices in Singapore, the Philippines, India, Hong Kong, and Australia. Locad, which was founded in Singapore in October last year, has already established a notable presence in the logistic industry. It also has ambitions to boost its recruiting in Australia and Southeast Asia.Locad, a specialist eCommerce logistics and supply chain management integrator, has raised US$4.9 million in a funding round led by Sequoia Capital India's Surge. The company will invest the money in network growth and new product development. “As modern consumer brands are transforming to direct-to-consumer and omnichannel retail, we have seen that the supply chain and fulfillment infrastructure is a key barrier to scaling the business for many brands,” said Robertz. According to the business, it continues to complete 99% of orders on the same day. More than 2 million orders have been sent by Locad for more than 200 brands in Singapore, Thailand, Hong Kong, Australia, and the Philippines. These services, which cover the entire process from storage to delivery, are provided through a network of warehouses and transportation partners. For both B2C and B2B transactions, Locad also offers order fulfillment.
The platform of the firm synchronizes inventory amongst several sales platforms, including Shopify, Lazada, Shopee, and TikTok Shop. It was founded in 2020 by former Zalora executives Constantin Robertz and Jannis Dargel, as well as former Lead Product Manager of Maps for Grab Shrey Jain. Locad was the first Philippine firm to join a batch of Sequoia’s Surge. A capital round headed by Reefknot Investments, a vehicle anchored by Kuehne & Nagel and Temasek, the state-owned investment company of Singapore.Īlong with Access Ventures, JG Summit, and WTI, existing investors Sequoia India and Southeast Asia’s Surge, Febe Ventures, and Antler also participated in Locad’s round.
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The Philippines-based cloud logistics and end-to-end fulfillment company Locad has secured US $11 million through a series of financing rounds.
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