Locad rakes in US$11M to build supply chain network across APAC

Locad, an e-commerce fulfilment startup in the Philippines, has secured US$11M in a Series A investment round led by Singapore-based global VC firm Reefknot Investments.

Access Ventures, JG Summit, and returning investors Sequoia Surge, Febe Ventures, Antler, Hustle Fund, and Foxmont also participated.

The capital will be used to build an extensive and interconnected supply chain network across Asia Pacific through its technology platform. This move will provide e-commerce brands with logistics capabilities to tackle the US$170 billion e-commerce markets across Southeast Asia and Australia.

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Locad coordinates the physical movement of goods for an online world. It is the logistics engine for e-commerce brands, automating inventory distribution, warehouse storage, and shipping across Asia Pacific.

The tech platform synchronises inventory across online channels. It organises end-to-end fulfilment through its network of warehouses and shipping carriers across Singapore, the Philippines, Thailand, Hong Kong, and Australia.

The startup has served over 200 brands across Singapore, the Philippines, Australia, Thailand, and Hong Kong. It claims to have shipped more than two million orders while maintaining a 99 per cent same-day order fulfilment rate.

Ervin Lim, VP of Reefknot, said: “Locad’s unique operating model of intelligently allocating inventory across distributed warehouses ensures that inventory is kept close to the customers, thereby enabling high cost and time savings for both brand and consumer. We believe that Locad’s logistics engine will spur greater participation in the digital economy as consumers outside of Tier-1 cities can now receive orders 2-3X faster at a fraction of the usual cost.”

Also Read: Startups should adopt the glocalisation mode of design and thinking: Reefknot’s Marc Dragon

Reefknot partners with high-growth technology companies pushing new frontiers within the supply chain and logistics space. Its first US$50 million fund has invested in Roambee, Pickupp, Secondmind, and Previse.

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