Logistics and supply chain management integrator Locad has raised $4.9 mn (about Rs 36.4 cr) in funding, led by Sequoia Capital India’s Surge.
The seed round also saw participation from Antler, Febe Ventures, Foxmont, Global Founders Capital, Gokongwei Family, and Hustle Fund, a statement said.
Angel investors including Alessandro Duri (eCommerce, MEA), Paulo Campos (eCommerce, Zalora), Henry Ko (Logistics, Flexport), Huey Lin (Technology, xAffirm and xFlexport), Thibaud Lecuyer (Logistics, Loggi), Oliver Mickler and Tim Seithe (Fintech, Tillhub), Christian Weiss and Tim Marbach (Technology, Venture Capital) also participated, it added.
Locad is part of Surge’s fifth cohort of 23 firms that have developed new digital solutions to help companies and individuals work, live and learn better in a rapidly evolving Southeast Asian landscape. Founded in Manila and Singapore in October 2020 by Constantin Robertz, Jannis Dargel and Shrey Jain, Locad offers e-commerce brands and retailers end-to-end solutions, ranging from plug-and-play e-commerce fulfilment, to a distributed warehousing network in Asia Pacific for companies that are looking to scale their business internationally.
It has offices in Australia, Hong Kong, India, the Philippines and Singapore. “Bengaluru is our Engineering HQ, the heart of our platform is developed here, and we are set on hiring the best and brightest tech talent to drive our expansion goals across the region,” Shrey Jain, CTO-co-founder, Locad, said.
