Locad secures USD $9m to expand AI-driven logistics

Locad, a logistics company based in Singapore, has announced a USD $9 million pre-series B funding round to support its global expansion and development of AI-driven logistics solutions.

The funding was co-led by Global Ventures and Reefknot Investments, with participation from Sumitomo Equity Ventures, Antler Elevate, Febe Ventures, and JG Summit. The company plans to use the funds to enter the UAE and Saudi Arabia markets in the fourth quarter of 2024 as part of its "Grow Global, Go Local" strategy, and to enhance its AI capabilities for logistics operations.

Locad's platform offers a cloud-based supply chain service for consumer brands, integrating supply chain infrastructure with an operating system that connects all sales channels to a unified inventory. The system provides real-time visibility, analytics, and AI-driven workflow automation through its Control Tower orchestration platform.

Constantin Robertz, CEO and Co-Founder of Locad, stated: "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. We are now excited to take Locad global, opening our presence in the US and entering the GCC, to make it easier for brands to sell anywhere with a fully localized customer experience."

Noor Sweid, Founder and Managing Partner of Global Ventures, commented: "We are delighted to lead Locad's funding round. Locad's innovative engine is transforming how brands manage their supply chains and enabling faster, more efficient customer reach - aligning with our thesis on the need for decentralized and resilient supply chains to meet today's consumer demands. 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."

Marc Dragon, Managing Director of Reefknot Investments, remarked: "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. We are confident that Locad's global expansion, combined with their dedication to product, technology, and service quality and innovation, will create exceptional value for brands aiming to grow overseas and elevate their respective customer experience."

Co-Founder and CTO of Locad, Shrey Jain, highlighted the role of AI in their logistics solutions, saying: "By integrating smart digital logistics with AI-driven insights, we empower brands to optimize their supply chains—placing inventory closer to demand, reducing delivery times, and enhancing customer satisfaction. This fundraise allows us to double down on building a robust, tech-enabled logistics ecosystem that drives efficiency and helps brands thrive in an increasingly dynamic commerce landscape."

Jannis Dargel, Co-Founder and COO, added: "For brands, unifying inventory across sales channels in ecommerce and retail leads to higher revenue and faster sell-through; and localized fulfillment and delivery allows brands to increase conversion rates and improve customer experience."

Since their Series A round in 2023, Locad has expanded its operations and improved its platform, now serving over 300 brands across Southeast Asia and Australia. Locad's logistics platform supports ecommerce integration with Shopify, Shopee, Amazon, and TikTok, allowing for optimized inventory and delivery management. The planned expansion into the GCC and USA aims to provide brands with additional market opportunities, leveraging Locad's tech-driven logistics solutions for efficient distribution and customer service improvement.