Logistics engine Locad raises $11 Mn in funding led by Singapore based Reefknot Investments, CIOSEA News, ETCIO SEA

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logistics engine locado It recently raised an $11 million Series A funding round, supply chain A platform that enables modern consumer brands in Asia Pacific to automatically store, pack, ship and track their decentralized end-to-end supply chain as a service. The round was led by Reefknot Investments, a fund backed by Temasek and logistics giant Kuehne & Nagel.

Called the Logistics Engine, Locad’s platform syncs inventory across sales channels such as Shopify, Lazada, Shopee, TikTok Shop, and end-to-end ordering for B2C and B2B orders, from storage to delivery, through a network of warehouses. Coordinate fulfillment. and shipping partners. To date, Locad has served over 200 of his brands. Singaporethe Philippines, Thailand, Hong Kong and Australia, and has shipped over 2 million orders and maintains a 99% same-day order fulfillment rate.

Locad CEO and co-founder Constantine said: “As modern consumer brands move to direct-to-consumer and omnichannel retail, supply chain and fulfillment infrastructure are proving to be a key barrier to many brands expanding their business,” said Roberts. We are meeting increasing customer expectations for fast delivery and the complexity caused by increasing sales channels.”

The Series A funding round also saw participation from returning investors Sequoia India and Southeast Asia’s Surge, Febe Ventures and Antler, as well as new investors Access Ventures, JG Summit and WTI.

“We are delighted to partner with Locad to provide a comprehensive end-to-end e-commerce logistics solution for brands in the Asia Pacific region,” said Ervin Lim, Vice President of Reefknot Investments. . We believe Locad’s logistics engine will facilitate participation in the digital economy, as consumers outside Tier-1 cities can receive orders two to three times faster at a fraction of the usual cost. increase. “

Locad’s logistics engine provides the backbone to support the e-commerce and omnichannel growth of global consumer brands such as Havaianas, Reckitt Benckiser and Emma Sleep in the region, while providing access to best-in-class logistics infrastructure. Mid-market merchant expanding into a growing D2C brand.

“To be successful in omnichannel commerce for modern consumer brands, you need a strong supply chain orchestrated by software that seamlessly integrates your warehouse and carrier infrastructure. It’s what we’re building,” added Constantin Robertz.

(e)-Committed to democratizing the back-end supply chain for commerce, Locad will use $11 million in Series A funding to build the largest fulfillment network in the region. The company is expanding into Southeast Asia and Australia, adding warehouses, partnering with carriers and hiring talent across the region.

“Over the next five years, we will build the largest warehouse network in the region, enabling next-day delivery in Tier 1-3 cities across the region, making this available to brands and merchants on one unified platform,” said Constantine Roberts. I hope that you will do so.

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