Talking about the same, Ervin Lim, vice president, Reefknot Investments, commented, “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 their orders 2-3x faster at a fraction of the usual cost.
To realise this, we are doubling down on our hiring efforts in key locations such as Bengaluru, where we have a strong team of developers and marketers helping grow the product and business end-to-end.” For the next year, we are seeing growth across all of these markets, with specific emphasis on Singapore, which is often the gateway for new brands entering the region.”Īdding to the same, Shrey Jain, cofounder and Chief Technology Officer, Locad, said, “Tech and data are at the heart of what we are building here at Locad. When asked about the same, Constantin Robertz, co founder and CEO, Locad, said, “Currently, the Southeast Asian markets would account for about 80 per cent of our transactions, with Australia being about 20 per cent. The amount adds to the 4. It is the year’s first major funding announcement for a local startup. Locad raises 4.9M led by Sequoia Capital Indias Surge locad.
Locad sequoia series#
It saw participation from several investors, like Sequoia Capital India, Febe Ventures, Antler, Access Ventures, JG Summit, and Western Technology Investment. Logistics and supply chain management startup Locad has announced that it has raised 11 million (about P600 million) in a series A round, the company said in a statement on Monday (January 16). Construction management app Powerplay raises 5.2M from Sequoias Surge and Accel. Locad wants to differentiate by providing a flexible solution that can work with any sales channel and is integrated with a wide range of shipping providers.In a Reefknot-led Series-A funding round, Singapore-headquartered logistics and supply chain management integrator Locad recently raised $11 million. Locad is among a growing roster of other Southeast Asia-based logistics startups that have recently raised funding, including Kargo, SiCepat, Advotics and Logisly. Its clients range from startups to international brands, and include Mango, Vans, Payless Shoes, Toshiba and Landmark, a department store chain in the Philippines. Since its founding in October 2020, Locad has been used by more than 30 brands and processed almost 600,000 items. Locad’s logistics engine works with brands such as Levi’s, Reckitt Benckiser, and Emma Sleep in the region. Locad is the new name in the logistic market that has recently raised a.
The startup’s goal is to close the gap between first-mile and last-mile delivery services, enabling e-commerce companies to offer lower shipping rates and faster deliveries while freeing up more time for other parts of their operations, such as marketing and sales conversions. Logistic Startup Locad gets seed funding of 4.9M led by Sequoia Capital Indias. It now also has offices in Australia, Hong Kong and India. Locad was founded in Singapore and Manila by Constantin Robertz, former Zalora director of operations Jannis Dargel and Shrey Jain, previously Grab’s lead product manager of maps.
Markus Erken, Max Moldenhauer, Oliver Mickler, Paulo Campos, Stefan Mader, Thibaud Lecuyer, Tim Marbach and Tim Seithe. It also included angel investors Alessandro Duri, Alexander Friedhoff, Christian Weiss, Henry Ko, Huey Lin, Markus Bruderer, Dr. The funding was led by Sequoia Capital India’s Surge (Locad is currently a part of the program’s fifth cohort), with participation from firms like Antler, Febe Ventures, Foxmont, GFC and Hustle Fund. supported by Sequoia Capital, Western Technology Investment, Antler and others. Locad, a startup that wants to help with what it describes as an “end-to-end solution” for cross-border e-commerce companies, announced today it has raised a $4.9 million seed round. We at Locad are thrilled to welcome 2023 with 11M Series A funding.
This means sellers run into roadblocks when shipping to buyers, especially outside of major metropolitan areas, and managing their supply chains. E-commerce is booming in Southeast Asia, but in many markets, the fragmented logistics industry is struggling to catch up.
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