Logistics platform Locad has secured $11 million in Series C funding round, led by Reefknot Investments.
Locad will use the additional capital to expand its supply chain platform that allows modern consumer brands in the Philippines and across Asia-Pacific to automatically store, pack, ship, and track orders in a distributed, end-to-end supply chain as-a-service.
Reefknot is a joint venture between Temasek, Singapore’s sovereign fund, and global logistics company Kuehne + Nagel.
Other participants in the round include returning investors Sequoia India and Southeast Asia’s Surge, Febe Ventures, Antler, Foxmont, and Kaya Founders, as well as new investors Access Ventures and JG Digital Equity Ventures.
“As modern consumer brands in the Philippines and APAC are transforming to direct-to-consumer and omnichannel retail, we have seen that the supply chain and fulfillment infrastructure is a key barrier to scaling the business, and the bar is only rising further due to higher customer expectations for fast delivery, and the complexity driven by an increasing number of sales channels,” Constantin Robertz, chief executive and co-founder of Locad said.
“Ultimately, our goal is to enable a frictionless movement of physical goods and data across the supply chain for SME and enterprise brands, enabling anyone to sell anywhere, on any sales channel, and deliver seamlessly,” Robertz added,
Launched in the Philippines in 2020, Locad’s platform syncs inventory across sales channels such as Shopify, Lazada, Shopee, Woocommerce, and TikTok Shop.