Logistics and supply chain management integrator Locad secured US$4.9 million in funding from venture capital firms led by Sequoia Capital India
Founded in Manila and Singapore in October last year, Locad offers an international fulfillment network and flexible on-demand warehousing to brands and retailers in the e-commerce landscape
The additional funding will be used to expand its warehouse network in the Philippines and broaden its footprint in Southeast Asia and Australia
Logistics and supply chain management integrator Locad has secured US$4.9 million in new funds from venture capital firms led by Sequoia Capital India.
Locad offers an international fulfillment network and flexible on-demand warehousing to brands and retailers in the e-commerce landscape. As a multi-channel fulfillment partner, it aims to shorten transit times, lower shipping costs, and improve customer delivery experience. Founded in Manila and Singapore in October last year, Locad also maintains offices in India and Australia.
Locad is part of the fifth cohort of Sequoia Capital’s Surge accelerator program, which seeks to fund startups. Other investors in the Locad funding round include Antler, FEBE Ventures, Foxmont Capital Partners, Global Founders Capital, the Gokongwei family, Hustle Fund, and several other angel investors from the technology, ecommerce and logistics ecosystem.
Locad co-founder and chief executive officer Constantin Robertz said the additional funding “will accelerate the development of Locad’s technology and will create better opportunities for businesses that select the logistics cloud as their platform of choice to grow their direct-to-consumer business in eCommerce and omnichannel retail, also ensuring continuity for years to come.”
The fresh funding will also be used to expand Locad’s warehouse network in the Philippines and broaden its regional footprint in Southeast Asia and Australia.
Locad co-founder and chief operating office Jannis Dargel said they need strategically placed warehouses throughout the country, which will include larger warehouses “that have the power to scale up throughout the ‘ber months’, throughout the peaks” and some strategic small hubs “that would then be able to cover really all of the segments of cities with prime delivery standards.”
The company currently has warehouses in Taguig, Parañaque, Laguna, Cebu, and soon to open in Davao.
Locad leverages on technology to integrate a network of distributed warehouses, fulfilment partners and last-mile shipping options that allow brands to manage their B2C supply chain end-to-end. It makes warehouses act as one, and the platform combines distributed warehouses and fulfilment partners, as well as platforms such as Shopify, Magento, Amazon, Shopee and Lazada. Brands can manage all their orders and stock from a single virtual pool across all sales channels, while benefiting from real-time visibility of sales, orders, inventory, and service levels.
To ensure customers receive their products at optimal speed and low shipping cost, Locad enables multi-carrier shipping for the last mile, with plug and play integrations to major last-mile delivery providers, and a multi-carrier shipping management module to automate the assignment of customer orders to the last-mile carrier of choice.