Locad, a logistics and supply chain management integrator based in the Philippines, announced raising $4.9 million in its seed funding round led by Sequoia Capital India’s Surge.
The funding round was also participated by Antler, Febe Ventures, Foxmont Capital, Global Founders Capital, the Gokongwei Family, and Hustle Fund.
Founded in Manila and Singapore in October 2020, Locad is making a name for itself in the logistics industry and now has offices in Australia, Hong Kong, India, the Philippines, and Singapore.
The startup provides e-commerce brands and retailers simple yet scalable end-to-end solutions, ranging from plug-and-play ecommerce fulfillment to a distributed warehousing network in the Asia Pacific region for companies that are looking to scale their business globally.
Business customers of Locad also have the opportunity to integrate with eCommerce platforms such as Shopify, WooCommerce, Amazon, Shopee, Lazada and Zalora and manage all their orders and stock from a single virtual pool across multiple sales channels.
“At the heart of our mission is the desire to level the playing field in direct-to-consumer commerce by giving brands small and large access to an integrated, distributed, and flexible supply chain network that is simple yet scalable,” said Constantin Robertz, CEO and co-founder of Locad.
“Our ability to provide a one-stop platform, from fulfillment capability to distributed warehousing, allows brands to meet the evolving needs of their customers with flexible, nimble and pain-free logistics solutions,” he added.
Founders Robertz, Jannis Dargel, and Shrey Jain came together to start Locad after years in Southeast Asia’s eCommerce, transportation, and logistics ecosystem, previously working in leadership roles at Grab and Zalora.
Locad’s funding comes as the logistics market in Southeast Asia is forecast to hit $55.7 billion by 2025, highlighting the growing demand and necessity for flexible, technology-enabled solutions.
Darger said Locad is now serving more than 30 brands across the Philippines, Singapore, and Australia, helping small businesses to some of the largest retailers deliver tens of thousands of items each month.
“We’re excited to be providing logistics infrastructures to ecommerce businesses of any size in these countries and we will continue to grow our presence across the region,” Dargel stressed.