Logistics start-up Locad has raised $11 million in Series A funding round, led by Reefknot Investments, a fund anchored by Temasek and Kuehne & Nagel.
Locad aims to expand its supply chain platform that allows consumer brands in Thailand and across Asia-Pacific to automatically store, pack, ship and track orders in a distributed, end-to-end supply chain as-a-service.
“Omnichannel commerce demands a powerful logistics infrastructure in order to succeed. And that infrastructure is not only made of an interconnected network of warehouses and shipping carriers but also the precise data that reflects the movement of goods in that supply chain.” said Locad CTO and Co-founder Shrey Jain.
Locad said it will use its $11 million Series A funding towards building fulfillment network. The company is adding warehouses, partnering with transport operators, and hiring talent for their Bangaluru office
“Tech and data are at the heart of what we’re building here at Locad. To realise this, we’re doubling down on our hiring efforts in key locations such as Bangaluru where we have a strong team of developers and marketers helping grow the product and business end-to-end,” Jain said.
Locad’s platform dubbed the logistics engine syncs inventory across sales channels and orchestrates end-to-end order fulfillment for B2C and B2B orders, from storage to delivery, through a network of warehouses and shipping partners. To date, Locad said it has served over 200 brands across Singapore, the Philippines, Thailand, Hong Kong, and Australia.