+
Locad raises $11 million in Series-A funding
ECONOMY & POLICY

Locad raises $11 million in Series-A funding

A fund anchored by Temasek and logistics giant Kuehne & Nagel, Reefknot Investments, led a Series- A funding round that saw the logistics management business Locad raise $11 million. The funding round also witnessed participation from returning investors Sequoia India and Southeast Asia's Surge, Febe Ventures, and Antler, and new investors Access Ventures, JG Summit, and WTI. In a statement, Locad said that the money raised would be put to use expanding its supply chain platform, which enables consumer brands in Thailand and the rest of Asia-Pacific to autonomously store, pack, ship, and track orders in a distributed and end-to-end supply chain as-a-service.

“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 Bangalore where we have a strong team of developers and marketers helping grow the product and business end-to-end,” said Locad CTO and co-founder Shrey Jain. Through a network of warehouses and shipping partners, the Locad platform orchestrates end-to-end order fulfilment for B2C and B2B orders, from storage through delivery. In total, Locad has shipped more than 2 million transactions while serving over 200 businesses in Singapore, the Philippines, Thailand, Hong Kong, and Australia.

“Locad’s unique operating model of localising warehouses into the cities ensures that inventory is kept close to the customers thereby enabling significant cost and time savings for both brand and consumer. 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,” said Ervin Lim, vice president of Reefknot Investments.


A fund anchored by Temasek and logistics giant Kuehne & Nagel, Reefknot Investments, led a Series- A funding round that saw the logistics management business Locad raise $11 million. The funding round also witnessed participation from returning investors Sequoia India and Southeast Asia's Surge, Febe Ventures, and Antler, and new investors Access Ventures, JG Summit, and WTI. In a statement, Locad said that the money raised would be put to use expanding its supply chain platform, which enables consumer brands in Thailand and the rest of Asia-Pacific to autonomously store, pack, ship, and track orders in a distributed and end-to-end supply chain as-a-service. “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 Bangalore where we have a strong team of developers and marketers helping grow the product and business end-to-end,” said Locad CTO and co-founder Shrey Jain. Through a network of warehouses and shipping partners, the Locad platform orchestrates end-to-end order fulfilment for B2C and B2B orders, from storage through delivery. In total, Locad has shipped more than 2 million transactions while serving over 200 businesses in Singapore, the Philippines, Thailand, Hong Kong, and Australia. “Locad’s unique operating model of localising warehouses into the cities ensures that inventory is kept close to the customers thereby enabling significant cost and time savings for both brand and consumer. 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,” said Ervin Lim, vice president of Reefknot Investments.

Next Story
Real Estate

Mahindra Lifespaces Unveils New Tower at Pune's Citadel Project

Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has launched a new tower at Mahindra Citadel in Pimpri-Chinchwad, Pune. The launch features premium 1 BHK homes targeted at young professionals, nuclear families, and first-time homebuyers. The new tower is part of the integrated ~9.66-acre Mahindra Citadel project, which has a total Gross Development Value (GDV) of approximately Rs 25 billion. This launch follows strong demand for earlier phases of the project and is located adjacent to the Sant Tukaram Metro Station, offering ..

Next Story
Equipment

BICES 2025 Gears Up with Grand Press Meet in Beijing

The BICES 2025 Press Conference and Exhibitor Preparation Meeting took place in Beijing with participation from nearly 150 attendees, including organiser leaders, exhibitors, users, service providers, and media representatives. Key organisers present included Su Zimeng, Chairman of the China Construction Machinery Association (CCMA); Wu Peiguo, Secretary-General of CCMA and President of Beijing Asiamachine International Convention & Exhibition (BAICE);  Li Jianyou, Vice-Chairman of CCMA; Qi Jun, Honorary Chairman of CCMA; Li Jin, General Manager of China Construction Machiner..

Next Story
Infrastructure Urban

Lucknow To Get Modern Integrated Bus Terminal

The Uttar Pradesh cabinet has approved the development of an Integrated City Bus Terminal and Commercial Zone at the P4 Parking site in Vrindavan Yojna, Lucknow. The project promises to deliver a state-of-the-art facility aimed at improving public transport, easing congestion, and enhancing commuter convenience.Spread over 28,56,728 square feet (7.06 acres), the terminal will be developed on a design, build, finance, operate, and transfer (DBFOT) basis through a public-private partnership (PPP) model. The land, acquired from the Awas Vikas Parishad for Rs 1.5 billion, will be leased to a priva..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?