Locad raises $11 million in Series-A funding

18 Jan 2023 CW Team

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.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..