Logistics Startup Locad Raises $4.9 million Funding from Sequoia Surge
Logistics and supply chain management integrator Locad has raised $4.9 million (Rs 36.5 crore) as part of a seed-funding round led by Sequoia Capital India’s Surge programme. “With this funding, Locad is set to strengthen the logistics infrastructures in the Philippines and in Southeast Asia and provide businesses with top-of-class service in e-commerce fulfilment,” Locad […]
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Logistics and supply chain management integrator Locad has raised $4.9 million (Rs 36.5 crore) as part of a seed-funding round led by Sequoia Capital India’s Surge programme.
“With this funding, Locad is set to strengthen the logistics infrastructures in the Philippines and in Southeast Asia and provide businesses with top-of-class service in e-commerce fulfilment,” Locad Chief Executive Officer and Co-Founder Constantin Robertz, said at a virtual press briefing.
Other funds that participated in the round include Antler, Febe Ventures, Foxmont, Global Founders Capital, Gokongwei Family and Hustle Fund.
Locad will use the investment to expand its platform and fulfilment network.
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“Many vendors, producers, and sellers are migrating to digital services but are still hampered in delivering their products to their customers,” Mr Robertz said. “They also lack infrastructure, resources, and experience in managing both online services and their own supply chain.”
“Business customers of Locad also have the opportunity to integrate with eCommerce platforms such as Shopify, WooCommerce, Amazon, Shopee, Lazada and Zalora. Brands can manage all their orders and stock from a single virtual pool across multiple sales channels, with real-time visibility of sales, orders, inventory, and service levels,” the company said in a release.
Founders Constantin Robertz, Jannis Dargel and Shrey Jain came together to start Locad after working for years in Southeast Asia’s eCommerce, transportation and logistics ecosystem.
(With Input from Agencies)