Locad, an innovative e-commerce logistics startup, has successfully raised $9 million in fresh funding.
While the startup did not disclose its exact valuation after this funding made, sources familiar estimate it to be around $60 million.
The latest funding round was led by Reefknot Investments, with participation from existing investors Global Ventures, Sumitomo Equity Ventures, Antler Elevate, Febe Ventures, and JG Summit.
With this funding, Locad plans to expand its operations into the Middle East by the end of this year, targeting Saudi Arabia and the United Arab Emirates (UAE).
The company’s move to these regions aligns with the growing demand for efficient and reliable logistics solutions driven by the surge in online shopping.
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About Locad:
Locad offers a suite of logistics services designed to streamline e-commerce operations, including order fulfillment, warehousing, and inventory management.
The company uses a cloud-based platform that integrates with major e-commerce platforms such as Shopify, Shopee, Amazon, and TikTok Shop.
By leveraging AI-powered tools, Locad aims to make e-commerce operations more cost-effective and efficient, helping businesses meet the growing expectations of consumers for fast and reliable deliveries.
The company was founded by Constantin Robertz (CEO), Jannis Dargel (COO), and Shrey Jain (CTO), who have collectively brought their expertise in technology and operations to build Locad.
Since its inception, Locad has seen significant growth, now serving over 300 customers across Southeast Asia and Australia.
With this fresh injection of capital, Locad plans to continue refining its logistics technology and expanding its services to new markets, contributing to the evolving landscape of e-commerce logistics.
