Riyadh – Sharikat Mubasher: Locad, the leading smart digital logistics engine empowering consumer brands with its Cloud Supply Chain-as-a-Service for global distribution, announced the successful closure of its $9 million pre-Series B fundraise.
The round was co-led by Global Ventures and existing investor Reefknot Investments with other new investors including Sumitomo Equity Ventures and existing investors Antler Elevate; Febe Ventures; and JG Summit, according to a press release.
The fresh capital is meant to accelerate Locad's international expansion, starting with the UAE and Saudi Arabia in Q4 2024 as part of its ‘Grow Global, Go Local’ strategy for brands, and will also be used to enhance Locad's AI-driven smart logistics capabilities.
Constantin Robertz, CEO and Co-Founder of Locad said: “We are on a mission to enable smart digital logistics for consumer brands. Over the last four years, we have built a cloud supply chain platform in APAC that allows brands to unify their omnichannel distribution and access localized fulfillment in the growth markets of SEA and AU. We are now excited to take Locad global, opening our presence in the US and entering the GCC, to make it easier for brands to sell anywhere with a fully localized customer experience.
Noor Sweid, Founder and Managing Partner of Global Ventures, commented: “We are delighted to lead Locad’s funding round. Locad’s innovative engine is transforming how brands manage their supply chains and enabling faster, more efficient customer reach—aligning with our thesis on the need for decentralized and resilient supply chains to meet today’s consumer demands. Locad is a prime example of this shift—offering a localized, efficient solution that aligns with our vision for the future of supply chains. We are confident Locad is well-positioned to capitalize on opportunities in rapidly evolving markets like MENA, embodying the future of agile and sustainable logistics.”
Marc Dragon, Managing Director of Reefknot Investments, commented: “At Reefknot, we are excited to co-lead this oversubscribed funding round and deepen our commitment to Locad as they expand their global reach and impact. Since our Series A investment, Locad has demonstrated a strong ability to execute, scaling their asset-light fulfillment model across markets in Southeast Asia, Australia, and China while continuously deepening their product capabilities with AI-driven features such as demand, inventory, and carrier analytics & optimization. We are confident that Locad’s global expansion, combined with their dedication to product, technology, and service quality and innovation, will create exceptional value for brands aiming to grow overseas and elevate their respective customer experience.”
Shrey Jain, Co-Founder and CTO of Locad commented: “By integrating smart digital logistics with AI-driven insights, we empower brands to optimize their supply chains—placing inventory closer to demand, reducing delivery times, and enhancing customer satisfaction. This fundraising allows us to double down on building a robust, tech-enabled logistics ecosystem that drives efficiency and helps brands thrive in an increasingly dynamic commerce landscape."
Jannis Dargel, Co-Founder and COO of Locad commented: “For brands, unifying inventory across sales channels in e-commerce and retail leads to higher revenue and faster sell-through, and localized fulfillment and delivery allows brands to increase conversion rates and improve customer experience.”
