Private Equity

VC Fund Investments

Sequoia India-backed logistics tech firm Locad raises $11-M

Economic Times  

Singapore-headquartered logistics and supply chain management integrator Locad has raised USD 11 million in a Series-A funding round led by Reefknot Investments, a fund anchored by Singapore's Temasek Holdings and Switzerland-based transport and logistics company Kuehne & Nagel. The round also saw participation from existing investors Sequoia Capital India and its Southeast Asia Surge fund, Febe Ventures, Antler, as well as new investors Access Ventures, JG Summit and Western Technology Investment. The proceeds will be used to expand the firm's supply chain platform. Locad's platform was built by its technology and engineering team based in Bengaluru. The platform synchronises inventory across sales channels and coordinates end-to-end order fulfilment for B2C and B2B orders, from storage to delivery, through a network of warehouses and shipping partners. Founded in 2020, Locad claims to have served more than 200 brands in Singapore, the Philippines, Thailand, Hong Kong and Australia, handling more than 2 million transactions.