VC Fund Investments
S’pore-based, Peak XV-backed logistics tech co. Locad raises $9-M
Singapore- and Bengaluru-based e-commerce logistics startup Locad has raised USD 9 million (about INR 76 crore) in a pre-Series B round co-led by Global Ventures and existing investor Reefknot Investments. The round also saw participation from Sumitomo Equity Ventures and existing investors Antler Elevate, Febe Ventures and JG Summit.The company will use the fresh proceeds to expand its overseas footprint and scale up its AI-driven smart logistics stack.Founded in 2020 by Shrey Jain, Constantin Robertz and Jannis Dargel, Locad offers cloud supply chain to e-commerce brands to grow their omnichannel business and automatically store, pack, ship and track orders. The company claims to support more than 300 consumer brands across Southeast Asia and Australia.
Between Jul-21 and Jan-23, Locad had raised about USD 15 M from Peak XV Partners’ Surge program, Access Ventures, Antler India, FEBE Ventures, Peak XV Partners, ReefknoT Investments, Western Technology Investment, Foxmont Capital Partners, Hustle Fund, Rocket Internet and Others
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