Filipino Startup Locad Eyes Expansion to UAE and Saudi Arabia With $9 Million Series B Funding Round
E-commerce logistics engine Locad is turbocharging growth across Asia Pacific with a pre-Series B funding round worth $9 million (about P530 million), the company announced on Wednesday (November 20).
The round was co-led by Global Ventures and existing investor Reefknot Investments, with participation from Sumitomo Equity Ventures as well as existing investors Antler Elevate; Febe Ventures; and JG Digital Equity Ventures.
Early support came from local investors Kaya Founders, Foxmont Capital Partners, as well as JG DEV.
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According to the company, the fresh funding will accelerate Locad's international expansion, starting with the United Arab Emirates and Saudi Arabia in the fourth quarter of 2024 as part of its ‘Grow Global, Go Local’ strategy for brands. The funds will also be used “to enhance Locad's AI-driven smart logistics capabilities.”
The Series B round adds to the previous rounds Locad has completed over the last few years: a $4.9 million seed round in 2021 and a $11 million Series A round in 2023.
A third-party logistics startup that syncs inventory across sales channels such as Shopify, Lazada, Shopee, Woocommerce, and TikTok Shop, Locad allows modern consumer brands in the Philippines and across Asia-Pacific “to automatically store, pack, ship, and track orders in a distributed, end-to-end supply chain as-a-service.” It also helps fulfill B2C and B2B orders from storage to delivery through a network of warehouses and shipping partners.
The startup allows brands to connect all sales channels in e-commerce and retail to a single pool of inventory and a smart logistics network, managed through its Control Tower orchestration platform that provides real time visibility, analytics, and AI-enhanced workflow automation.
Founded in the Philippines in October 2020, Locad currently has six fulfillment centers across NCR, South Luzon, Visayas and Mindanao, where it helps leading brands and retailers with a distributed supply chain enable inventory placement closer to consumers, reducing transport costs and lead times across the archipelago. Locad also started to offer its technology as a software-as-a-service to large retail groups that run their own in-house operated warehouses on Locad’s cloud supply chain technology.
“We are on a mission to enable smart digital logistics for consumer brands,” Locad CEO and co-founder Constantin Robertz said in a statement. “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 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.
“Core to our mission is to enable brands and merchants to grow their business,” he added. “With the global expansion of our network and our recently launched LOCAD Borderless trade solutions, we are excited to help Pinoy brands expand their distribution in international markets.”
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“We are delighted to lead Locad’s funding round,” Noor Sweid, founder and managing partner of Global Ventures said. “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.
“We are confident Locad is well-positioned to capitalize on opportunities in rapidly evolving markets like MENA (Middle East and North Africa), embodying the future of agile and sustainable logistics,” he added.
