Ex-Zalora, Grab execs’ logistics firm bags $11m in series A money

Locad, an end-to-end fulfillment service and cloud logistics provider based in the Philippines, has raised US$11 million in a series A funding round led by Reefknot Investments, a fund anchored by Singapore state-owned investor Temasek and logistics service provider Kuehne & Nagel.

Existing investors including Sequoia India and Southeast Asia’s Surge, Febe Ventures, and Antler also took part in Locad’s round, along with Access Ventures, JG Summit, and WTI.

Photo credit: Locad

Founded in 2020 by former Zalora executives Constantin Robertz and Jannis Dargel as well as ex-lead product manager of maps for Grab Shrey Jain, Locad was the first Philippine startup to join a cohort of Sequoia’s Surge.

The startup’s platform synchronizes inventory across sales channels such as Shopify, Lazada, Shopee, and TikTok Shop. Locad also provides order fulfillment for B2C and B2B transactions.

It offers these services through a network of warehouses and shipping partners, covering all parts of the process from storage to delivery.

To date, Locad has served over 200 brands across Singapore, Thailand, Hong Kong, Australia, and the Philippines to ship more than 2 million orders. The company said it has maintained a 99% same-day order fulfillment rate.

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“As modern consumer brands are transforming to direct-to-consumer and omnichannel retail, we have seen that the supply chain and fulfillment infrastructure is a key barrier to scaling the business for many brands,” said Robertz.

The firm will use the funds for network expansion and product development. It also plans to ramp up hiring to scale in Southeast Asia and Australia.