Logistics tech startup Locad has just completed a Series A financing round, bringing its total funding to $2.5 million. Founded in 2020, the Singapore-based company is developing a “logistics engine” to provide end-to-end logistics solutions for e-commerce businesses in Southeast Asia and Australia.
The company’s technology automates the management of last-mile and cross-border delivery processes, helping companies quickly and cost-effectively fulfill their e-commerce orders. Locad will use the funds to accelerate product development and expand its presence across the region.
“The logistics market in Southeast Asia and Australia is vast, but it is also highly fragmented,” said Locad co-founder and CEO Kenneth Tan. “By offering an end-to-end solution that simplifies the process of arranging for last-mile and cross-border delivery, we’re making it easier for e-commerce businesses of all sizes to effectively manage their end-customer deliveries.”
The company currently serves customers in countries including Indonesia, Malaysia, the Philippines, Thailand, Vietnam, and Australia. Locad has partnered with hundreds of logistics providers, enabling it to offer direct access to delivery services including road and rail, as well as direct access to re-packaging centers, customs clearance, and other value-added services.
Internally, the company has invested heavily in data engineering, leveraging sophisticated data science and machine learning algorithms to automate the delivery coordination process. “Our technology is enabling customers to streamline their last-mile and cross-border delivery process and maximize the delivery SLA visibility,” said Tan. “We have a long-term plan to create further efficiencies in the delivery chain, helping them make their import/export operations faster and better.”
Locad’s Series A investors included B2B-focused venture capital firm Fetch.vc and its network of angel investors. Founder Tan notes that the investment will enable the company to not only continue to optimize its technology, but also scale into new markets.
“Our technology is helping large and small e-commerce businesses across the region make their logistics processes faster and more efficient,” said Tan. “We’re just getting started, and we’re excited to continue to bring our ‘logistics engine’ to customers all over Southeast Asia and Australia.”
