Locad fuels GCC expansion plans via $9m funding round - Mubasher Info

Mubasher: Leading smart digital logistics engine Locad raised a $9 million pre-Series B fundraising co-led by Global Ventures, MENA’s leading venture capital firm, and existing investor Reefknot Investments.

Sumitomo Equity Ventures and existing investors, including Antler Elevate, Febe Ventures, and JG Summit also participated in the fundraising transaction, according to a press release.

The new funding will accelerate Locad's global expansion, starting with the UAE and Saudi Arabia in the fourth quarter (Q4) of 2024. It will also improve the platform’s AI-driven smart logistics capabilities.

Locad seeks to build the supply chain infrastructure of modern commerce connecting brands to consumers in growth markets with a global cloud supply chain as-a-service.

Through operating in the UAE and Saudi Arabia, Locad will enable GCC-based brands to scale in one of the world’s most dynamic e-commerce markets. It allows brands to connect all sales channels in e-commerce and retail to a single inventory pool and a smart logistics network.

Meanwhile, international brands planning GCC entry and growth with a local presence can use Locad as a gateway, with in-country fulfilment and shipping.

Constantin Robertz, CEO and Co-Founder of Locad, said: “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.”

Noor Sweid, Founder and Managing Partner of Global Ventures, commented: “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 decentralised and resilient supply chains to meet today’s consumer demands.”

Shrey Jain, Co-Founder and CTO of Locad, stated: “By integrating smart digital logistics with AI-driven insights, we empower brands to optimise their supply chains—placing inventory closer to demand, reducing delivery times, and enhancing customer satisfaction.”

“This fundraise allows us to double down on building a robust, tech-enabled logistics ecosystem that drives efficiency and helps brands thrive in an increasingly dynamic commerce landscape,” Jain added.

Source: Mubasher Source: {{details.article.source}}