Logistics startup Locad raised $11 million in Series A led by Reefknot Investments

January 16, 2023

, By Editorial Team

Funding LogisticTech

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Logistics startup Locad raised $11 million in Series A led by Reefknot Investments, a fund led by Temasek and Kuehne & Nagel where existing investors Sequoia India’s Surge, Febe Ventures, Antler, and new investors–Access Ventures, JG Summit and WTI also participated.

Locad provides ecommerce brands with a cloud supply chain that allows them to grow their omnichannel business by automatically storing, packing, shipping, and tracking orders across the Asia-Pacific region. Locad plans to use the additional funds to expand its product development and hire talent across India and Asia-Pacific (APAC). It will also invest in expanding its fulfilment network. Currently, the startup is expanding its warehouse capacity, partnering with transport operators, and hiring talent for its Bengaluru office. According to Statista, the country’s supply chain market is expected to be worth $250 billion in fiscal year 2021. The industry is expected to be worth $380 billion by 2025, with a CAGR of 10-12% over the forecasted period.

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Logistics startup Locad raised $11 million in Series A led by Reefknot Investments

January 16, 2023

, By Editorial Team

Funding LogisticTech

Logistics startup Locad raised $11 million in Series A led by Reefknot Investments, a fund led by Temasek and Kuehne & Nagel where existing investors Sequoia India’s Surge, Febe Ventures, Antler, and new investors–Access Ventures, JG Summit and WTI also participated.

Locad provides ecommerce brands with a cloud supply chain that allows them to grow their omnichannel business by automatically storing, packing, shipping, and tracking orders across the Asia-Pacific region. Locad plans to use the additional funds to expand its product development and hire talent across India and Asia-Pacific (APAC). It will also invest in expanding its fulfilment network. Currently, the startup is expanding its warehouse capacity, partnering with transport operators, and hiring talent for its Bengaluru office. According to Statista, the country’s supply chain market is expected to be worth $250 billion in fiscal year 2021. The industry is expected to be worth $380 billion by 2025, with a CAGR of 10-12% over the forecasted period.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News

Mohalla Tech Private Ltd laid off 500 people, or roughly 20% of its workforce

Next News

Paytm Payments Bank gets final RBI nod to operate as Bharat Bill Payment Operating Unit

StartupNews.fyi is a leading global startup and technology media platform known for its end-to-end coverage of the startup ecosystem across India and key international markets. Launched with the vision of becoming a single gateway for founders, investors, and ecosystem enablers, StartupNews.fyi has grown steadily over the years by publishing tens of thousands of verified news stories, insights, and ecosystem updates, reaching millions of startup enthusiasts every month through its digital platforms and communities.

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