Global Ventures Co-Leads $9 Million Pre-Series B Funding for Locad
Global Ventures Co-Leads $9 Million Pre-Series B Funding for Locad
Locad secured $9 million to expand globally, with a focus on the GCC, as well as enhance its smart logistics system.
Locad, a leading smart digital logistics engine, has raised $9 million in a Pre-Series B funding round to accelerate its international expansion and enhance its AI-driven supply chain solutions. The round was co-led by Dubai-based Global Ventures and existing investor Reefknot Investments. Additional investors include Sumitomo Equity Ventures, Antler Elevate, Febe Ventures and JG Summit.
Locad's latest funding will propel its global expansion, starting with key markets in the GCC, particularly the UAE and Saudi Arabia, in Q4 2024. The company is positioning itself to support consumer brands in scaling their operations through its cloud-based supply chain-as-a-service platform.
'We are excited to support consumer brands globally by optimizing their supply chains and enhancing their customer experiences with faster, more reliable delivery,' said Shrey Jain, Co-Founder and CTO of Locad.
Locad's smart logistics platform integrates supply chain functions into a single system, offering consumer brands real-time visibility, analytics and workflow automation. This provides seamless coordination between multiple sales channels in e-commerce and retail, enabling brands to streamline inventory management and enhance customer experiences. Locad's Control Tower orchestration platform empowers businesses with comprehensive insights to improve supply chain operations.
To further drive its GCC expansion, Locad has appointed Dario La Torre as Regional Director for the GCC. La Torre brings experience in cross-border e-commerce and logistics, having worked at major companies such as Alibaba, Jumia, and Zalora.
The company's expansion into the GCC is set to establish a network of four regional fulfillment centers and provide a robust shipping engine optimized for local carriers. Additionally, it will integrate with major regional sales channels to offer smooth, localized e-commerce solutions. For international brands entering the GCC, Locad offers in-country fulfillment and shipping, helping them scale their presence in one of the most dynamic e-commerce markets.
Locad's platform integrates with leading e-commerce platforms such as Shopify, Amazon and Zid, allowing brands to optimize inventory and streamline their delivery management. The company's localized fulfillment model, which places inventory closer to demand, reduces delivery times and costs, making it an attractive partner for brands looking to expand globally.
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