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Logistics Startup Locad Gets Seed Funding From Sequoia Surge, Others

Jul 05, 2021•about 4 years ago

Round Type

seed

Mumbai

Description

Mumbai: Locad, a logistics and supply chain management company, has raised $4.9 million in a seed funding round led by Sequoia India’s Surge, a startup accelerator. The fundraise also saw the participation of Antler, Febe Ventures, Foxmont, Global Founders Capital, Gokongwei Family and Hustle Fund, among others.

Company Information

Company

Locad

Location

Mumbai, Maharashtra, India

About

The company has offices in Australia, Hong Kong, India, the Philippines and Singapore. “Business customers of Locad have the opportunity to integrate with e-commerce platforms such as Shopify, WooCommerce, Amazon, Shopee, Lazada and Zalora,” the company said in a statement. Constantin Robertz, Jannis Dargel and Shrey Jain, who served in multiple leadership roles at Southeast Asian startups Grab and Zalora, came together in October 2020 to start Locad in Manila and Singapore. While Locad has operations spread across Southeast Asia, where the logistics market is expected to be worth $55.7 billion by 2025, its technology hub lies here in India. Locad is part of Sequoia Surge’s fifth cohort of 23 companies.