📦 Funding fuels Middle East growth
Locad, a logistics startup specializing in order fulfillment and inventory management, raised $9M in its pre-series B round. The funding brings Locad's valuation to $60M. This investment supports its expansion into Saudi Arabia and the UAE, targeting the booming ecommerce market in Q4 2024.
🤖 Leveraging AI to optimize logistics
Locad plans to use the funds to enhance its AI-driven tools and analytics capabilities. These improvements aim to help businesses optimize inventory and demand management. Its cloud-based logistics engine integrates with Shopify, Shopee, Amazon, and TikTok Shop, driving efficiency for over 300 clients.
🌍 Meeting post-pandemic ecommerce demand
The global ecommerce surge post-Covid-19 has created high demand for efficient logistics. Shrey Jain, Locad's CTO, stated, “This fundraise allows us to double down on building a robust, tech-enabled logistics ecosystem.” Locad’s services are critical in supporting businesses in Southeast Asia and beyond.
📈 Growing presence across markets
Since raising $11M in its Series A round last year, Locad has expanded across Southeast Asia and Australia. It serves over 300 customers, providing warehousing and logistics solutions tailored to the ecommerce industry. This funding ensures its readiness to scale further globally.
How will AI shape the future of logistics?
