Singapore-based supply chain tech startup Locad has raised $11 million Series A investment led by Singapore-based global venture capital Reefknot Investments.

Other notable investors including Access Ventures, JG Summit, as well as returning investors Sequoia Surge, Febe Ventures, Antler, Hustle Fund, and Foxmont, Locad said in a statement.

The recent funding will enable Locad to strengthen its logistics engine by building the most extensive and interconnected supply chain network across Asia-Pacific through its technology platform.

This move will provide e-commerce brands with logistics capabilities to tackle the $170 billion e-commerce markets across Southeast Asia and Australia.

Locad is an eCommerce fulfillment player providing a logistics engine that enables e-commerce brands across the Asia-Pacific to sync inventory across online channels and organize end-to-end order fulfillment through its reliable network of warehouses and shipping partners in the region.

To date, Locad has served over 200 brands across Singapore, the Philippines, Australia, Thailand, and Hong Kong, and shipped more than 2 million orders while maintaining a 99 percent same-day order fulfillment rate.

“We are excited to partner with Locad to bring holistic end-to-end e-commerce logistics solutions to brands across the Asia-Pacific,” said Ervin Lim, Vice President of Reefknot Investments.

“Locad’s unique operating model of intelligently allocating inventory across distributed warehouses ensures that inventory is kept close to the customers, thereby enabling significant cost and time savings for both brand and consumer,

“We believe that Locad’s logistics engine will spur greater participation in the digital economy as consumers outside of Tier-1 cities can now receive their orders two to three times faster at a fraction of the usual cost,” he said.

“Asia-Pacific has emerged as a key investment region for us, due in part to macroeconomic tailwinds, and Reefknot vast networks and intrinsic understanding of this region to bring to bear for our portfolio,

“There remains much that we can contribute to this region, and we are fully committed to helping the supply chain and logistics startup ecosystem rise to take full advantage of the opportunity at hand,” he added.

The investment marks Reefknot’s second investment into the Asia Pacific. Following the growth of the sector, Reefknot is fully committed to investing in high-performing, transformative startups in the region.

Despite its status as an established global venture capital, Reefknot continues to set its sights on transforming and adding value to Asia’s supply chain landscape, which involves expanding global startups to operate in Asia Pacific.

Following the firm’s recent participation in Altana Technology’s $100 million Series B funding round, Reefknot now doubles down its commitment to Asia as its primary focus, demonstrated through its portfolio of companies operating here, including Pickupp, Roambee, and Secondmind.

Reefknot is a Singapore-based global investor that partners with high-growth technology companies pushing new frontiers within the supply chain and logistics space.

Its first $50 million fund has invested in exceptional founders and companies, including Roambee, Pickupp, Secondmind, and Previse, supporting them to make a transformational impact.

Singapore’s logistics firm Locad raises $11M Series A funding led by Reefknot Investments