{"id":98138,"date":"2024-11-21T00:00:00","date_gmt":"2024-11-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/locad-secures-usd-9-mn-in-pre-series-b-funding\/"},"modified":"2024-11-21T00:00:00","modified_gmt":"2024-11-21T00:00:00","slug":"locad-secures-usd-9-mn-in-pre-series-b-funding","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/","title":{"rendered":"Locad secures USD 9 mn in pre-series B funding"},"content":{"rendered":"

Singapore-based<\/strong> e-commerce logistics startup Locad secured USD 9 mn in its <\/strong>pre-series B funding round<\/strong> to fuel its expansion into the UAE and Saudi Arabia in 4Q 2024, according to a press release<\/a>. The round was co-led by Global Ventures<\/a>, alongside existing investor Reefknot Investments<\/a>. Other participants in the round include Sumitomo Equity Ventures<\/a> and other current investors such as Antler Elevate<\/a>, Febe Ventures, and JG Summit<\/a>.<\/p>\n

The details: <\/strong>The platform will allow customers in the GCC to use its network of regional fulfillment centers, as well as use the shipping engine to connect with local shippers, find inventory, and manage order fulfillment. It will also be available to customers outside of the GCC looking to grow their local presence. <\/p>\n

About Locad: <\/strong>Founded by Constantin Robertz (LinkedIn<\/a>), Jannis Dargel (LinkedIn<\/a>) and Shrey Jain (LinkedIn<\/a>) in Singapore, Locad<\/a> is a logistics engine for e-commerce, providing a cloud supply chain platform that automates storage, packing, shipping, and tracking for B2C and B2B channels. It synchronizes inventory across platforms and manages order fulfillment via a network of warehouses and carriers, and also provides demand, inventory and carrier analytics. The startup currently serves some 300 brands across Southeast Asia and Australia. <\/p>\n

\n

OTHER STARTUP NEWS-<\/p>\n

Emirati Citadel International Holdings led a USD 3 mn series A round for <\/strong>Egyptian <\/strong>homeware brand <\/strong>ariika<\/a><\/strong>, alongside Beltone Venture Capital, Beltone Financial Holding\u2019s venture capital arm, according to a press release (pdf)<\/a>. <\/p>\n

Where is the money going?<\/strong> The funds will support ariika\u2019s expansion in its home market and help strengthen its presence in Saudi Arabia and Iraq, which are expected to account for half of the company\u2019s consolidated business by 2025. Ariika recently opened a flagship store in Baghdad and plans to launch its first Saudi Arabia location in January. The funds will also be channeled into developing its product portfolio and executing go-to-market strategies as part of its efforts to tap into a USD 20 bn home and decor market in the MENA region. <\/p>\n

Background: <\/strong>Citadel Holding tapped Egypt\u2019s Beltone Venture Capital<\/a> to manage its USD 30 mn Citadel fund, designed to back fast-growing startups in the MENA region. The fund has already made investments, including acquiring a 20% stake<\/a> in ariika following a EGP 31 mn funding round last year. Other portfolio companies include Egyptian courier Bosta, trucking startup Trella, and UAE-based fintech Qlub.<\/p>\n","protected":false},"excerpt":{"rendered":"

The funding will be used for expansion purposes<\/p>\n","protected":false},"author":1,"featured_media":98139,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1548],"tags":[7,99,78,147],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-98138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam-uae","tag-logistics","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"2d29a157-d1c0-4816-b678-c09a7ce2eca1","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/2057.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Locad secures USD 9 mn in Pre-series B funding","related_issue":[98122],"teaser":"The funding will be used for expansion purposes","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.4af49229-16af-4b73-87ec-d25dcb61b8d9.mp3"},"yoast_head":"\nLocad secures USD 9 mn in pre-series B funding - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Locad secures USD 9 mn in pre-series B funding\" \/>\n<meta property=\"og:description\" content=\"The funding will be used for expansion purposes\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-21T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2057.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Locad secures USD 9 mn in pre-series B funding\",\"datePublished\":\"2024-11-21T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/\"},\"wordCount\":392,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2057.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM UAE\",\"logistics\",\"STARTUP WATCH\",\"startups\"],\"articleSection\":[\"STARTUP WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/\",\"name\":\"Locad secures USD 9 mn in pre-series B funding - UAE\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2057.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-11-21T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2057.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2057.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/uae\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Locad secures USD 9 mn in pre-series B funding\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"name\":\"UAE\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\",\"name\":\"UAE\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42998.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42998.svg\",\"caption\":\"UAE\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Locad secures USD 9 mn in pre-series B funding - UAE","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/","og_locale":"en_US","og_type":"article","og_title":"Locad secures USD 9 mn in pre-series B funding","og_description":"The funding will be used for expansion purposes","og_url":"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/","og_site_name":"UAE","article_published_time":"2024-11-21T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2057.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Locad secures USD 9 mn in pre-series B funding","datePublished":"2024-11-21T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/"},"wordCount":392,"publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2057.jpg?fit=%2C&ssl=1","keywords":["EnterpriseAM UAE","logistics","STARTUP WATCH","startups"],"articleSection":["STARTUP WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/","url":"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/","name":"Locad secures USD 9 mn in pre-series B funding - UAE","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2057.jpg?fit=%2C&ssl=1","datePublished":"2024-11-21T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2057.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2057.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/uae\/"},{"@type":"ListItem","position":2,"name":"Locad secures USD 9 mn in pre-series B funding"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/uae\/#website","url":"https:\/\/enterpriseam.com\/uae\/","name":"UAE","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/uae\/#organization","name":"UAE","url":"https:\/\/enterpriseam.com\/uae\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42998.svg","contentUrl":"https:\/\/ent.news\/internal\/42998.svg","caption":"UAE"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2057.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2057.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2057.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/98138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/comments?post=98138"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/98138\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/issue\/98122"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media\/98139"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media?parent=98138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/categories?post=98138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/tags?post=98138"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/brand?post=98138"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=98138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}