backA cross-office team of King & Spalding lawyers represented Global Ventures III, a fund sponsored by our client, Global Ventures, to co-lead the successful $9 million pre-Series B funding round of Singapore-based logistics startup Locad. Global Ventures co-led the round with Reefknot Investments. Other participating investors included Sumitomo Equity Ventures and existing investors Antler Elevate, Febe Ventures, and JG Summit.
Locad is a logistics-tech focused company which supports e-commerce brands with its cloud supply chain-as-a-service for global distribution. Its cloud-based supply chain enables brands to connect all of their e-commerce and retail sales channels to a single pool of inventory and smart logistics network, which Locad manages through its proprietary oversight platform.
This platform provides clients with real-time visibility, analytics, and AI-enhanced workflow automation for their supply-chain. Locad primarily operates in Asia, but the oversubscribed fundraising round will enable Locad’s international expansion and marks its first foray into the GCC, starting with the UAE and Saudi Arabia. Global Ventures is a United Arab Emirates based venture capital firm with a focus on enterprise technology investments across emerging markets, primarily in the Middle East, Africa and Pakistan.
The King & Spalding team was led by Dubai-based partner Macky O’Sullivan and senior associate Jill Cooper in Singapore. The team also included James R. Stull (Dubai), Jake Downing (Chicago), Luke Edwards (Sydney), Amy Levin (London), Alexa Christianson (Northern Virginia), Antonino Meduri (Sydney) and Billy Sin (London).