According to TechCrunch, startup Locad, which creates an end-to-end solution for cross-border e-commerce companies and has a development staff in Ukraine, raised $4,9 million during its seed round.
Head of Engineering of the Ukrainian team Locad Yaroslav Polyakov said in a comment to AIN.UA that the startup plans to actively expand and has already opened new vacancies in Ukraine.
The round was attended by Sequoia capital India's surge, Antler, Febe Ventures, Foxmont, GFC and Hustle Fund and angel investors. The total investment was $4,9 million.
Locad will direct the raised investment towards integrating with a large number of couriers and sales channels (Locad can now be used with Shopify, WooCommerce, Amazon, Shopee, Lazada and Zalora) and developing new features for its cloud platform, including additional data analytics.
Yaroslav Polyakov also said that Locad's development staff in Ukraine also plans to expand.
“For half a year, front-end development has been carried out remotely from Odesa. We plan to expand the back-end development team and find 3-5 Python back-end engineers for our remote team in Ukraine. This is our key focus at the moment. And in parallel, we are looking for front-end (ReactJS) and lead full-stack engineers,” said the head of engineering of the Ukrainian Locad team.
Locad was founded in Singapore and Manila by Constantine Robertz, Jannis Dargel and Shrey Jain. The company now has offices in Australia, Hong Kong and India.
The startup's goal is to close the gap between first and last-mile delivery services, allowing e-commerce companies to offer lower rates and faster delivery.
For this, Locad has created a cloud platform that allows users to receive real-time information about stocks in warehouses and the number of orders. As well as seven fulfillment centers, four of which are in the Philippines and three others in Singapore, New South Wales, Australia and Hong Kong.