King & Spalding Advised Global Ventures III On Pre-Series B Funding
King & Spalding Advised Global Ventures III On Pre-Series B Funding
A cross-office team of King & Spalding lawyers represented Global Ventures III, a fund sponsored by Global Ventures, in co-leading the successful $9 million pre-Series B funding round of Singapore-based logistics startup Locad. The funding round was co-led by Global Ventures and Reefknot Investments, with participation from Sumitomo Equity Ventures and existing investors Antler Elevate, Febe Ventures, and JG Summit.
Locad, a logistics-tech company, provides e-commerce brands with a cloud-based supply chain-as-a-service for global distribution. Its platform enables brands to consolidate all e-commerce and retail sales channels into a single inventory pool, managed through a smart logistics network. The platform offers real-time visibility, analytics, and AI-driven workflow automation for supply chain management.
Primarily operating in Asia, Locad’s oversubscribed funding round will support its international expansion, marking its entry into the GCC, beginning with the UAE and Saudi Arabia. Global Ventures is a UAE-based venture capital firm focused on enterprise technology investments across emerging markets, particularly in the Middle East, Africa, and Pakistan.
The King & Spalding team advising on the transaction 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).
