Singaporean venture capitalist keen on PH logistics sector
Singapore-based venture capitalist Reefknot Investments is keen on having a hand in developing the country’s supply chain and logistics sector—a crucial segment supporting the booming e-commerce industry—by injecting capital into startups.
The global investment firm, in a recent statement, noted the increasing demand for supply and logistic services given the rise of online retailers in line with the growing adoption of digital platforms.
This trend, Reefknot noted, made it crucial for businesses to secure efficient and reliable logistics solutions so their customers would receive their purchased products in a timely manner.
“The Asia-Pacific, including the Philippines, emerged as an investment region in part to macroeconomic tailwinds and intrinsic understanding of the different markets,” Reefknot vice president Ervin Lim said.
Committed
“Given our global backing and expertise in helping startups expand services and coverage in the region, Reefknot is committed to partnering with more fast-growing supply chain and logistics startups,” he added.
Most recently, it led the $11-million series A funding round of digital logistics service provider Locad.
Locad CEO and co-founder Constantin Robertz previously said they would penetrate more cities outside Metro Manila as part of his company’s expansion plan.
This means putting up more warehouses across the country where its clients can store their inventories near the customers, thus cutting delivery time, he explained.
Investee
Currently, Locad has 15 warehouses across the region; six of these are in the Philippines.
“Locad’s unique operating model of intelligently allocating inventory across distributed warehouses, with an asset-light model, ensures that inventory is kept close to the customers, thereby enabling significant cost and time savings for both brand and consumer,” Lim said.
The venture capitalist has been investing in the supply chain and logistics space in technology-based companies. The company said it was “doubling down” in Asia by ramping up regional investments and expanding presence of startups across the region. INQ
