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Locad raises $9m to spread wings into UAE and Saudi Arabia

TCN Bureau
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Locad raises $9m to spread wings into UAE and Saudi Arabia
  • It is on a mission to build the supply chain infrastructure of modern commerce connecting brands to consumers in growth markets with a global cloud supply chain as-a-service.

Singapore-based smart digital logistics engine – Locad – has raised $9 million in Pre-Series B fundraising to expand into UAE and Saudi Arabia as part of its ‘Grow Global, Go Local’ strategy for brands.

The round was co-led by Global Ventures and existing investor Reefknot Investments. Other participating investors include Sumitomo Equity Ventures and existing investors Antler Elevate; Febe Ventures; and JG Summit.

The new funding will also be used to enhance Locad’s AI-driven smart logistics capabilities. Locad is on a mission to build the supply chain infrastructure of modern commerce connecting brands to consumers in growth markets with a global cloud supply chain as-a-service.

 “Over the last four years we have built a cloud supply chain platform in APAC that allows brands to unify their omnichannel distribution and access localised fulfillment in growth markets of SEA and AU. We are now excited to take Locad global, opening our presence in the US and entering the GCC, to make it easier for brands to sell anywhere with a fully localised customer experience,” Constantin Robertz, CEO and Co-Founder of Locad, said. 

Smart digital logistics

Locad’s cloud supply chain enables smart digital logistics and open commerce for consumer brands through an integrated operating system and supply chain infrastructure as a service and allows brands to connect all sales channels in e-commerce and retail to a single pool of inventory and a smart logistics network, managed through its Control Tower orchestration platform that provides real time visibility, analytics, and AI enhanced workflow automation. 

Innovative engine

Noor Sweid, Founder and Managing Partner of Global Ventures, said that Locad’s innovative engine is transforming how brands manage their supply chains and enabling faster, more efficient customer reach – aligning with the need for decentralised and resilient supply chains to meet today’s consumer demands. 

 “Locad is a prime example of this shift – offering a localised, efficient solution that aligns with our vision for the future of supply chains. We are confident Locad is well-positioned to capitalise on opportunities in rapidly evolving markets like MENA, embodying the future of agile and sustainable logistics.”

By integrating smart digital logistics with AI-driven insights, Shrey Jain, Co-Founder and CTO of Locad, said that they are empowering brands to optimise their supply chains—placing inventory closer to demand, reducing delivery times, and enhancing customer satisfaction.

“The fundraise allows us to double down on building a robust, tech-enabled logistics ecosystem that drives efficiency and helps brands thrive in an increasingly dynamic commerce landscape.”

Since its 2023 Series A round, Locad has made significant strides in expanding its market presence and refining its platform. The company now supports over 300 consumer brands across Southeast Asia and Australia, providing smart digital logistics solutions to enhance operational efficiency and customer experience.

Locad’s logistics engine integrates seamlessly with leading e-commerce platforms such as Shopify, Shopee, Amazon, and Tiktok, enabling brands to optimise their inventory and delivery management across diverse sales channels.

Qualcomm to invest in automotive and IoT technologies to spur growth

Naushad K. Cherrayil
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Qualcomm to invest in automotive and IoT technologies to spur growth
  • Company reports a positive outlook on the incoming Trump administration, reflecting a belief in maintaining favorable relations with government officials.
  • Amon reassures investors that existing relationships with Chinese firms had strengthened, particularly in the automotive sector.
  • Company is making significant strides to diversify its revenue streams and reduce dependence on the smartphone market.

Qualcomm, a dominant player in the global smartphone processor market, has set ambitious goals, projecting an additional $22 billion in annual revenue by fiscal 2029 through its expansion into new markets, notably automotive chips and the Internet of Things (IoT).

The strategic pivot reflects Qualcomm’s response to changing market dynamics and the need to mitigate risks associated with its reliance on the smartphone sector.

Under the leadership of Chief Executive Officer Cristiano Amon, who assumed his role in 2021, Qualcomm has actively sought to broaden its focus beyond its traditional stronghold in smartphones.

The initiative includes a concerted effort to penetrate the automotive chip market, which is anticipated to contribute $8 billion annually, and to capitalise on the burgeoning IoT sector, projected to yield an additional $14 billion.

The IoT category encompasses a wide array of connected devices, including personal computers, industrial machinery, and virtual reality equipment, thereby expanding Qualcomm’s footprint across diverse industries.

Diversification

Amon has articulated a vision for Qualcomm that embraces a total market opportunity of $900 billion by 2030, underscoring the vast potential for growth outside of mobile communications.

The urgency to diversify stems from Qualcomm’s impending loss of a significant customer, Apple Inc., which is in the process of developing its own radio connectivity components.

The development poses a considerable threat to Qualcomm’s revenue stream, as Apple has historically been one of its largest clients.

By diversifying its product offerings and targeting new markets, Qualcomm aims to cushion the impact of this loss and secure its financial future.

During a recent investor presentation in New York, Qualcomm executives expressed optimism regarding the company’s prospects, even amid geopolitical tensions and potential trade tariffs.

Maintaining favourable relations

The company reported a positive outlook on the incoming Trump administration, reflecting a belief in maintaining favourable relations with government officials.

Qualcomm’s technology licensing business, led by Alex Rogers, emphasised the importance of its existing partnerships and the potential for continued collaboration, even in the face of proposed tariffs on Chinese imports.

Notably, Qualcomm derived nearly half of its revenue from China, and Amon reassured investors that existing relationships with Chinese firms had strengthened, particularly in the automotive sector.

However, Qualcomm’s history with US-China trade relations has been fraught with challenges. The company previously faced setbacks, such as the abandonment of a $44 billion acquisition of NXP Semiconductors due to regulatory hurdles in China.

The experience has heightened awareness of the complexities of operating in a global market characterized by political and economic uncertainties.

In fiscal 2024, Qualcomm reported revenue of $8.32 billion from non-smartphone chip categories, which constituted only a third of its total revenue of $24.86 billion.

The disparity highlights the critical need for Qualcomm to accelerate its diversification efforts to ensure sustainable growth. By strategically investing in automotive and IoT technologies, Qualcomm is positioning itself to not only recover from potential losses but also to thrive in an increasingly competitive landscape.

UAE stands at helm of tech-driven banking revolution in Mideast

Ana Mary Joseph
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UAE stands at helm of tech-driven banking revolution in Mideast
  • Adopts practices such as open banking and integrating financial services into non-banking platforms.

The United Arab Emirates (UAE) is emerging as the leader of banking innovation across the Middle East, commanding a significant portion of the region’s $3.2 trillion banking assets.

A report from Arthur D. Little (ADL) emphasises the UAE’s influential role in digital banking, highlighting its capacity to reshape financial services throughout the Gulf Cooperation Council (GCC) region.

Yacin Mahieddine, a Partner in the Global Financial Services practice at ADL, said that the UAE’s banking strategy transcends mere competitiveness; it aims at establishing a global benchmark.

“The UAE’s Central Bank has pioneered initiatives such as the digital currency program and advanced blockchain integration, which fundamentally redefine its status as a modern financial hub. This transformation is characterised not only as a trend but as a structural shift with far-reaching implications for global markets.”

The UAE banks are harnessing lessons from Southeast Asia, adopting practices such as open banking and integrating financial services into non-banking platforms.

The approach, combined with advanced data analytics, offers personalised customer experiences that enhance loyalty and facilitate entry into new small and medium-sized enterprise (SME) segments.

Central Bank Digital Currency

The digital banking sector has exhibited remarkable growth, achieving a compound annual growth rate (CAGR) of 8.7 per cent over the past two years and projected to reach $175.7 billion by 2029.

A key element in this transformation is the Central Bank of the UAE’s pioneering program for Central Bank Digital Currency (CBDC), which positions the UAE at the forefront of financial inclusivity and modernisation in the Middle East.

Several banks within the UAE have already implemented blockchain technology for cross-border payments, establishing a regional benchmark for both efficiency and innovation.

Cultural shift

Nelson Danam, a Principal at ADL, said the transformation within the UAE’s banking sector is as much a cultural shift as it is technological.

“The readiness to embrace advanced technologies such as artificial intelligence and blockchain reflects an organisational culture that prioritises change and innovation. By investing in both cutting-edge technology and the talent to leverage it, UAE banks are not only aligning with global standards but are actively redefining them.”

Looking forward, 80 per cent of UAE banks have identified digital transformation as a priority for 2024, positioning the nation at the helm of a tech-driven banking revolution in the region.

Through strategic technological partnerships and cloud-based customer relationship management solutions, UAE banks are redefining customer service and operational efficiency for an increasingly digital audience.

Moreover, investments in workforce development, exemplified by new Digital Academy models, are nurturing the skills necessary for a thriving digital economy.

Microsoft invests in custom chip design to cut reliance on Intel and Nvidia

Naushad K. Cherrayil
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Microsoft invests in custom chip design to cut reliance on Intel and Nvidia
  • Official says the initiative is part of Microsoft’s broader goal to “optimise every layer of infrastructure”.
  • Unveils Microsoft Security Exposure Management platform to anticipate potential vulnerabilities that hackers might exploit to infiltrate corporate networks.
  • US giant adopts a robust strategy to enhance AI operations and data security within its infrastructure.

At the Ignite conference, Microsoft unveiled two groundbreaking infrastructure chips aimed at enhancing artificial intelligence (AI) operations and strengthening data security within its data centres.

The strategic initiative highlights Microsoft’s commitment to developing proprietary silicon tailored for both general-purpose applications and AI, a trend that reflects similar efforts by competitors such as Amazon and Google.

By investing in custom chip design, Microsoft seeks to achieve substantial performance and cost advantages while diminishing its reliance on established processor manufacturers like Intel and Nvidia.

Security chip

The newly introduced chips are designed for deep integration into Microsoft’s data centre architecture, with one chip focused on bolstering security and the other on optimising data processing capabilities.

Rani Borkar, Corporate Vice President of Azure Hardware Systems and Infrastructure, said that this initiative is part of Microsoft’s broader goal to “optimise every layer of infrastructure.” Such optimisation is essential for ensuring that data centres can process information efficiently, thereby meeting the demanding requirements of AI applications.

A key innovation is the Azure Integrated Hardware Security Module (HSM), which will be deployed in all new servers intended for data centres starting next year.

The security chip is engineered to safeguard critical encryption and security data, ensuring that sensitive information remains protected within a dedicated security environment.

The development is particularly timely, given the escalating concerns regarding data breaches and cyber threats in the contemporary digital landscape.

In addition, Microsoft introduced the Data Processing Unit (DPU), which consolidates various server components into a single chip optimised for cloud storage tasks. The company claims that this chip operates with three times less power while delivering four times the performance compared to existing hardware.

Advanced AI agents

Such advancements not only enhance operational capabilities but also align with the increasing emphasis on sustainability in technology infrastructure.

Moreover, Microsoft announced a new liquid cooling system for data centre servers, designed to mitigate heat generated by large-scale AI systems.

The cooling unit represents a significant advancement in maintaining optimal operating temperatures, which is crucial for the reliability and longevity of data centre equipment.

On the AI front, Microsoft showcased enhancements to its Microsoft 365 Copilot platform, including the introduction of new AI agents and Copilot Actions, which promise to streamline user experiences by automating tasks such as summarising meetings and processing emails.

The introduction of advanced AI agents, such as the Interpreter for Teams and the Employee Self-Service Agent, signifies a leap forward in automating routine tasks and improving workplace efficiency.

Furthermore, Microsoft has unveiled its Microsoft Security Exposure Management platform, a strategic advancement aimed at bolstering cybersecurity defenses.

The innovative software is designed to provide cybersecurity professionals with a comprehensive overview of the interplay between employee devices, files, and services within an organization.

By mapping out these connections, the platform enables experts to anticipate potential vulnerabilities that hackers might exploit to infiltrate corporate networks.

Tightening security posture

The primary objective of this initiative is to empower cybersecurity teams with insights into the tactics and techniques employed by cybercriminals. By understanding how attackers might navigate through a business’s digital landscape, organizations can proactively implement measures to thwart unauthorised access.

The preemptive approach not only enhances the overall security posture but also facilitates a more rapid response to emerging threats, thereby minimizing potential damage.

In addition to the Security Exposure Management platform, Microsoft is also enhancing security protocols surrounding artificial intelligence applications. The introduction of Data Loss Prevention for Microsoft 365 Copilot represents a significant step towards safeguarding sensitive information within AI-driven environments.

The feature allows organisations to monitor AI prompts for the retrieval of confidential data, thereby mitigating risks associated with data exposure. Furthermore, it equips businesses with the necessary tools to respond effectively to AI-related security incidents, ensuring that they remain vigilant in an increasingly complex technological landscape.

These announcements reflect Microsoft’s commitment to leveraging its extensive investments in artificial intelligence, including its partnership with OpenAI, to create robust cybersecurity solutions. As the digital landscape continues to evolve, the need for comprehensive security measures becomes paramount.

By offering innovative tools and insights, Microsoft is not only addressing current cybersecurity challenges but is also paving the way for a more secure future in the realm of technology.

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India takes regulatory action against WhatsApp and fines $25.4m

Mohammed Fahad
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India takes regulatory action against WhatsApp and fines $25.4m
  • Directive not only aims to protect consumer privacy but also to ensure fair competition in the digital marketplace.
  • The ruling, accompanied by a substantial fine of $25.4m, stems from violations related to the messaging application’s controversial 2021 privacy policy.

India’s Competition Commission (CCI) has directed WhatsApp to cease the sharing of user data with other applications owned by Meta Platforms, Inc.

The ruling, accompanied by a substantial fine of $25.4 million, stems from violations related to the messaging application’s controversial 2021 privacy policy.

The CCI’s decision underscores the growing scrutiny faced by global tech giants in India, particularly regarding user data protection and competitive practices.

The inquiry into WhatsApp’s privacy policy commenced in March 2021, following widespread public backlash against its terms, which permitted the sharing of user data with Facebook and its affiliated entities.

Protecting consumer privacy

The CCI’s ruling explicitly states that the sharing of data collected on the platform for purposes beyond the provision of WhatsApp services cannot be a prerequisite for users accessing the service in India.

The directive not only aims to protect consumer privacy but also to ensure fair competition in the digital marketplace.

Meta has yet to respond to the CCI’s announcement, reflecting the company’s ongoing challenges in navigating regulatory landscapes across different jurisdictions. As India contemplates a regulatory framework akin to the European Union’s antitrust laws, the implications for tech giants like Meta, Google, and Apple could be profound.

The proposed “Digital Competition Bill,” currently under review by the Indian government, seeks to address these concerns and enhance the regulatory environment governing digital platforms.

Opposition to the proposed legislation has emerged from influential lobby groups, such as the US-India Business Council, which express apprehension regarding its potential impact on business operations.

The apprehension reflects a broader tension between regulatory oversight and the interests of multinational corporations operating in diverse markets.

Critical zero-day vulnerability affects firewalls of Palo Alto Networks

Mohammed Fahad
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Critical zero-day vulnerability affects firewalls of Palo Alto Networks
  • Strong advisory issued urging users to restrict access to the management interfaces of their firewalls to internal networks only.
  • PAN has identified that attacks have originated from specific IP addresses, which may be associated with legitimate third-party VPN services, further complicating the threat landscape.

Palo Alto Networks (PAN), a leading cybersecurity firm, has recently confirmed the active exploitation of a critical vulnerability affecting its firewalls, particularly those with management interfaces exposed to the internet.

The zero-day vulnerability, assigned a severity score of 9.3 out of 10, allows unauthenticated attackers to execute commands remotely, posing a significant risk to organisations relying on PAN’s advanced firewall solutions.

In response to this alarming situation, Palo Alto Networks has issued strong advisory urging users to restrict access to the management interfaces of their firewalls to internal networks only.

The company emphasises that, until a patch is made available, the best course of action is to adhere to established best practices for configuration.

Mitigation strategy

Specifically, users are encouraged to ensure that access is limited to trusted internal IP addresses, thereby reducing the vulnerability’s severity to a lower, yet still concerning, score of 7.5.

The mitigation strategy underscores the importance of proactive security measures in safeguarding critical infrastructure.

The advisory highlights that the majority of firewalls already conform to these recommended best practices. However, devices that do not secure access to their management interfaces face increased risk, particularly as malicious activity has been detected targeting exposed interfaces.

Presence of malicious code

PAN has identified that attacks have originated from specific IP addresses, which may be associated with legitimate third-party VPN services, further complicating the threat landscape.

Moreover, the presence of malicious code on affected devices underscores the urgency of implementing the recommended security measures.

In addition to this critical vulnerability, Palo Alto Networks has disclosed further weaknesses in its software, including vulnerabilities in the Expedition migration tool for firewall configurations.

These vulnerabilities, which include OS command injection and SQL injection flaws, allow attackers to gain unauthorised access to sensitive information, including usernames, passwords, and device configurations.

Such revelations highlight the ongoing challenges faced by cybersecurity firms in maintaining the integrity of their products against evolving threats.

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