Locus optimizes logistics operations for enterprises, across sectors,
to improve efficiencies resulting in higher profitability, expanding its
global footprint with the secured funding from Falcon Edge Capital,
Tiger Global Management and others
NEW YORK–(BUSINESS WIRE)–Locus (https://www.locus.sh/),
a global AI-backed supply chain optimization company, has secured $22
Million in (Series B) funding by Falcon Edge Capital and Tiger Global
Management. Previous investors Exfinity Venture Partners and Blume
Ventures also took part in this round.
After demonstrating successful customer rollouts across sectors in
India, the company began expanding to North America and Southeast Asia
in 2018. The new round of funding will help Locus penetrate deeper into
the new markets by enhancing the product and solutions for each
geography and also in expanding local teams.
Locus automates human decisions required to transport a package or a
person, between any two points on earth, delivering gains along the axes
of efficiency, consistency and transparency in operations. The company’s
premier logistics optimization solutions include route optimization,
real-time tracking of orders, insights and analytics, dynamic sales
journey plans, and automated shipment sorting. Locus is focused on
solving complex real-world logistics problems like increasing First
Attempt Delivery Rate (FADR) for e-commerce companies, sales
transformation for global CPG companies, and suggesting optimal fleet
mix for 3PL companies.
“Locus provides autonomous supply chain optimization, thus minimizing
the dependency on human intelligence, built by an incredible team of
PhDs and Engineers. Product applications include clubbing of forward and
reverse logistics in a single route plan, schedule and on-demand
dispatch planning, and automatic escalation management. Locus is on an
unprecedented path to automate every possible decision in the supply
chain. The funding will act as a boost to our global expansion efforts
as we amplify our team size specifically in North America and continue
to build our IP,” said Locus CEO Nishith Rastogi.
“We believe the trillion-dollar global logistics market is ripe for
disruption via technological change, particularly AI and machine
learning-driven solutions. We are excited to lead a Series B round in
Locus, a company that deploys AI/ML/deep tech to drive route
optimization outcomes in global logistics markets. With Hindustan
Unilever, Blue Dart and other prolific anchor customers, the team has
demonstrated the ability to build and deliver cutting-edge technology
and algorithmic-driven outcomes that provide attributable ROI to the
enterprise at scale. We are excited to help Locus expand its breadth and
depth of product and sales reach, moving from route optimization to a
full-stack SaaS offering to the enterprise around its logistics needs,”
said Navroz D. Udwadia, Co-Founder, Falcon Edge Capital.
Locus has established itself as an innovative leader in AI-backed
logistics solutions by tackling the industry’s core supply chain
challenges and operational complexities. One of the largest e-grocery
players in India is using Locus to achieve 99.5% SLA adherence for its
10Mn+ customers. Locus currently serves 40+ clients globally, saving
logistics cost at scale and increasing productivity and profitability
for enterprises across multiple segments, owning a peak of over 1
million orders processed in a day. Locus has offices in India, the U.S.
and Indonesia and dedicated local teams for these regions.
Locus is an advanced supply chain optimization company that uses
proprietary algorithms and deep learning to provide route optimization,
real-time tracking, insights and analytics, dynamic sales journey plans,
efficient warehouse management and vehicle allocation and utilization.
Locus identifies new gaps in the logistics sector and fills them with
AI-based decision-making solutions helping enterprises reduce logistics
cost, enable on-time deliveries and provide a delightful end user
experience. Founded by Nishith Rastogi and Geet Garg, the company is
comprised of engineers and data scientists from Carnegie Mellon
University and Indian Institute of Technology. The company now has
operations in the U.S., Indonesia, Singapore, India, and Australia. For
more information on Locus, go to https://locus.sh/