Locus Raises $22Million from Falcon Edge & Tiger Global in Series B Funding
Locus, a global AI-backed supply chain optimization company, secures $22 Million from Falcon Edge Capital & Tiger Global Management in Series B funding. Its previous investors, Exfinity Venture Partners and Blume Ventures, were also a part of this round. Locus has raised a total of $26 Million in funding over 4 rounds. After successful customer rollouts across the sectors in India, the company began its expansion 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 products and solutions for each geography.
Nishith Rastogi, CEO of Locus, says, “Locus provides autonomous supply chain optimization, thus minimizing the dependency on human intelligence, built by an incredible team of PhDs & Engineers. Product applications include clubbing of forward and reverse logistics in a single route plan, schedule & 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.”
Locus automates the human decisions required to transport a package or a person, between any two points on earth by 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 & analytics, dynamic sales journey plans, and automated shipment sorting.
Currently, 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. It has offices in India, US, and Indonesia, and dedicated local teams for these regions.
“We believe the trillion dollars 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 prolific anchor customers such as Blue Dart, 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,” states Navroz D. Udwadia, Co-Founder of Falcon Edge Capital. He adds, “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.”