Locus Raises $4 Million in Pre-Series B Funding From Major Venture Groups
Monday, 04 June 2018, 22:25 IST
According to PwC report, ‘Future of the Logistics Industry’, with over $4 trillion of value to be captured, digital logistics is a force to rely upon. Locus, an intelligent logistics automation platform raises $4 million in their pre-Series B round of funding from Rocketship.vc, Recruit Strategic Partners, piVentures and Mr. Hemendra Kothari of DSP Group, with the participation from previous investors Blume Ventures, Exfinity Venture Partners, BeeNext and growX ventures.
Sailesh Ramakrishnan, Partner, Rocketship.vc, says, “Locus is in the forefront of a new wave of technology companies that are disrupting traditional fields like logistics and optimization through the use of cutting-edge artificial intelligence techniques.”
Founded in 2015, Locus helps logistics operations for enterprises across different sectors to improve efficiencies which result in high profits. It uses the fund to continue building IP and global expansion. Locus has done logistics for well reputed companies like Urban Ladder, Tata Group of Companies, Droplet, Licious, Rollick, Lenskart and other logistics conglomerates. It currently operates in India, Singapore, Jakarta, Phoenix and Vancouver. Locus is an intelligent automation platform which helps companies and enterprises in e-Commerce, food delivery, FMCG and other verticals to automate and optimize their logistics. Its product suite comprises of a route deviation engine, order dispatch automation, a field user app, route optimizations, scheduling, tracking for end-customer, and predictive analytics.
Nishith Rastogi, CEO & Co-Founder, Locus, says, “Locus’ team is focused on building IP to solve complex real-world logistics problems globally, to increase productivity and profitability for enterprises. We are delighted to have marquee investors support us in our vision to automate all human decisions involved in logistics.”
Read more news:
Google India introduces 'Neighbourly' app to solve local queries