Locus, a Bangalore, Karnataka-based AI-backed supply chain optimization company, secured $22M in Series B funding.
The round was led by Falcon Edge Capital and Tiger Global Management, with participation from previous investors Exfinity Venture Partners and Blume Ventures.
The company intends to use the funds to penetrate deeper into North America and Southeast Asia by enhancing the product and solutions for each geography and also in expanding local teams.
Founded by Nishith Rastogi and Geet Garg, 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. The platform 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 an improved end user experience.
The company now has operations in the U.S., Indonesia, Singapore, India, and Australia.