Locus, a US based provider of a platform that automates supply chain decisions, raised $50m in Series C funding.
The round was led by GIC, with participation from Qualcomm Ventures and existing investors Tiger Global and Falcon Edge, as well as angel investors Amrish Rau, CEO of Pine Labs, Kunal Shah, CEO of Cred, Raju Reddy, founder of Sierra Atlantic, and Deb Deep Sengupta, former President & MD, SAP South Asia.
The company intends to use the funds for improving geographical reach and building its research and development team to expand the product line.
Led by Nishith Rastogi, CEO, Locus is a technology platform that uses machine learning and proprietary algorithms to automate complex supply chain decisions. Its smart supply chain solutions provide end-to-end visibility and enable enterprises to enhance their operational efficiency by reducing costs and and environmental impact while streamlining the customer experience. The company’s scalable solutions include route optimization, real-time tracking and analytics, sales beat optimization, territory planning, vehicle allocation and network design. They have resulted in $150 million+ savings in logistics costs, 70 million+ kilometer reductions in distance traveled, and 17 million+ kilograms reduction in GHG emissions for clients across sectors like e-commerce, retail, e-grocery, CPG/FMCG, home services, home deliveries, 3PL, transportation, and B2B distribution.
Clients include Nestle, Mondelez, Unilever, BigBasket, Bluedart, Bukalapak, The Tata Group, and many others.
The company has offices in the USA, the UK, India, Singapore, Indonesia, Vietnam, and Germany.