Logistics platform Locus has raised $4 million in pre-Series B round of funding from Rocketship.vc, Recruit Strategic Partners, pi Ventures and Hemendra Kothari of DSP Group. The series also saw participation from existing investors such as Blume Ventures, Exfinity Venture Partners, BeeNext and growX ventures.
The start-up will use the funds for global expansion.
“Logistics accounts for 10 per cent of world GDP and is a direct contributor to inflation. Fortunately, with increasing data availability on operations it is now more possible than ever before to use technology for impactful logistics optimisation. Locus' sophisticated AI engine has delivered 10-15 per cent cost reduction in real-world scenarios across the globe,” said Manish Singhal, Founding Partner at pi Ventures.
Locus has automated logistics for leading companies worldwide such as Urban Ladder, Tata Group of Companies, Droplet, Licious, Rollick and Lenskart. Locus currently works with clients in India, Singapore, Jakarta, Phoenix and Vancouver.
Locus was founded in mid-2015 by Nishith Rastogi and Geet Garg, who worked together at Amazon.
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