Logistics optimisation platform Locus has raised approximately Rs 27 crore in their pre-Series B round of funding.
The funding has been raised from Rocketship.vc, Recruit Strategic Partners, pi Ventures and Hemendra Kothari of DSP Group, with participation from previous investors Blume Ventures, Exfinity Venture Partners, BeeNext and growX ventures.
The company focusses on optimisation of logistics operations for enterprises to improve efficiencies resulting in higher profitability.
A large part of this funding will be used for global expansion of the company.
Locus makes use of deep learning and proprietary algorithms to provide intelligent route optimisation, real-time tracking, insights and analytics, beat optimisation, efficient warehouse management, vehicle allocation and utilisation, intuitive 3D packing and measurement of packages.
“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,”said Sailesh Ramakrishnan, Partner, Rocketship.vc.
“Locus’ team is focussed 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”, said Nishith Rastogi, CEO & Co-founder, Locus.
The companyis already providing logistics for companies like Urban Ladder, Tata Group of Companies, Droplet, Licious, Rollick, Lenskart, other global FMCG, pharma, e-commerce, 3PL and logistics conglomerates. Locus currently works with clients in India, Singapore, Jakarta, Phoenix and Vancouver.
Founded by e-Amazon employees Nishith Rastogi and Geet Garg in 2015, Locus has a strong team of engineers, scientists from Carnegie Mellon University (CMU) and Tata Institute of Fundamental Research (TIFR).