Locus raises $4m in pre-series B funding

Locus, Bengaluru-based logistics platform, on Monday raised $4 million in a pre-Series B round.

The three-year-old startup helps companies map out their logistics has said that the funding will be used for its global footprint and further strengthening its position in India.

The company raised the funding from Rocketship.vc, Recruit Strategic Partners, pi Ventures and Hemendra Kothari of DSP Group. The previous investors Blume Ventures, Exfinity Venture Partners, BeeNext and growX ventures also participated in the funding.

Locus optimises logistics operations for enterprises, across sectors, to improve efficiencies resulting in higher profitability. The funds will be used to continue to build IP and for global expansion.

The company was founded in mid 2015 by Nishith Rastogi and Geet Garg who worked together at Amazon.

The duo initially developed a safety app that mapped out optimal routes to let a ride-hailing customer sense if their driver is sticking to the designated route and not deviating.

They later tweaked the product so that it can be used by enterprise companies to track their logistics.

Locus CEO and Co-founder Nishith Rastogi said the 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 Rastogi.

Locus is a decision making engine that uses 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.

Commenting on the transaction, Rocketship.vc Partner Sailesh Ramakrishnan said Locus is in the forefront of a new wave of technology companies that are disrupting traditional fields like logistics.

Locus has automated logistics for leading companies worldwide like Urban Ladder, Tata Group of Companies, Droplet, Licious, Rollick, Lenskart, other global FMCG, pharma, ecommerce, 3PL and logistics conglomerates. Locus currently works with clients in India, Singapore, Jakarta, Phoenix and Vancouver.

The company has assembled a strong team of engineers, scientists from Carnegie Mellon University (CMU) and Tata Institute of Fundamental Research (TIFR), with sales led by a seed round investor and a multifaceted deployment team with extensive operational execution experience.

According to the PWC report ‘Future of the Logistics Industry’, with over $4 trillion of value to be captured, digital logistics is a force to reckon with globally.