Falcon Edge Capital and Tiger Global Management bet big on AI backed supply chain optimization company Locus Falcon Edge Capital and Tiger Global Management bet big on AI backed supply chain optimization company Locus
Locus raises $22 Million in Series B Funding Locus optimizes logistics operations for enterprises, across sectors, to improve efficiencies resulting in higher profitability, expanding... Falcon Edge Capital and Tiger Global Management bet big on AI backed supply chain optimization company Locus

Locus raises $22 Million in Series B Funding

Locus
optimizes logistics operations for enterprises, across sectors, to improve efficiencies
resulting in higher profitability, expanding its global footprint with the
secured funding from Falcon Edge Capital and Tiger Global Management and others


NEW YORKMedia OutReach – May 14, 2019 – Locus (https://www.locus.sh/), a global
AI backed supply chain optimization company has secured $22 Million in (Series
B) funding by Falcon Edge Capital & Tiger Global Management. Previous
investors Exfinity Venture Partners and Blume Ventures also took part in this
round.



After demonstrating successful customer
rollouts across sectors in India, the company began expanding to North America
and Southeast Asia in 2018. The new round of funding will help Locus penetrate
deeper into the new markets by enhancing the product & solutions for each
geography and also in expanding local teams.

Locus automates human decisions
required to transport a package or a person, between any two points on earth,
delivering gains along the axes of efficiency, consistency, and transparency in
operations. The company’s premier logistics optimization solutions include
route optimization, real-time tracking of orders, insights and analytics,
dynamic sales journey plans, and automated shipment sorting. Locus is focussed
on solving complex real-world logistics problems like increasing First Attempt
Delivery Rate (FADR) for e-commerce companies, sales transformation for global
CPG companies, and suggesting optimal fleet mix for 3PL companies.


“Locus provides autonomous supply chain
optimization thus minimizing the dependency on human intelligence, built by an
incredible team of PhDs & Engineers. Product applications include clubbing
of forward and reverse logistics in a single route plan, schedule &
on-demand dispatch planning, and automatic escalation management. Locus is on
an unprecedented path to automate every possible decision in the supply chain.
The funding will act as a boost to our global expansion efforts as we amplify
our team size specifically in North America and continue to build our IP,” said
Locus CEO, Nishith Rastogi.

“We believe the trillion dollar global
logistics market is ripe for disruption via technological change, particularly
AI and machine learning driven solutions. We are excited to lead a Series B
round in Locus, a company that deploys AI/ML/deep tech to drive route
optimization outcomes in global logistics markets. With prolific anchor
customers such as Blue Dart, the team has demonstrated the ability to build and
deliver cutting edge technology and algorithmic driven outcomes that provide
attributable ROI to the enterprise at scale. We are excited to help Locus
expand its breadth and depth of product and sales reach, moving from route
optimization to a full-stack SaaS offering to the enterprise around its
logistics needs.” said Navroz D. Udwadia, Co-Founder, Falcon Edge Capital.

Locus has established itself as an
innovative leader in AI backed logistics solutions by tackling the industry’s
core supply chain challenges and operational complexities. One of the largest
e-grocery players in India is using Locus to achieve 99.5% SLA adherence for
its 10Mn+ customers. Locus currently serves 40+ clients globally saving
logistics cost at scale, increasing productivity and profitability for
enterprises across multiple segments, owning a peak of over 1 million orders
processed in a day. Locus has offices in India, US and Indonesia and dedicated
local teams for these regions.

About Locus

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 & utilization. Locus 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 a delightful end
user experience. Founded by Nishith Rastogi and Geet Garg, the company
comprises of engineers and data scientists from Carnegie Mellon University and
Indian Institute of Technology. The company now has operations in the US,
Indonesia, Singapore, India, and Australia. For more information on Locus, go
to
https://locus.sh/

Source:: Media Outreach

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