Locus raises $50 million in Series C funding led by Singapore’s GIC

SaaS News -Locus-raises-$50M-Series-C (source: SaaS Industry)

At a Glance

Locus, a logistics startup, has raised $50 million in Series C funding led by Singapore’s GIC. The fund will be utilized to extend the startup’s geographic reach as well as its R&D staff. To provide organizations with intelligent supply chain solutions, Locus uses machine learning and proprietary algorithms. It has offices in North America, Southeast Asia, and Europe.

Locus, a logistics startup, has raised $50 million in Series C funding led by GIC, Singapore’s sovereign wealth fund. Other participants include Qualcomm Ventures LLC, Tiger Global, and Falcon Edge.  

The investment round included angel investors Amrish Rau, CEO of Pine Labs; Raju Reddy, Founder of Sierra Atlantic; Kunal Shah, CEO of CRED; and Deb Deep Sengupta, former President and MD of SAP South Asia.

The fund will be used to expand the startup’s geographical reach and its research and development team. Locus has already raised $30 million in several stages.

Locus, which was founded in 2015, employs machine learning and proprietary algorithms to provide businesses with intelligent supply chain solutions. The startup has offices in the United States, the United Kingdom, India, Singapore, Indonesia, Vietnam, and Germany and serves clients in North America, Southeast Asia, Europe, and the Indian subcontinent.

Quality and patient capital allows us to focus on path-breaking R&D, helping us deliver exceptional long-term value to our customers, over incremental improvements. We will be recruiting more PhDs in our data science team and are looking to double our patents by 2022.

Nishith Rastogi, the CEO

It’s also expanding in the United States by hiring industry veterans such as Walter Heil, Senior Vice President, Business, and Michael D. Parmett, Vice President, Customer Success. Parmett previously worked at 3GTMS and Manhattan Associates, while Heil previously worked at Project44 and BluJay.

We are now looking to support our customers with a global footprint. Other than the geographies we are already present in, we are also investing heavily in Latin America and aggressively building our presence there.

Nishith Rastogi, the CEO

We’re excited to invest in Locus to enable logistics as a service and support their journey to become a global last-mile automation leader.

Varsha Tagare, managing director at Qualcomm Ventures, senior director at Qualcomm Technologies, Inc.,

For clients in industries such as eCommerce, retail, e-grocery, CPG/FMCG, home services, home deliveries, 3PL, transportation, and B2B distribution, Locus claims that its scalable solutions have saved $150 million in logistics costs, 70 million+ kilometers in distance traveled, and 17 million+ kilograms in GHG emissions.

Read more stories