Locus raises $50M to build the operating system of logistics
Company’s proprietary geocoding engines help with remote delivery planning 3 minutes read Locus raises $50 million to continue building patent technology. (Photo: Denis.Vostrikov/Shutterstock)
Bengaluru, India-based Locus, a supply chain technology platform powered by artificial intelligence, announced on Wednesday that it has raised $50 million in a Series C round led by GIC, Singapore’s sovereign wealth fund, with participation from Qualcomm Ventures and existing investors Tiger Global Management and Falcon Edge.
Past angel investors participated in the round as well, including Amish Rau, CEO of Pine Labs; Kunal Shah, CEO of Cred; Raju Reddy, founder of Sierra Atlantic; and Deb Deep Sengupta, former president and managing director of SAP South Asia.
Synopsis
Locus, a SaaS-based logistics startup, will use the funding from investors GIC, Qualcomm Ventures, Tiger Global and Falcon Edge to fuel its expansion, and research and development.
ETtech
Founded in 2015 by Nishith Rastogi and Geet Garg, Locus uses machine learning and proprietary algorithms to offer supply-chain solutions to customers. (Photo: Locus.sh website)
Mumbai:Locus, a business-to-business (B2B) logistics optimisation startup, has raised $50 million in a Series-C funding round led by Singapore’s sovereign wealth fund GIC.
Qualcomm Ventures and existing investors
Tiger Global and
Falcon Edge also participated in the round, as did angel investors Amrish Rau (CEO of Pine Labs) Kunal Shah (CEO of Cred) Raju Reddy (founder of Sierra Atlantic) and Deb Deep Sengupta (former president and managing director, SAP South Asia).
Locus, a startup that uses AI to help businesses map out their logistics, said on Wednesday it has raised $50 million in a new financing round as it looks to expand its presence. The new round, a Series C, was led by Singapore’s sovereign wealth fund GIC. Qualcomm Ventures and existing investors Tiger Global Management […]
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