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Home / Companies / Start-ups /  Locus raises $50 million in Series C funding led by GIC

Supply chain automation platform, Locus, on Wednesday said that it has raised $50 million as a part of its Series C funding led by Singapore’s sovereign wealth fund, GIC.

Other investors which participated as a part of this round include - Qualcomm Ventures LLC along with existing investors Tiger Global and Falcon Edge.

Angel investors including Amrish Rau, chief executive officer (CEO), Pine Labs; Kunal Shah, founder of Cred; Raju Reddy, founder of Sierra Atlantic, and Deb Deep Sengupta, former president, SAP South Asia, also participated in the round.

According to the company, it will majorly use the funds for improving geographical reach and building its research and development (R&D) team to expand the product line.

The company had earlier raised $30 million across multiple rounds of fundraising.

“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," said Nishith Rastogi, CEO, Locus.

Locus uses deep machine learning and proprietary algorithms to offer smart supply chain solutions to customers. Its smart supply chain solutions aim to provide end-to-end visibility and enable enterprises to enhance their operational efficiency by reining costs, streamlining the customer experience.

“Locus’ smart product suite is optimizing supply chain efficiencies by using machine learning to deliver real-time tracking and insights for the last mile fulfillment. 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," said Varsha Tagare, senior director, Qualcomm Technologies, Inc., and managing director at Qualcomm Ventures.

Locus works with clientele across North America, Southeast Asia, Europe, and the Indian subcontinent. It has offices in the USA, the UK, India, Singapore, Indonesia, Vietnam, and Germany.

It services clients across sectors of e-commerce, retail, e-grocery,fast moving consumer goods (FMCG), home services, home deliveries, third-party logistics, transportation, and business distribution.

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