Logistics management startup, Locus.sh raised a fresh round of funding of $4 million from US-based investor Rocketship.vc and others including Recruit Strategic Partners, pi Ventures and Hemendra Kothari of DSP Group.
The round also consisted of existing investors, Blume Ventures, Exfinity Venture Partners, BeeNext and growX.
The company has stated that they will be using the fresh funds to help shape its product and to help the Bangalore-based startup expand globally.
Locus optimises logistics operations for companies across sectors like e-commerce, FMCG and more. They currently work with clients across India, Singapore, Jakarta, Phoenix and Vancouver. Some of their clients include the likes of Urban Ladder, 1mg, Quikr, Lenskart, Licious and conglomerates like Tata Group.
Founded in 2015, the startup is looking to solve any and everything related to inefficiencies in logistics. Their aim is to automate all human decisions involved in transporting a package from Point A to Point B. The company’s technology includes features like automated smart dispatches, tracking, fleet visualisation views and propriety route deviation.
The first round of Locus’ funding came in from a few angels including Amit Ranja, founder of slidehsare, and pi Ventures’ Manish Singhal among others. Later, in 2016, they announced their Series A round of funding of $2.75 million led by Exfinity Venture Partners along with Blume Ventures and BeeNext.
Nishith Rastogi, co-founder, Locus said, “Locus’ team is focused on building intellectual properties 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.”
The Bangalore-based logistics-technology startup has set a 20-year vision of looking to be involved in tracking 1% of the entire world’s transport movement.