Locus raised $50 Mn led by GIC, Qualcomm Ventures, and existing investors
Jun 3, 2021
What's the news? Logistics startup Locus has raised $50 Mn in series C funding led by Singapore’s sovereign wealth fund GIC, Qualcomm Ventures, and existing investors Tiger Global and Falcon Edge and a bunch of 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 & MD, SAP South Asia - have also invested
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Locus uses machine learning and proprietary algorithms to offer supply chain solutions to customers. The company says its solutions have resulted in $150 Mn savings in logistics costs, 70 million-km reductions in distance traveled, and 17 million kilograms reduction in GHG emissions for clients in e-commerce, retail, e-grocery, FMCG, home services, and a host of others.