Locus a Bangalore based logistics management startup has raised $2.75 million in Series A funding from Exfinity Partners. Other investors who participated in the funding round were Rajesh Ranavat, MD of Fung Capital, BeeNext and Blume Ventures. The funding will be used to expand the team and technology up gradation. Balakrishnan V, Chairman at Exfinity Venture Partners and former CFO at Infosys is now on the board of Locus.
Locus was founded by Nishith Rastogi and Geet Garg, they both worked at Amazon. It is based on simplifying logistics. It enables enterprises to manage their delivery with features such as tracking, automated smart dispatches, fleet visualisation, proprietary route deviation engine and proprietary geocoder.
Balakrishnan V one of the board member of Locus said
“The Locus solution is built by factoring real world fuzziness to support iffy networks, inaccurate addresses and hundreds of other exceptional scenarios. It can also club orders in real-time re-routing to maximize throughput.”
Nishith Rastogi Co-founder and CEO of Locus, said
“Supply chain, delivery and logistics are critical challenges and key to competitive advantage for enterprises. We at Locus have created high-end algorithms & systems, unlike any existing solution, to take care of this problem, so businesses can focus on offering their customers a delightful experience.”
Locus also created RideSafe a consumer safety app, powered by Realtime Route Deviation Detection engine. The startup also helps enterprises in e-commerce, courier, food delivery, FMCG and other verticals and local companies. It helps firms with track, dispatch and managing their delivery agents. Delhivery, Urban Ladder and FreshMenu are some of their customers. Locus claims to have multiple customers such as Laundry pickup service, food-delivery services and e-commerce players.