Singapore’s GIC leads $50m round of Indian logistics management startup

Locus, a logistics management startup based in India and the US, has raised US$50 million in its latest round of funding.

More funding details

• Lead investor: GIC, Singapore’s sovereign wealth fund
• Returning investors: Tiger Global Management and Falcon Edge
• Other investors: Qualcomm Ventures, along with angel investors including Amrish Rau, CEO of Pine Labs; Kunal Shah, CEO of Cred; and Raju Reddy, founder of Sierra Atlantic.
• Stage: Series C

More company updates

• The new funds will be used to expand Locus’ reach and build its research and development team to boost its product line. The company has raised US$30 million in funding to date.
• Locus said it will recruit employees who have a doctorate in philosophy for its data science team. It is also looking to double its patents by 2022.
• The startup works with clients across North America, Southeast Asia, Europe, and India. It has offices in the US, UK, India, Singapore, Indonesia, Vietnam, and Germany.
• Locus says that its products have saved businesses over US$150 million in logistics costs, along with a reduction of 70 million kilometers in the distance traveled.
• It also said its solutions have cut over 17 million kilograms in greenhouse gas emissions for clients across sectors like ecommerce, retail, and e-grocery, among others.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.