Falcon Edge and Tiger Global bet $22 million in Locus

BENGALURU: Supply chain optimisation startup Locus has raised $22 million in fresh funding led by Falcon Edge Capital and Tiger Global Management, as it looks to expand its footprint further into the North American and Southeast Asian markets.

The Series-B funding also saw participation from existing investors Exfinity Venture Partners and Blume Ventures. The company plans to utilise the capital to grow deeper into new markets by offering customisations and hiring teams locally.

“The funding will act as a boost to our global expansion efforts as we amplify our team size specifically in North America and continue to build our IP,” said Locus CEO Nishith Rastogi.

Locus uses artificial intelligence to offer services such as route optimisation, real-time order tracking, dynamic sales plans and automated shipment sorting to enterprises.

“We believe the trillion-dollar global logistics market is ripe for disruption via technological change, particularly AI and machine learning-driven solutions,” said Navroz Udwadia, cofounder, Falcon Edge Capital.