The company was recognized as a 'Soonicorn' for its execution excellence and future growth potential
RIYADH, Saudi Arabia, Nov. 4, 2022 /PRNewswire/ -- Locus, a leading-edge technology company solving for excellence in Last-Mile logistics, has been named a Top Emerging Startup for Logistics Tech by Tracxn, a global platform for tracking startups and private companies. In the latest annual list, which identifies the most promising Logistics Tech startups globally, Locus was recognized as a Soonicorn, demonstrating its growth potential to become a Unicorn in the future.
"We feel humbled and proud to be chosen as one of the top logistics tech startups list by Tracxn," says Nishith Rastogi, Founder and CEO of Locus. "This recognition comes at a watershed moment in our growth journey, as we work towards making last-mile logistics an effortless and strategic differentiator for enterprises across the globe through our end-to-end real-world ready dispatch management solution."
The global logistics tech industry has over 12,000 startups comprising companies providing various products and services like storage of goods or software solutions for managing and optimizing overall logistics operations. Tracxn's ratings are based on a detailed analysis conducted by their internal sector specialist team coupled with a combination of multiple publicly available signals such as market size, investment by marquee investors, execution excellence, and future growth prospects.
Locus is a leading-edge technology company solving one of the most challenging global supply chain problems: Last-Mile logistics. Locus' order-to-delivery dispatch management platform helps enterprises transform their Last-Mile logistics operations from cost centers to revenue generators through advanced optimization algorithms and intuitive workflow automation that equip businesses with the tools needed to maximize efficiency while delighting customers.
Founded in 2015 and backed by GIC Singapore, Tiger Global, Qualcomm Ventures, and Falcon Edge, Locus has helped a wide range of customers globally across industries – including Unilever, Nestle, Bukalapak, The Tata Group, BlueDart, and more – execute 650 million deliveries across 30+ countries across North America, Europe, Southeast Asia, the Middle East, ANZ, and the Indian subcontinent. Its technology has also helped save $200 million in transit costs, offsetting 70 million kilograms in CO2 emissions while maintaining a 99.5% SLA adherence ratio.