Locus to invest €2 million in Europe to enable smart and carbon-conscious logistics
Oct 07, 2020, 10:00 ET
After its success across North America, Southeast Asia, and the Indian subcontinent, Locus is now looking to offer its smart logistics solutions to customers in Europe
SAN FRANCISCO, Oct. 7, 2020 /PRNewswire/ -- Locus, a global B2B Software-as-a-Service (SaaS) company that automates human decisions in logistics, announced that it is investing €2 million in Europe for product and business development. The company's smart logistics solutions will help reduce carbon emissions and increase operational efficiency.
Locus uses deep machine learning and proprietary algorithms to offer smart logistics solutions like route optimization, real-time tracking, insights and analytics, beat optimization, and vehicle allocation and utilization. Locus also helps companies optimize their end-to-end supply chain network with its strategic consulting offering.
"Due to the COVID-19 pandemic, supply chains in Europe have become more dynamic than ever before and different legs of the supply chain have become more interconnected. Companies need high-frequency automated decision making to efficiently fulfill such dynamic demand," said Nishith Rastogi, Chief Executive Officer, Locus. "I have shifted my base to London from India as Europe is going to be a major focus for us, and we are investing €2 million to bring our smart logistics solutions to the market. For example, with Locus, you can deliver e-commerce packages with 20% lesser carbon emissions. I am really excited about the impact we can create here."
The company presently works with top clients across Southeast Asia, North America, Europe, and the Indian Subcontinent. The company's top management includes executives from Amazon Web Services (AWS), Barclays Capital, Google, and BlueDart (a DHL company), and data scientists with PhDs from Carnegie Mellon University and the University of Illinois, among others.
Locus has raised $29 million from tier-1 investors like Falcon Edge, Tiger Global, Blume Ventures, Exfinity Venture Partners, & growX ventures.
"Globally, there is a massive spurt in e-commerce and omnichannel experience. The COVID-19 pandemic has only accelerated it. It is no different in Europe. A decision-making platform like Locus can add immense value to companies that are looking for logistics solutions to bring in operational flexibility and enhance customer delight. Moreover, Locus's solutions will aid companies in reducing their carbon footprint. Locus's cutting-edge technology solutions are truly geography-agnostic. We are looking to make a real difference in Europe," said Krishna Khandelwal, Chief Business Officer, Locus.
Gartner recently recognized Locus as a Sample Vendor within the Last-Mile Delivery Solutions category in its "Hype Cycle for Transportation Industry, 20201". Previously, it was identified as a Representative Vendor in the Gartner "Market Guide for Vehicle Routing and Scheduling" report.2
1Gartner, "Hype Cycle for Transportation Industry, 2020," Ivar Berntz, Venecia Liu, Thierry Kuperman Le Bihan, Pedro Pacheco, 13 August 2020.
2Gartner, "Market Guide for Vehicle Routing and Scheduling," Oscar Sanchez Duran, Bart De Muynck, 23 June 2020.
About Locus
Locus is a deep technology platform to automate logistics decisions, providing total operational flexibility & end-customer delight.
The platform uses deep machine learning and proprietary algorithms to offer smart logistics solutions to customers. Locus powers more than two million deliveries daily across Southeast Asia, the Indian Subcontinent, Europe, and North America. Visit Locus to know more.
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SOURCE Locus
