Bangalore-based logistics management platform Locus has raised pre-Series B funding of $4 Million from Rocketship.vc, Recruit Strategic Partners, pi Ventures and Hemendra Kothari of DSP Group, with participation from previous investors like Blume Ventures, Exfinity Venture Partners, BeeNext and growX ventures.
The company said that the fresh funds will be used to continue to build IP and for global expansion. Founded in 2015 by former Amazon executives Nishith Rastogi and Geet Garg, Locus provides logistics optimisation services to companies and enterprises across sectors like e-commerce, 3PL & transportation, FMCG and other verticals. Some of its customers include Urban Ladder, BigBasket, Myntra, Marico Tata Group of Companies, Droplet, Lenskart, etc. Locus currently works with clients in India, Singapore, Jakarta, Phoenix and Vancouver.
Locus previously raised Series A funding of $2.75 million in a round led by Exfinity Venture Partners with participation from Blume Ventures, BeeNext and Rajesh Ranavat, MD of Fung Capital, Bhupen Shah, Manish Singhal, and Amit Ranjan, in May 2016.
Before that, the startup raised angel funding of undisclosed amount from growX ventures and Manish Singhal Bhupen Shah, Sanjay Mehta and Ankit Pruthi, in July 2015.
The logistics segment is seeing a lot of traction, with companies catering to different needs in this segment. Some of the players are Cogoport, BlackBuck, Ecom Express, FarEye, Alibaba-backed XpressBees, Delhivery, Rivigo, Loadshare, NSE-listed Gati etc. Other than this, big e-commerce players have their own logistics solutions like Flipkart, has eKart, Amazon India has Amazon Transportation Services (ATS) etc.