Bengaluru-based 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 round also saw the participation of existing investors Exfinity Venture Partners and Blume Ventures.
Locus uses artificial intelligence to offer services such as route optimization, real-time order tracking, dynamic sales plans and automated shipment sorting to enterprises. The company says it will utilise the capital to grow deeper into new markets by offering local customizations and hiring teams.
(picture source: PYMNTS.com)