Startup Locus Raise $22 Million
Logistics startup Locus has raised $22 million in Series B funding to expand its operations in international markets. The startup was funded by Falcon Edge Capital and Tiger Global. Existing investors Exfinity Venture Partners and Blume Ventures also participated in this round. Locus has raised $29 million so far.
The startup works with companies that operate in FMCG, logistics, and e-commerce space. Some of its clients are Tata group of companies, Myntra, BigBasket, Lenskart and Bluedart. Nishith Rastogi, co-founder and CEO says that the raised funds would be used to develop products and expand Locus.
In India, the logistics market has been a lot more challenging. A lot of startups have been emerging in the recent years to tackle these problems. It seems that Tiger Global’s new strategy for the marker is quite pleasing. It has invested in companies like Flipkart, Ola, Ninjacart, Zenoti and participated in marketing service ClearTap’s $26 million round.