Locus, the India-based logistics automation platform developer backed by human resources provider Recruit, has landed $22m in series B funding.
The capital was supplied by hedge fund managers Falcon Edge Capital and Tiger Global Management both took part in the round, as did venture capital fund Exfinity Venture Partners and VC firm Blume Ventures.
Founded in 2015, Locus operates an artificial intelligence-based platform that is used by companies and enterprises in the e-commerce, food delivery and consumer goods sectors to automate and optimise their logistics operations.
The software provides users with real-time tracking, insights and analytics, sales plans, warehouse management and vehicle allocation tools. Proceeds from the round will fund product development and an international expansion that has already taken in the US and Southeast Asia.
Locus collected $4m in pre-series B funding from Recruit Strategic Partners, an investment vehicle for Recruit, as well as Rocketship.VC, Pi Ventures, Hemendra Kothari, Blume Ventures, Exfinity Venture Partners, BeeNext and GrowX Ventures in 2018.
Exfinity had led a $2.75m round for the company in series A round in 2016, investing alongside BeeNext, Fund Capital and Rajesh Ranavat. It had received an undisclosed amount of seed capital from GrowX Ventures and assorted angel investors the previous year.