Locus, a logistics management firm with offices in India and the United States, has secured $50 million in its most recent round of investment.

More funding details

• Lead investor: GIC, Singapore’s sovereign wealth fund
• Returning investors: Tiger Global Management and Falcon Edge
• Other investors: Qualcomm Ventures, along with angel investors including Amrish Rau, CEO of Pine Labs; Kunal Shah, CEO of Cred; and Raju Reddy, founder of Sierra Atlantic.
• Stage: Series C

More company updates

• The fresh funding will be utilized to broaden Locus' reach and strengthen its research and development staff in order to extend its product line. To far, the firm has garnered $30 million in investment.
• Locus stated that it will hire people with a degree in philosophy for its data science division. It also intends to increase its patent portfolio by 2022.
  The company has clientele in North America, Southeast Asia, Europe, and India. It has offices in the United States, the United Kingdom, India, Singapore, Indonesia, Vietnam, and Germany.
• Locus claims that its solutions have saved businesses more than US$150 million in logistical expenditures, as well as reduced travel distance by 70 million kilometers.
• It also stated that its solutions had reduced greenhouse gas emissions by over 17 million kg for clients in industries such as ecommerce, retail, and e-grocery, among others.