The message from Andrew Grove, founder of Intel, has been my watchword for Locus. Locus was never meant to be a good company, not even a great one. Locus was intended to be perfect, which means that in this drive for perfection, we often forget to rejoice our achievements. Today as we secure 22M USD in our Series B funding from Falcon Edge, Tiger Global Management, Exfinity Technology Fund, and Blume Ventures Fund; I would like to take a moment and thank every person who has been a part of the Locus journey.
From writing code in an apartment, while working on a woman safety app, to building a team of 100+ innovators, in 3 continents who would take our operations across regions, we have come a long way. Over the past few years, we have served 40+ clients globally saving logistics cost at scale, increasing productivity and profitability for enterprises across multiple segments, reaching a peak scale of over 1M order transactions a day. Our operations span across the US, Mexico, Indonesia, Singapore, India, Australia, and the list is expanding rapidly. Without the guidance of our clients and efforts of the team, today would just not have been possible.
Back in 2015, when we started, logistics optimization was hardly a priority for enterprises. Home deliveries were still picking up, the premier subscriptions of e-commerce players were unheard of, and same day deliveries were a dream. From educating enterprises to working with them, Locus today partners with some of the biggest names in the market to solve their complex logistics issues. Today logistics for our customers is not a cost center but a profit driving exercise, with their distribution becoming a part of their competitive moat.
We are building technology to solve problems of the future making them obsolete today. Just like the deliveries are now based on time-slots than days, and supervised route optimization is changing to an autonomous function, Locus will continue to build tech that eradicates the existing problems and identifies new ones way before they can become a menace for our clients. Historically, we’ve spent disproportionately more on developing and building new products than most of our competitors, and that won’t stop any time soon. This funding will go straight into building solutions at a pace that the world is yet to see from us. Our customers would be the biggest beneficiaries as new features, and intellectual property would be added to our products, with increased velocity.
Our product applications like clubbing of forward and reverse logistics in a single route plan, dynamic journey plans for sales transformation, scheduled + on-demand dispatch planning and tracking via escalation management & intelligent alerts convey that Locus is on a path to automate every possible decision in the supply chain. We have no intention of slowing down. Our ability to solve problems in complex geographies like India and SEA has given us the confidence to strive towards leaping the home frontier. With the capital, Locus aims to identify new gaps in the logistics sector and fill them with our AI-based decision-making solutions. As we continue to expand our horizons, we will amplify our team size and continue to build market-leading IP.
Only the paranoid survive!
And even though we might have taken this moment to stop and smell the roses, tomorrow when the sun rises, we will be up and running again. As Robert Frost once wrote:
“The woods are lovely, dark and deep. But I have promises to keep, and miles to go before I sleep.”