Locus.sh is a Bengaluru based Logistics Management platform which was founded in May 2015. Locus.sh provides service to companies managing their workflow through technology such as intelligent dispatch solutions, insights, and analytics, tracking, etc. Nishith Rastogi- a BITS Pilani graduate and Geet Garg- an IIT graduate is the man behind the startup. Earlier they have worked with Amazon on machine learning technology.
The team thinks that supply chain, deliveries and logistics act as a significant role in business enterprises, adding an advantage to their service.
Their long term motive is to create high-end algorithms to serve businesses so companies would concentrate on offering delightful content-based experiences to customers.The company serves in sectors like FMCG, e-commerce, food delivery, and courier deliveries. Locus.sh allows users to build logistics tracking through their APIs else customizable system for large clients. Currently, the company has 25 clients making nearly 10,000 to 100,000 transactions daily using their platform.
Their client list includes four to five international customers with some Indian enterprises like Delhivery, Urban Ladder, and Lenskart. Depending on the scope and complexity of the service, the platform charges between rupees one to ten per transaction, which runs on pay per transaction model. The company has been working on ‘anomaly detection feature’ for logistics orders which is further associated with predictions and analytics, resulting in smart and informed decisions.
After one year the company has announced Series A funding of $2.75 million. With the participation of Exfinity Venture Partners along with BeeNext, Blume Ventures, Fung Capital’s MD Rajesh Ranawat, and other investors. The funds will be used in human resources recruitment and technology expansion. Balakrishnan V, Ex-CFO of Infosys and Chairman of Exfinity Venture Partners joined the company board by investing. He is looking forward to seeing the impact of technology and this new types of services in the logistics space industry, helping customers reduce their costs using smart and efficient services. Locus Solutions came up in support of incorrect addresses, complex networks, and many more anomalies. The most exciting thing they brought is that the startup can club orders in real- time, maximizing throughput.
The founders are planning to take this software into the hardware market in the form of small plugs as their proprietary custom widget. Their aim is to follow hardware oriented techniques, automating logistics lifecycle error free. The firm is also looking forward to raising their team members by ten new ones.
The Bottom Line
Market researcher Novonous performed a study, ‘Logistics Market in India 2015-2020’. According to which the logistics market is worth $300 billion and will be raised at a CAGR of 12.17 percent by 2020 is predicted. Technology and innovation are the critical assets which will bring the Logistics market into more consideration by its dependent industries. Therefore, bigger e- commerce players invested heavily in logistics and automation in 2015. For example, Flipkart partnered with logistics providers like MapMyIndia, Blackbuck, and Qikpod for its services. Snapdeal invested $20 billion in logistics firm GoJavas and $10 million amount has been invested in Loginext by Paytm. With more commitments by large e-commerce enterprises in the Logistics industry, this sector will remain in demand in 2016.