Tiger Global, Falcon Edge lead $22m round in Indian logistics startup Locus

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Logistics management software startup, Locus has raised $22 million in a Series B round led by Tiger Global Management and Falcon Edge Capital, the startup said on Monday. Previous investors Exfinity Venture Partners and Blume Ventures also took part in this round.

Mint first reported on 29 April that the New York-based investment firm is likely to invest in as many as five SaaS (software-as-a-service) companies in India in May including Locus, highlighting Tiger’s renewed interest in the Indian startup ecosystem, albeit on the software-as-a-service (SaaS) side this time.

Locus currently automates human decisions required to transport a package and aims to increase axes of efficiency, consistency, and transparency in operations. Its solutions include route optimization, real-time tracking of orders, analytics and automated shipment sorting. Locus last raised $4 million in June last year led by Rocketship.vc, Recruit Strategic Partners, pi Ventures, and Hemendra Kothari of DSP Group.

Tiger’s renewed interest has seen it invest in more than half a dozen business-to-business startups in the last six months, including an $89 million round in Ninjacart, B2B platform for farm produce. The company also led a $50 million round last week in Zenoti, provides software for salons and spa chains across 44 countries.

In the last six months, it has also invested in software startups such as Fyle, Facilio and CleverTap. SaaS firms generally provide software that is accessed online via a subscription, rather than bought and installed on individual computers.

These indicate a marked shift in Tiger’s approach, as it moves away from the consumer-centric approach of 2011 to 2015 when it invested in consumer internet firms such as Ola, ShopClues and Hike, apart from Flipkart.

“Locus provides autonomous supply chain optimization thus minimizing the dependency on human intelligence, built by an incredible team of PhDs & Engineers,” said Nishith Rastogi, co-founder and CEO, Locus.

“Our company is on an unprecedented path to automate every possible decision in the supply chain. The funding will act as a boost to our global expansion efforts as we amplify our team size specifically in North America and continue to build our IP (intellectual property),” he added.

Falcon Edge Capital, another New York-based fund, has shown more interest in India in recent times.

This article was first published on livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.