Locus, a startup that uses AI to help businesses map out their logistics, said on Wednesday it has raised $50 million in a new financing round as it looks to expand its presence.
The new round, a Series C, was led by Singapore’s sovereign wealth fund GIC. Qualcomm Ventures and existing investors Tiger Global Management and Falcon Edge also participated in the round, which brings the startup’s to-date raise to $79 million. The new round valued the startup, which was founded in India, at about $300 million, said a person familiar with the matter.
Angel investors Amrish Rau (CEO of Pine Labs), Kunal Shah (CEO of CRED), Raju Reddy (founder of Sierra Atlantic), and Deb Deep Sengupta (former president and MD of SAP in South Asia) also participated in the round.
Locus helps its clients automate their logistics workload — tasks such as planning, organizing, transporting and tracking of inventories, and…