Locus, an Indian startup that uses AI to help businesses map out their logistics, announced its recognition in Gartner’s ‘Hype Cycle for Transportation Industry, 2020’ as a Sample Vendor within the Last-Mile Delivery Solutions category.
“These solutions are adaptations of traditional routing and scheduling, wherein a route could be replanned and a dispatcher would control the process. Many of these solutions use AI and machine learning to speed up the optimisation process and predict occurrences and impacts based on real-time information,” said the leading research and advisory company in its report.
“The COVID-19 pandemic has made last-mile logistics all the more important. With increasing customer expectations, last-mile delivery technology will only become more critical for the success of companies, and in fact, will act as a key differentiator between brands,” said Nishith Rastogi, CEO, Locus. “We are really happy to be named as a Sample Vendor in Gartner’s Hype Cycle for Transportation Industry, 2020, and to see Last-Mile Delivery Solutions receive a ‘high’ benefit rating.”
Locus was also recently identified as a Representative Vendor in the Gartner ‘Market Guide for Vehicle Routing and Scheduling’ report.
The Locus platform uses deep machine learning and proprietary algorithms to offer smart logistics solutions like route optimisation, real-time tracking, insights and analytics, beat optimisation, efficient warehouse management, vehicle allocation and utilisation. Locus also helps companies optimise their end-to-end supply chain network with its strategic consulting offering.
Locus presently works with top clients across Southeast Asia, North America, Europe, and India. It has offices in the USA, India, Indonesia, and Vietnam. The top management of the company includes executives from Amazon Web Services (AWS), Barclays Capital, Google, and BlueDart (a DHL company), and data scientists with PhDs from the Carnegie Mellon University and the University of Illinois, among others.
Locus has so far raised $29 million from tier I investors like Tiger Global, Falcon Edge, Blume Ventures, Exfinity Venture Partners, growX ventures, to name a few.