AI for Logistics
Updated: June 03, 2021
2021. Locus raises $50 million for its logistics management business
Locus, a startup that uses AI to help businesses map out their logistics, has raised $50 million Series C. Locus helps its clients automate their logistics workload — tasks such as planning, organizing, transporting and tracking of inventories, and finding the best path to reach a destination — that have traditionally required intensive human labor. Locus enters into categories where the cost of logistics is a big portion of cost of goods sold and where the profit margin is thin. At many distribution or e-commerce companies, the cost of logistics can be 40% of the good sold. This gives our clients a huge incentive to make some changes,” he said, adding that brands across the globe are increasingly beginning to explore ways to optimize their supply chain networks.