AI for Logistics
Updated: July 02, 2021
2021. Fleet software startup LocoNav raises $37M
LocoNav, an India-based startup that is helping drivers and fleet owners in over two-dozen nations run their vehicles more efficiently and save money, has raised $37 million in a new financing round. Over half a million vehicle and fleet owners in 25 nations use LocoNav’s platform today, which uses AI to help them manage their fleet operations, keep a watch on performance, and improve efficiency. The startup’s platform delivers assistance and recommendations to drivers to make better choices. LocoNav also enables customers to track fuel usage, and any potential theft. Its platform supports over a thousand devices and sensors, enabling it to onboard new customers very quickly.
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.