Japan-based diversified consumer and business services provider Recruit Holdings Co Ltd has invested an undisclosed amount in US and Bangalore based logistics management startup Locus, a company statement said.
Recruit Holdings made the investment through its private equity arm and 100% investment subsidiary RSP India Fund, LLC, which was founded in 2015. The fund’s general partner is Recruit Strategic Partners.
This fund infusion is part of a pre-Series B round, which saw participation from existing investors Exfinity Venture Partners, Blume Ventures and BeeNext, a spokesperson from Locus said.
Locus will use the funds to expand its business through product development and customer acquisition, and to expand operations to Southeast Asia and North America, the spokesperson added.
Locus helps tech-based enterprises to manage their deliveries. It offers features like automated smart dispatches, tracking, fleet visualisation, proprietary geocoder and proprietary route deviation engine. The company offers the entire logistics technology stack in the form of a PAAS (platform as a service).
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