Locus gets $22 million funding support

Artificial Intelligence backed supply chain solution provider Locus (https://www.locus.sh/) has secured $22 million in (Series B) funding. The fresh funding has primarily been infused by Falcon Edge Capital & Tiger Global Management while existing investors Exfinity Venture Partners and Blume Ventures also participated in the second round. Locus’ premier logistics optimization solutions include route optimization, real-time tracking of orders, insights and analytics, dynamic sales journey plans, and automated shipment sorting. Locus is focussed on solving complex real-world logistics problems like increasing First Attempt Delivery Rate (FADR) for e-commerce companies, sales…

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Future Supply Chain reports strong revenue growth

The supply chain arm of Kishore Biyani led Future Group – Future Supply Chain Solutions – has reported strong revenue growth in fiscal 2018-19. The company registered a hefty 33.8 percent growth in its revenue which shot up to Rs 1,112 crore at the end of March. In a press statement, the company maintained adding 12 new clients to its contract logistics portfolio during the year. These include a leading tyres brand and a leading lubricant manufacturer during the quarter ended March 31, 2019. Year 2018-19 also saw major addition…

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Commercial vehicle sales dip in the negative territory

The current fiscal hasn’t exactly begun on a positive note for the automobile industry in terms of sales growth. According to apex industry body SIAM, the industry produced a total of 2,363,376 vehicles including passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadricycle in April 2019 as against 2,646,257 in April 2018, registering a double-digit decline of (-) 10.69 percent over the same month last year. The overall Commercial Vehicles segment registered a decline of (-) 5.98 percent in April 2019 as compared to the same month last year.…

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