Logistics startup Locus designates $4-M for ESOP buyback

Logistics startup Locus has designated USD 4 million for its ESOP buyback from employees. The development follows Locus' USD 50 million Series C funding in June led by GIC with participation from Qualcomm Ventures and existing investors Tiger Global and Falcon Edge. Locus offers a technology platform that uses machine learning and proprietary algorithms to automate complex supply chain decisions. Currently, it has clients across North America, Europe, Southeast Asia, Middle East, ANZ, and the Indian Subcontinent.