In brief: GIC leads US$50M round in Locus; Co-Creation Fund to back startups solving social issues
GIC invests US$50M into Locus
Who is Locus: Locus is a US-based company that automates supply chain decisions. It uses deep machine learning and proprietary algorithms to offer smart supply chain solutions to business customers.
Other investors: Qualcomm Ventures, Tiger Global, Falcon Edge, Amrish Rau, CEO of Pine Labs, Kunal Shah, CEO of Cred, Raju Reddy, founder of Sierra Atlantic, and Deb Deep Sengupta, former President of SAP South Asia.
What the funds will be used for: To improve geographical reach, R&D, and expand its product line.
More on Locus: It claims that its scalable solutions have resulted in over US$150 million savings in logistics costs, 70 million kilometer reductions in distance traveled, and 17 million+ kilograms reduction in GHG emissions for clients across sectors like e-commerce, retail, e-grocery, CPG/FMCG, home services, home deliveries, 3PL, transportation, and B2B distribution.
Pakistan’s Tajir raises US$17M
Who is Tajir: A B2B marketplace for mom-and-pop stores.
Investors: Kleiner Perkins (lead), YC Continuity, AAVCF, Fatima Gobi Ventures, Flexport, Golden Gate Ventures, Liberty City Ventures, VentureSouq, CEO of Figma Dylan Field, CEO of Flexport Ryan Petersen.
More on Tajir: Co-founded by brothers Babar and Ismail Khan, Tajir helps mom and pop store owners maintain their inventory. Through the app, users can place orders for inventory, compare the prices of goods, and have access to 24X7 ordering with next-day deliveries.
Co-Creation Fund to back startups solving social issues
The story: Four Japanese companies — namely Japan Airport Terminal, Haneda Future Research Institute, Kiraboshi Bank, ICMG Group — have come together to launch ‘Co-Creation Fund’ to support startups aiming to solve social issues.
Fund size: US$20 million
More about the story: This fund aims to invest in six startups with minimum Series A funding.
In addition to venture investing, this fund will support value co-creation efforts between up-and-coming entrepreneurs and large corporations essential to sustaining social infrastructure.
WEH Ventures launches US$13M fund
More on this: The fund plans to invest in 18-20 early-stage startups and would seek to back them over multiple follow-on rounds.
The fund is sector-agnostic and invests in solutions that are built ground up for solving problems primarily targeting the Indian economy.
The company has already started making investments from its fund. Unbox Robotics, a warehouse automation startup, is one of the first beneficiaries. Others include a DTC brand, a community-first app, and a gaming studio.
Image Credit: Tajir
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,In brief: GIC leads US$50M round in Locus; Co-Creation Fund to back startups solving social issues | e27
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