EP47: {Nishith Rastogi, Co-Founder of Locus}
Nishith is a BITS Grad and was an engineer at Amazon where he met his co-founder Geet, an IIT grad. They set out to launch a chat network that morphed into what is today Locus.
Locus is a tool that plugs into the supply chain of an enterprise and starts automating all human decisions in the process; they automate route planning, traffic management, address correction, network planning, etc.. Locus is backed by some stellar investors and also service some of the top CPG companies in the world. Locus has become so integral to the operations of their clients that they had been offered hard cash by those who wanted to ensure Locus survived when COVID19 struck. Hope you enjoy my super intriguing session with Nishith.
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About Locus:
The Locus platform uses deep machine learning and proprietary algorithms to offer smart logistics solutions like route optimization, real-time tracking, insights and analytics, beat optimization, efficient warehouse management, vehicle allocation and utilization. Locus also helps companies optimize their end-to-end supply chain network with its strategic consulting offering. Locus works with top clients across Southeast Asia, North America, Europe, and India, with offices in the USA, India, Indonesia, and Vietnam.
The company has so far raised $29 million from Tier-1 investors including Tiger Global, Falcon Edge, Blume Ventures, Exfinity Venture Partners & GrowX ventures.
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Timelines:
00:00 - Introduction
05:45 - Finding the path to Locus
11:28 - Creating decision making systems for Big Basket
13:45 - Learning from Partners while building for them
18:02 - Complexity between geography & business types
24:21 - Pricing based on Total Cost of Ownership
27:55 - Building & Selling Enterprise SaaS
32:45 - Build vs Buy decision
35:06 - Challenges building logistics SaaS
38:15 - Having Falcon & Tiger as part of the journey
41:50 - BITS vs IIT & hiring
45:50 - 100M ARR