Locus Enters Healthcare Services. Disrupts Medicine Delivery Starting With 1mg
Locus recently raised 2.75 million dollars in Series A round. 1mg has over 22 million dollars in funding from HBM Healthcare Investments, Intel Capital and Sequoia Capital among others. 1mg has been working with Locus for over 3 months now.
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Intelligent logistics automation platform, Locus is now making logistics more efficient for healthcare services startups like 1mg. Locus manages logistics for online pharmacy 1mg and has managed to affect fuel cost savings of up to 25 per cent for them.
Locus helps 1mg optimize their deliveries by enabling efficient automation & optimization using their route planning engine for orders, live tracking and visualization on the dashboard using Locus app. The average distance travelled per rider for every task completed was reduced by 50% by following the routes planned by Locus’ optimization engine.
1mg has been working with Locus for over 3 months now. Their transaction services in pharmacy exists in 14 cities and diagnostics in more than 20 cities.
Prashant Tandon, CEO and founder, 1mg, says, “We started using Locus services a few months ago and found it useful to manage our field operations. It helped us in creating transparency and managing our logistics field force better. Locus team was also very approachable and willing to help for our unique needs."
Sachin Kumar, AVP Operations, 1mg, says, “When we realized that we had almost no visibility in our logistics operations till the day end when delivery status was reported offline and manually by each team, we knew it was time to look for a technology solution. We chose to work with Locus because their solution was exactly solving our problems. Now we have real time tracking of executives and can plan the day better. In 2 months we were able to reduce our fuel cost by almost 25 percent and increased the efficiency by 15 percent. Apart from these improvements best thing I like working with Locus is their responsiveness. Always ready to put in extra effort to solve our problems."
Locus aims at reducing fuel consumption, achieving operational savings and contributing to a low-carbon economy. The routes that the Locus planning engine generates are the most optimized ones, which helps reduce the overall fuel consumption as the delivery personnel take the shortest possible routes to complete all tasks in a given time frame. The engine also aims at reducing the number of vehicles being used to make the deliveries by taking into consideration the maximum vehicle capacity.
Nishith Rastogi, cofounder and CEO, Locus, added, “We are glad to partner with 1mg to optimize their last mile delivery operations and bring about visibility in their day to day operations. The pharmaceutical sector stands to gain most from more efficient logistics because the service is urgent and impacts almost everybody. Along with the business benefits of consistency, efficiency and transparency in operations, there is a social benefit too. With every one liter of fuel saved, we prevent an addition of 2.3 kg of CO2 emission into our environment.”
Locus also provides technology and automation to at-home healthcare services for brands like Lenskart. Locus helps them in optimizing their scheduled appointments with the optometrists for eye check-ups at home.
Locus is currently automating Intra-city logistics for leading companies in India, including Urban Ladder, Delhivery, Quikr and Licious.
Locus is an advanced technology platform that provides automation and optimization in logistics operations through cutting edge algorithms. Locus platform solves several problems like Load Balancing, Route Optimization and planning and Container Utilization (3D packing). Locus works with brands including grocery, pharma, furniture, electronics and more and also with logistics companies.
Locus recently raised 2.75 million dollars in Series A round, led by Exfinity Venture Partners. Blume Ventures, BeeNext and Rajesh Ranavat,managing director of Li & Fung Capital along with existing seed investors who also participated in the round. Mr. Balakrishnan, ex-CFO of Infosys is Locus board.
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