About Locofast
Locofast is a company based in Delhi (India) founded in 2019 by Deepak Wadhwa and Mohit Piplani.. Locofast has raised $16.8 million across 3 funding rounds from investors including BlackSoil, Stellaris Venture Partners and Axilor Ventures. The company has 75 employees as of April 05, 2024. Locofast offers products and services including Textile Manufacturing and Factory Automation.
- Headquarter Delhi, India
- Employees 75 as on 05 Apr, 2024
- Founders Deepak Wadhwa, Mohit Piplani
- Stage Minicorn
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Sectors
Retail
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Locofast Online Services Private Limited
- Date of Incorporation 25 Mar, 2019
- Jurisdiction New Delhi, Delhi, India
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Annual Revenue
$9.6 M (USD)89.01as on Mar 31, 2023
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Net Profit
$-1.13 M (USD)-47.76as on Mar 31, 2023
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EBITDA
$-1.53 M (USD)-75.9as on Mar 31, 2023
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Total Equity Funding
$16.8 M (USD)
in 3 rounds
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Latest Funding Round
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Investors
BlackSoil
& 15 more
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Employee Count
75
as on Apr 05, 2024
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Products & Services of Locofast
Locofast offers a comprehensive portfolio of products and services, including Textile Manufacturing and Factory Automation. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Cloud-based textile production is offered for industrial applications
Automation services for textile factories are provided to optimize operations
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Funding Insights of Locofast
Locofast has successfully raised a total of $16.8M across 3 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Last Round
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First Round
First Round
(28 Dec 2019)
- Investors Count 16
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2022 | Amount | Debt – Conventional - Locofast | Valuation |
investors |
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| Oct, 2021 | Amount | Series A - Locofast | Valuation | Stellaris Venture Partners , Chiratae Ventures | |
| Dec, 2019 | Amount | Seed - Locofast | Valuation | Chiratae Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Locofast
Locofast has secured backing from 16 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include BlackSoil, Stellaris Venture Partners and Axilor Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture debt is provided to growth-stage companies for business scaling.
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Founded Year | Domain | Location | |
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Venture capital firm investing in early-stage startups across fintech, software, and other sectors.
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Founded Year | Domain | Location | |
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Venture capital fund focused on seed-stage startups
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Locofast
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Locofast
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Locofast Comparisons
Competitors of Locofast
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Locofast
When was Locofast founded?
Locofast was founded in 2019.
Where is Locofast located?
Locofast is headquartered in Delhi, India. It is registered at Delhi, Delhi, India.
Who is the current CEO of Locofast?
Deepak Wadhwa is the current CEO of Locofast. They have also founded this company.
Is Locofast a funded company?
Locofast is a funded company, having raised a total of $16.8M across 3 funding rounds to date. The company's 1st funding round was a Seed of $1.8M, raised on Dec 28, 2019.
How many employees does Locofast have?
As of Apr 05, 2024, the latest employee count at Locofast is 75.
What is the annual revenue of Locofast?
Annual revenue of Locofast is $9.6M as on Mar 31, 2023.
What does Locofast do?
Locofast was founded in 2019 and is based in Delhi, India. A digital platform is operated to facilitate B2B procurement in the textile sector. Businesses are connected with manufacturers and suppliers for sourcing fabric and textile products. Streamlined ordering processes are supported, along with pricing transparency and vendor coordination. Operations focus on reliable supply chain management within the Indian textile industry.
What products or services does Locofast offer?
Locofast offers Textile Manufacturing and Factory Automation.
Who are Locofast's investors?
Locofast has 16 investors. Key investors include BlackSoil, Stellaris Venture Partners, Axilor Ventures, Stride Ventures, and Chiratae Ventures.
What is Locofast's valuation?
The valuation of Locofast is $5.09M as of Dec 2019.