Locofast

About Locofast

Founded in 2019 by serial entrepreneurs Deepak Wadhwa and Mohit Piplani, Locofast is a B2B platform designed to digitize the textile supply chain in India. The founders, who previously established the travel marketplace WeAreHolidays, leveraged their experience in building online marketplaces to address the fragmentation and technological lag within the textile sector.

Headquartered in New Delhi, the company operates as a "cloud textile factory," connecting textile suppliers, mills, and processing units with apparel and lifestyle brands. The platform serves small and medium-sized enterprises (SMEs), helping them source a wide range of fabrics and access services like knitting, weaving, dyeing, and printing. Locofast's business model aims to solve the dual challenges of inconsistent orders for suppliers and procurement inefficiencies for manufacturers by creating a transparent and efficient ecosystem. It provides a steady stream of orders for suppliers and ensures quality control and timely delivery for buyers, which include supply chain partners for major international brands like Zara, H&M, and Primark.

The platform's proprietary technology allows customers to track production from start to finish through an app, receive quality reports, and manage logistics. In March 2022, Locofast raised $15 million in a Series A funding round co-led by Stellaris Venture Partners and Chiratae Ventures, with participation from Axilor Ventures and several angel investors. This funding was intended to enhance technology, expand its operational reach within India, and launch new product categories.