Funding for growth obtained amidst high demand for home deliveries
Logistics SaaS platform FarEye recently announced a Series D investment of USD 25 million led by M12 (Microsoft’s venture fund) with participation from Eight Roads Ventures and Honeywell Ventures. Existing investor SAIF Partners also participated in the round.
Founded in 2013 by Kushal Nahata, Gaurav Srivastava and Gautam Kumar, FarEye’s predictive logistics platform enables enterprises to orchestrate, track, and optimize their logistics operations. FarEye empowers enterprises to win in this customer-centric era with exceptional delivery experience and efficient movement of goods for both B2C and B2B segments.
FarEye handles more than 10 million transactions everyday across the globe on its platform and provides ‘better-decisioning’ based on billion plus data-points fed into its machine learning engine. The platform’s ability to seamlessly digitize 3PL carriers’ operations and quickly integrate with external systems for predictive visibility has gained immense traction globally, positioning it as a marquee top-tier provider.
“We will use this investment to create greater value and improve the experience for our customers by enhancing the platform’s predictive capabilities, increasing platform partnerships, expanding into new markets and growing our teams in Europe, Asia Pacific and US,” commented Kushal Nahata, CEO, FarEye.
“From just-in-time logistics optimization to last-mile transportation notifications for end customers, supply chain visibility is a business imperative for organizations,” remarked Abhi Kumar, M12 India Head.
“FarEye’s highly configurable last-mile and long-haul logistics platform has been validated by leading global enterprises across the 3PL, retail and manufacturing categories,” noted Shweta Bhatia, Partner Eight Roads Ventures.
“With supply chain and logistics networks becoming so critical in today’s environment, FarEye has proven to be a business-critical provider and enabler of delivery logistics,” said Kamal Vasagiri, director of venture capital investments at Honeywell Ventures.
