FarEye, a leading logistics SaaS platform, today announced a $25 million Series D round led by M12 (Microsoft’s venture fund) and co-led by our India Ventures team 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 logistic 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.
Today the company is present across 20 countries and has strong traction with more than 150 global retailers and logistics & transportation providers including DHL, Amway, Dominos, Walmart, J&J and Hilti.
“We deeply value the support and trust of our investors, customers and partners who have been instrumental to our success. I am delighted to see the impact we are making by optimizing multi-million deliveries on a daily basis. 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, APAC and the US,” said Kushal Nahata, CEO, FarEye.
To help ensure businesses can reach their end customers as the world grapples with the COVID-19 pandemic, the company is offering its product ‘Serve’ at a zero-fee to enable the seamless movement of groceries and essential goods.
Shweta Bhatia, Partner at Eight Roads Ventures commented: “The global pandemic has accelerated the need for enterprises to scale their supply chain operations efficiently to meet the rising share of online deliveries. 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. We are impressed by Kushal and his team’s deep customer-first approach and are proud to support their category leading and comprehensive vision to continuously drive efficiencies and transform the end-user experience.”
More details can be found in the press coverage here.