The company will use the funds to further invest in the platform’s predictive capabilities and accelerate growth in Europe, APAC & US. FarEye currently has 150+ trusted global clients like Walmart, DHL, Amway, and Dominos.
One of the leading logistics SaaS platform FarEye announced a Series D investment of $ 25 million led by M12 (Microsoft’s venture fund) with participation from Eight Roads Ventures and Honeywell Ventures. The company’s existing investor SAIF Partners also participated in the round.
FarEye was founded in 2013 by Kushal Nahata, Gaurav Srivastava, and Gautam Kumar and the predictive logistics platform enables enterprises to orchestrate, track, and optimize their logistics operations. FarEye offers exceptional delivery experience and efficient movement of goods for both B2C and B2B segments and empowers enterprises to win in this customer-centric era.
“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 & US.” said 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,” said Abhi Kumar, M12 India Head.
“FarEye stands out amongst other supply chain solutions for its orchestration and predictive intelligence capabilities, which equip enterprise customers to respond quickly and strategically in dynamic business environments.”
The company is offering its product ‘Serve’ at a zero-fee to enable the seamless movement of groceries and essential goods to help ensure businesses can reach their end customers as the world grapples with the COVID-19 pandemic.
Shweta Bhatia, Partner Eight Roads Ventures said, “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 have 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.”
“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. We strongly believe in the team and the FarEye’s platform and are excited to help accelerate their growth with our investment,” said Kamal Vasagiri, director of venture capital investments at Honeywell Ventures.
Today Fareye is present across 20 countries and has strong traction with more than 150 global Retailers, CPG companies, and Logistics & Transportation providers including DHL, Amway, Dominos, Walmart, Johnson & Johnson, and Hilti.
FarEye successfully handles more than 10 million transactions every day across the globe on its platform and provides better decisions 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.