Logistics SaaS platform FarEye, added another $13 million to its Series D to close at $37.5 million for the round. Nandan Nilekani’s Fundamentum Partnership and KB Investment led this round.
Since its formation in 2013, the New Delhi-based company has raised a total of $51 million in funding. It will be utilising the fresh fund to further enhance its platform’s predictive capabilities and bring more clients onboard. The company will hire more talent and expand into other geographies including the US, Europe, APAC region.
Founded by Kushal Nahata, Gaurav Srivastava and Gautam Kumar, FarEye’s predictive logistics platform enables enterprises to orchestrate, track, and optimise their logistics operations. It empowers enterprises with exceptional delivery experience and efficient movement of goods for both B2C and B2B segments.
Funding raised by FarEye over time
Rise in logistics post Covid-19 pandemic
There has been a huge demand in online deliveries post the Covid-19 pandemic. This has led to the need for technology to solve the logistics and supply chain issues. This helps companies to have more transparency in their operations and save costs.
Even FarEye CEO Kushal Nahata said that grocery companies are adopting technology very fast. More businesses are trying to engage remotely due to the pandemic, which is productive for their business.
Along with edtech, fintech and e-commerce, logistics has also emerged as a favorite among investors. The rise in e-commerce will definitely require the use of technology for better logistics operations. Amazon recently claimed to have made over 200 crorepatis, highlighting the demand in online deliveries. India’s largest logistic company Delhivery has also partnered with Volvo Trucks for ensuring speedy delivery of products due to the rising demand.
FarEye has a very dynamic team
- Kushal Nahata, CEO
- Gautam Kumar, Co-Founder & COO
- Gaurav Srivastava, CTO
- Gaurav Gupta, VP Technology
- Suryansh Jalan, President
- Rohan Jaiswal. Business Development Manager
- Leena Patil, Director APAC