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.

“We are excited to partner with FarEye as it paves the way for its enterprise customers such as DHL and Walmart to gain flexibility as well as visibility in logistics by providing the easy-to-use platform to manage all moving parts.”

said Chunsoo Kim, MD and head of the global investment group at KB Investment

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

Announced Date Transaction Name Number of Investors Money Raised Lead Investors 
Aug 21, 2020   Series D – FarEye  2$13MFundamentum, KB Global Platform Fund
Apr 15, 2020   Series D – FarEye  4$25MM12
Feb 8, 2018   Series C – FarEye  1₹610MDeutsche Post
Dec 8, 2016   Non Equity Assistance – FarEye  
Jun 23, 2016   Series A – FarEye  1₹200MSAIF Partners
Sep 11, 2014   Angel Round – FarEye  4₹20M
Source: crunchbase

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.

“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.”

said Shweta Bhatia, Partner, Eight Roads Ventures

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

  • Photo of Kushal NahataKushal Nahata, CEO
  • Photo of Gautam KumarGautam Kumar, Co-Founder & COO
  • Photo of Gaurav SrivastavaGaurav Srivastava, CTO
  • Photo of Gaurav GuptaGaurav Gupta, VP Technology
  • Photo of Suryansh JalanSuryansh Jalan, President
  • Photo of Rohan JaiswalRohan Jaiswal. Business Development Manager
  • Photo of Leena PatilLeena Patil, Director APAC

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