Logistics management software FarEye has secured $25 million in a Series D funding round led by Microsoft’s venture fund M12. Eight Roads Ventures, Honeywell Ventures, and existing investor- SAIF Partners also participated in it.
The latest capital in the Delhi-based company has been infused after two year of Rs 61.5 crore Series C round from Deutsche Post DHL Group in February 2018. Before this, the company had also raised $3.5 million in a Series A round from SAIF Partners in 2016.
Following the latest investment, the firm would be looking to enhance the platform’s predictive capabilities and partnerships. It is also eyeing expansion into the new markets along with growing its teams in Europe, APAC, and US, said the company in an ET report.
So far, the company has secured around $40 million across several funding rounds.
The brainchild of Kushal Nahata, Gaurav Srivastava and Gautam Kumar, FarEye’s software solutions manage supply chain and delivery aspects of large logistics platforms including Blue Dart, DTDC, and several others.The company works for various industries comprising manufacturing, courier, e-commerce, food and grocery.
FarEye’s clientele base also includes the likes of FedEx, DHL India, Zalora, Walmart India, Amway India, Hitachi and 100 other large organisations in over 20 countries. It also counts Ecom express and Gojavas in e-commerce focused logistics.
At present, the seven year-old firm claims to have over 150 clients in 20+ countries executing more than 10 million transactions per day.
Aiming to contain Covid-19, FarEye, being a delivery logistics enabler, has also recently extended its services to the organizations making home delivery of essential items.
The company has been working towards increasing its coverage and deliveries through intelligent routing and it provides a smartphone app for drivers to ensure real-time communication with customers.
