Logistics management software FarEye has secured Rs 98.48 crore in its extended Series D funding led by Sanjeev Aggarwal and Nandan Nilekani’s Fundamentum Partnership Fund.
The company’s Series D round kicked off in April this year when it raked in $25 million, primarily from Microsoft’s venture fund M12. So far, the company has secured around $51 million across four institutional rounds.
The Fundamentum Partnership Fund-I infused Rs 75.75 crore followed by KB Global Platform Fund, which poured in Rs 22.72 crore.
The brainchild of Kushal Nahata, Gaurav Srivastava, and Gautam Kumar, FarEye’s software solutions manage the supply chain and delivery aspects of large logistics platforms across manufacturing, courier, e-commerce, food and grocery sectors.
“With recently raised funds, we will continue to invest in the best talent in the Americas, Europe, and APAC to support our hyper-growth in these regions. With a vision to make FarEye one of the most customer-centric organizations globally, we aim to make every delivery delightful for the consumers,” said Kushal Nahata, CEO, FarEye, in a statement.
FedEx, DHL India, Emirate posts, Domino’s, Amway, Walmart, Honda, Tata, and Hitachi are its customers 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 execute more than 10 million transactions per day. It directly competes with Mumbai-based LogiNext. Early this year, LogiNext had bagged a $39 million Series B round from Tiger Global and Steadview.
