FarEye raises $25 million funding, to accelerate growth in US, Europe

FarEye raises $25 million funding, to accelerate growth in US, Europe thumbnail
Logistics startup FarEye said on April 15 it raised $25 million (around Rs 190 crore) in a Series D round led by Microsoft’s venture capital fund M12, with participation from Eight Roads Ventures and Honeywell Ventures.Existing investor SAIF Partners, a VC firm, also participated in the round.“We will use this investment to create greater value…

Logistics startup FarEye said on April 15 it raised $25 million (around Rs 190 crore) in a Series D round led by Microsoft’s venture capital fund M12, with participation from Eight Roads Ventures and Honeywell Ventures.Existing investor SAIF Partners, a VC firm, also participated in the round.“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,” CEO Kushal Nahata said.Moneycontrol first reported on March 1 that Microsoft, Honeywell and Eight Roads were in talks to invest in FarEye.Founded by Nahata, Gaurav Kumar and Gaurav Srivastava in 2013, FarEye helps logistics firms manage supply chains and deliveries with its software-as-a-service (SaaS) business model.It gives organisations real-time visibility and predictive intelligence to ensure on-time deliveries using mobility, data analytics and automation. Thus, it helps firms track, collaborate, predict and optimise the movement of goods.“From just-in-time logistics optimisation to last-mile transportation notifications for end customers, supply chain visibility is a business imperative for organisations,” 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,” he added.Time to show-off your poker skills and win Rs.25 lakhs with no investment. Register Now!
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