FarEye provides a logistics management SaaS platform that orchestrates, tracks and optimizes supply-chain operations from first-mile seller pickups to last-mile delivery. Its flagship platform delivers end-to-end visibility, low-code configuration, route optimization and operational cost reductions to improve customer experience. The startup serves over 150 e-commerce and delivery companies globally, processes more than 100 million transactions per month, and has over two million vehicles and 25,000 drivers on its platform. The firm has clients in the U.S., Europe and Singapore, with Singapore already contributing more than half of its revenues. FarEye recently hired senior executives including a new CRO and CPO, says it plans to expand its team and is open to acquiring smaller firms in international markets. The company has seen demand accelerate during the COVID-19 pandemic as retailers and FMCG brands move to digitize and optimize logistics operations. FarEye is a Noida-based logistics SaaS provider that helps companies orchestrate, track and optimize their logistics and delivery operations. Its platform uses AI to parse more than a billion data points to optimize last-mile and long-haul deliveries, routing, bundling, and workforce allocation. More than 150 e-commerce and delivery companies globally use FarEye, and it already has clients in the U.S., Europe and Singapore. The company has fine-tuned its algorithm over the past year to offer a full suite of services and saw accelerated demand during the COVID-19 pandemic as online orders rose. The fresh capital will be used to scale operations ahead of India’s festive season and to support international expansion. Co-founder and CEO Kushal Nahata describes the product’s real-time decisioning across variables such as courier availability, route optimization and order bundling. FarEye provides a configurable logistics platform that uses AI to parse more than a billion data points to optimize routing, bundling, workforce allocation and delivery visibility. The company has fine-tuned its algorithm over the past year to handle both last-mile and long-haul deliveries. It serves customers across transportation, retail and FMCG, with clients in 20 nations including Walmart, FedEx, DHL, Amway, Domino’s, Bluedart, Future Group and J&J. FarEye employs about 350 people and processes more than 10 million transactions a day; the high transaction volume improves its predictive models. The startup said it has been profitable from day one and is focused on growth rather than an IPO. It plans to use the new capital to improve predictive technology and expand its footprint in the United States, Europe and the Asia‑Pacific region, and has made its Serve service free for over a year to support essential deliveries during the pandemic. FarEye is a Delhi-based provider of digital logistics solutions. The company counts Hitachi and logistics firm Blue Dart among its clients. According to the startup's regulatory filings, FarEye raised ₹61.5 crore in a Series C financing. The firm issued 73,632 Series C compulsory convertible preference shares to Singapore-based 23i Private Limited as part of the transaction. The investment was led by Dietmar Nienstedt and involved Germany-based Deutsche Post DHL Group. Prior financings include ₹22 crore from SAIF Partners and ₹2 crore from Indian Angel Network. FarEye offers a mobile-first SaaS platform that schedules and dispatches jobs, monitors execution in real time, and provides analytics, routing, live tracking, ePOD capture and capacity planning. The product targets last-mile delivery inefficiencies and supports features such as one-touch assist, geo-coordinates, ETA to customers and built-in mobile device security. The company says it serves over 75 clients, including e-commerce and traditional logistics firms, and counts global customers primarily in Southeast Asia and the Middle East. FarEye reports it is a profitable B2B business and currently employs about 30 people. The startup plans to double headcount with hires in sales, delivery and product and to use proceeds to expand into additional territories. It is also planning integrations with IoT platforms and drone technology to enable automated delivery.

Total raised

$151M

Funding rounds

5

Latest round

Series E

Latest activity

May 2021