FarEye, a logistics SaaS platform, has secured $25 million in Series D funding. M12 led the round with participation from Eight Roads Ventures, Honeywell Ventures and SAIF Partners.
New Delhi, 15th April 2020: FarEye, a leading logistics SaaS platform, today announced a Series D investment of USD 25 million led by M12 (Microsoft’s venture fund) with participation from Eight Roads Ventures and Honeywell Ventures. Existing investor SAIF Partners also participated in the round.
Founded in 2013 by Kushal Nahata, Gaurav Srivastava and Gautam Kumar, FarEye’s predictive logistics platform enables enterprises to orchestrate, track, and optimize their logistics operations. FarEye empowers enterprises to win in this customer-centric era with exceptional delivery experience and efficient movement of goods for both B2C and B2B segments.
Today the company is present across 20 countries and has strong traction with more than 150 global Retailers, CPG companies and Logistics & Transportation providers including DHL, Amway, Dominos, Walmart, Johnson & Johnson and Hilti.
FarEye successfully handles more than 10 million transactions everyday across the globe on its platform and provides better decisioning based on billion plus data-points fed into its machine learning engine. The platform’s ability to seamlessly digitize 3PL carriers’ operations and quickly integrate with external systems for predictive visibility has gained immense traction globally, positioning it as a marquee top- tier provider.
“We deeply value the support and trust of our investors, customers and partners who have been instrumental to our success. I am delighted to see the impact we are making by optimizing multi-million deliveries on a daily basis. 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.” said Kushal Nahata, CEO, FarEye.
“From just-in-time logistics optimization to last-mile transportation notifications for end customers, supply chain visibility is a business imperative for organizations,” 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.”
To help ensure businesses can reach their end customers as the world grapples with the COVID-19 pandemic, the company is offering its product ‘Serve’ at a zero-fee to enable the seamless movement of groceries and essential goods.
Shweta Bhatia, Partner Eight Roads Ventures said, “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. We are impressed by Kushal and his team’s deep customer-first approach and are proud to support their category leading and comprehensive vision to continuously drive efficiencies and transform the end-user experience.”
“With supply chain and logistics networks becoming so critical in today’s environment, FarEye has proven to be a business-critical provider and enabler of delivery logistics. We strongly believe in the team and the FarEye platform and are excited to help accelerate their growth with our investment,” said Kamal Vasagiri, director of venture capital investments at Honeywell Ventures.
FarEye is a logistics SaaS platform for predictive visibility. It enables brands to orchestrate, track, and optimize their logistics operations. The leading machine-learning based platform is empowering global enterprises to shrink delivery time by up to 27%, increase courier productivity by up to 15%, eliminate risks by up to 57%, and achieve operational excellence. For more information visit www.getfareye.com
M12, Microsoft’s venture fund, invests in enterprise software companies in the Series A through C funding stages with a focus on big data & analytics, business SaaS, cloud infrastructure, machine learning & artificial intelligence, productivity, and security. As part of its value-add to portfolio companies, M12 offers unique access to strategic go-to-market resources and relationships globally. M12 has offices in San Francisco, Seattle, London, Tel Aviv, and Bengaluru. https://m12.vc
About Eight Roads Ventures:
Eight Roads Ventures invests in high-quality, high-growth companies in Asia, Europe, Israel and the US, with a focus on technology, healthcare and consumer. Eight Roads is committed to making the companies it invests in leaders in their industries through access to patient capital, a powerful network of resources and a team of investment professionals with a proven track record of success. Some of Eight Roads global tech investments include Appsflyer, Akulaku, BankBazaar, Chai Point, Cloudian, Decibel Insight, Icertis, EarlySalary, Gloat, Kyligence, Manthan Systems, MoEngage, Neo4J, Northern Arc Capital, Plaid, Red Points, StashAway, Shadowfax, Toppr, Whatfix, Wovn and Yappli. www.eightroads.com
About Honeywell Ventures:
Honeywell Ventures is the corporate venture arm of Honeywell. The firm seeks to invest in early stage, high growth companies operating in the internet of things, software, analytic, material science and advanced manufacturing sectors. For more information, visit https://www.honeywell.com/en-us/company/ventures.