FarEye raises $ 3.5 mn from SAIF Partners

By: |
New Delhi | Updated: June 24, 2016 2:19:24 PM

FarEye, a logistics management software provider, today said it has raised $ 3.5 million (Rs 20 crore) from SAIF Partners.

fareye, fareye software company, Fareye software company news, SAIF Partners, SAIF Partners news, SAIF Partners latest newsThrough FarEye’s automation software, companies can schedule and dispatch jobs, monitor execution and analyse performance in real time. (FarEye)

FarEye, a logistics management software provider, today said it has raised $ 3.5 million (Rs 20 crore) from SAIF Partners.

The series A funding will be used for business expansion to other territories, FarEye said in a statement.

There is a strong road-map of product enhancement for next 12 months and new features will be added regularly, it added.

The company plans to integrate with IoT platforms and drones to enable automated delivery.

“We are profitable B2B startup and believe in organic growth. Plagued by operational inefficiencies and high costs, the $ 60,000 billion logistics industry provides a huge opportunity to FarEye. We are here to streamline logistics in all industry verticals,” FarEye co-founder Kushal Nahata said.

Established in 2013 by Kushal Nahata, Gaurav Srivastava and Gautam Kumar, FarEye aims to solve last mile delivery issues on a mobile platform.

Through FarEye’s automation software, companies can schedule and dispatch jobs, monitor execution and analyse performance in real time.

FarEye is headquartered in New Delhi and has over 75 clients like Ecom express, Gojavas, Holisol, DTDC, Blue Dart, Safe Express and Bajaj Capital.

Currently, it has a team of 30 and it plans to expand it to 60 in next few months across sales, delivery and product functions.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

FinancialExpress_1x1_Imp_Desktop