Logistics SaaS platform FarEye has raised an additional $13 million (about Rs 97.3 crore) as an extension to its Series D investment from Nandan Nilekani-backed Fundamentum Partnership and KB Investment.
In April, FarEye had raised $24.5 million (around Rs 183.5 crore) in series D funding from Microsoft’s venture fund M12, SAIF Partners, Eight Roads Ventures, and Honeywell Ventures.
As per the startup, it plans to use the funding amount to accelerate its global expansion plans.
FarEye said in a statement,
“The investment will accelerate FarEye’s global expansion to address the steepening digital curve for logistics transformation. The need is being further accelerated by enterprises and end consumers demanding a high level of transparency, faster, and more convenient delivery experiences.”
Founded in 2013 by Gaurav Srivastava, Kushal Nahata, and Gautam Kumar, FarEye helps in managing, tracking & monitoring delivery logistics operations through its SaaS-based platform for carriers and shippers.
Talking about this funding round, FarEye CEO and Co-Founder, Kushal Nahata said,
“We are seeing a surge in the need for real-time visibility in logistics for businesses to build customer-centric supply chains. 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.”
Need legal assistance for your startup? Just contact us.