Logistics software company FarEye has raised $13 million (about Rs 97.3 crore) in funding from Nandan Nilekani-backed Fundamentum Partnership and KB Investment.
The latest fundraise is an extension to the company’s Series D round of funding. In April, FarEye had raised $24.5 million (around Rs 183.5 crore) in funding from Microsoft’s venture fund M12, Eight Roads Ventures, Honeywell Ventures, and SAIF Partners.
So far, the company has received $51 million (about Rs 382 crore) in investment.
“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,” FarEye said in a statement on Friday.
Founded in 2013 by Kushal Nahata, Gaurav Srivastava, and Gautam Kumar, FarEye’s logistics platform enables enterprises to operate, track, and optimise their logistics operations. It has over 150 global clients, including Walmart, DHL, Amway, and Domino’s.
“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,” FarEye CEO Kushal said.
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