FarEye, a logistics management software provider, on Wednesday said that it has raised $25 million in a series D funding round, led by Microsoft’s venture fund, M12, along 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, the Noida-based company provides predictive logistics software to enterprises to help them track and optimise their logistics operations. With a presence across 20 countries, FarEye’s clientele includes DHL, Amway, Dominos, Walmart, Johnson & Johnson, Tata Steel, and others. The company claims to serve more than 10 million transactions daily across the world on its SaaS platform.
“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 (Asia-Pacific), and the U.S.,” said Nahata, chief executive officer, FarEye.
Shweta Bhatia, partner, Eight Roads Ventures, pointed out that the global pandemic (Covid-19) has accelerated the need for enterprises to scale their supply chain operations efficiently to meet the rising share of online deliveries.