FarEye, a logistics management startup makes an impressive $3.5 m

FarEye, a logistics management startup makes an impressive $3.5 m

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FarEye CEO Kushal Nahata. Photo credit: FarEye.

FarEye is a Delhi based startup dealing with vehicle-tracking software. Its inception took place in 2013 by Gaurav Srivastava, Gautam Kumar and Kunal Nahata with an employee size of 30. The company has a vision to double the team strength for sales, delivery and product in the coming months. It raised growth funds worth 3.5 m U.S. Dollars, that is 20 Crore Rupees in a time period of 3 years from their Saif Partners in its Series A funding round. FarEye remarked that they would use these funds for expanding their business across other markets.

As it is a cloud-based platform, the companies are able to schedule and dispatch jobs, regulate execution and assess their performance in real time. Their esteemed clients are Blue Dart, Bajaj Capital, Hitachi, Sephora, Gojavas, Holisol, Safe Express, DTDC, Ecom Express and Zalora, estimating to about 75 clients globally.

The services are operational in India, South East Asia and Middle East at present. According to co-founder Kushal Nahata, due to exorbitant rates and inefficient operations, FarEye has a huge scope in the logistics industry worth 60 billion USD. They strive to fulfil their motto of streamlining logistics throughout the industry.

Their vision is to improve their product by the addition of advanced features in the coming year. Besides, they also have a long term goal to combine Internet of Things platforms and drones for easy delivery.

FarEye has made its place in the market by effective warehousing, first mile pick-ups, milk runs, hyperlocal solution, last mile delivery and reverse pick-ups. They are known as a reliable solution for end-to end mobility in the sector of logistics and for supply chain leaders, according to the company’s statement.

It is interesting to know that FarEye has made the first time job attempts successful by 22% and saved 2.3 man hours for each employee in a day.

Gautam Kumar remarked that they work on the belief that every client has his own business needs and a flexible customized solution is a must to meet the crucial challenges that they face in running their business. Their aim is to ensure prompt delivery on-time and satisfactory services to the end clients in the world of vanishing brand loyalty.

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