Logistics Startup FarEye Receives 9.5 Million USD Series C Round Investment from DHL Group
FarEye , a logistics management startup based in New Delhi , received an investment of 9.5 million USD from DHL Group . With this investment, the startup aims to increase its fields of activity and its global market dominance. FarEye currently provides end-to-end mobility solutions to more than 100 logistics and supply chain companies in 20 countries.
According to its official website, FarEye processes more than 500 million shipments each year. It improves the operations of logistics companies by 25%, reduces fuel expenditures by 28% and increases customer visits by 66%.
Among FarEye ‘s clients are companies such as Ecom Express, Gojavas, Holisol, DTDC, Blue Dart, Safexpress, Bajaj Capital, Hitachi . exists. FarEye optimizes logistics operations for companies such as Zalora, ACommerce, Sephora and MarkaVIP in Southeast Asia and the Middle East.
FarEye has recently launched its package merchandising technology called Drop Pick , which enables customers to send and deliver partial loads via a mobile app with the lowest infrastructure cost.
Talking about the company’s future plans, FarEye co-founder and CEO Kushal Nahata in his recent interview; “We plan to expand our solutions so that manufacturers can gain traceability for the products they ship. There is a lot of demand for traceability of a shipper working with third party logistics (3PL) and I think our solution will help them do just that. We are a profitable B2B startup and we believe in organic growth. Our vision is to create a global technology company that can survive for decades. Our aim is to facilitate logistics operations in all industry sectors. We are on a path that will revolutionize the entire shipping mechanism by establishing the largest virtual delivery network among the regions.” says.