FarEye raises $3.5 mn from Saif Partners

A logistics management software, FarEye aims to solve the complicated last mile delivery issues on a mobile platform

FarEye, a leading logistics management software, has raised $3.5 million (Rs 20 crore) as growth funds from Saif Partners and completed its Series A round of funding.

Established in 2013 by Gautam Kumar, Gaurav Srivastava and

Kushal Nahata, FarEye aims to solve the complicated last mile delivery issues on a mobile platform. It is designed to tackle the critical issues faced by any business - real time coordination between employees on the go, job execution and customer requests; by moving operations on to a mobile platform.

The funds raised are purely growth funds which will be used for expansion of business to other territories. FarEye has drawn a strong road-map of product enhancement for next 12 months by adding new features regularly. They plan to integrate with IoT (internet of things) platforms and drones to enable automated delivery.

Through FarEye's automation software, companies can schedule and dispatch jobs, monitor execution and analyze performance, all in real time, thereby making enterprises more effective and streamlined.

With successful use cases for warehousing, first mile pick-up, milk runs, on-demand/hyperlocal solution, last mile delivery and reverse pick-ups (90-min and non-time bound) FarEye has become the trusted end-to-end mobility solution for logistics & supply chain leaders, the company said in a statement. On an average FarEye has been able to increase first time successful job attempts by 22 per cent and save 2.3 man -hours per employee per day, it said.

"We don't believe 'one solution fits all' mantra - we believe that each client has unique requirements and should be provided with a tailor - made solution to address critical operational challenges. In today's digital age where brand loyalty is redundant, we ensure that our customers deliver on-time commitment and provide exemplary services to their end customer", said Gautam Kumar, co-founder, FarEye.

New Delhi based FarEye has over 75 clients ranging from the exclusive e-commerce solution providers like Ecom express, Gojavas, Holisol to the traditional behemoths like DTDC, Blue Dart, Safe Express, Bajaj Capital, Hitachi. Globally, FarEye has been able to leave its mark by optimizing and automating logistics operations for companies like Zalora, ACommerce, Sephora, MarkaVIP in South East Asia and Middle East.

Currently, it has a team of 30 and they plan to expand the team for sales, delivery and product and reach a number of 60 in next few months.