Logistics management startup FarEye raises $3.5m

FarEye allows businesses to track their fleet. Photo credit: Brando.n

Delhi-based startup FarEye, which makes vehicle-tracking software, raised series A funding worth US$3.5 million from investors Saif Partners, the company said today.

The funds raised are “purely growth funds” and will be used to expand its business to new markets, FarEye said in a statement.

The cloud-based platform helps companies schedule and dispatch jobs, monitor execution, and analyze performance in real time. Clients include Blue Dart, Bajaj Capital, Hitachi, Sephora, and Zalora.

FarEye CEO Kushal Nahata. Photo credit: FarEye.

It currently services companies in India, Southeast Asia, and the Middle East.

“Plagued by operational inefficiencies and high costs, the US$60 billion logistics industry provides a huge opportunity to FarEye. We are here to streamline logistics in all the industry verticals,” said co-founder Kushal Nahata.

FarEye was founded in 2013 and currently has 30 employees. It plans to expand the team for
sales, delivery, and product, doubling its employee count in the next few months.