FarEye, a logistics SaaS platform, has raised an additional USD 13 million as an extension to its Series D investment led by The Fundamentum Partnership, an India-based growth-capital fund.
The investment is expected to accelerate FarEye’s global expansion to address the steepening digital curve for logistics transformation. The need is being further accelerated by enterprises and end consumers demanding a high level of transparency and more convenient delivery experiences. There is also an increased need for flexible supply chains to meet these demands.
FarEye works with its enterprise customers to provide higher control on their supply chains and offer the superior delivery experience to their end customers. The company’s technology platform digitises the way enterprises dispatch, execute, track, and optimise the movement of goods, enabling enterprises to lower logistics costs while delighting end consumers.
This is the second time in 2020 that FarEye has been able to raise funds to support its growth in global markets, making it a total of USD 51 million investment so far. In April 2020, FarEye had raised USD 24.5 million in Series D from M12 (Microsoft’s venture fund) with participation from Eight Roads Ventures, Honeywell Ventures, and existing investor SAIF Partners.
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