FarEye raises $13M from Fundamentum Partnership, KB Global

Logistics software provider FarEye has raised $13 million as an extension to its Series D investment led by Nandan Nilekani-led The Fundamentum Partnership and KB Global Platform Fund. The Noida-based startup has raised a total of $37.5 million in the round. FarEye had earlier raised $24.5 million((around Rs 183.5 crore) led by Microsoft venture M12, with participation from Honeywell Ventures, among others.

Founded in 2013 by Kushal Nahata, Gaurav Srivastava, and Gautam Kumar, FarEye's logistics platform enables enterprises to operate, track, and optimise their logistics operations. It has over 150 global clients, including Walmart, DHL, Amway, and Domino's.

The partners including Eight Roads Ventures, Honeywell Ventures, and SAIF Partners were there in the deal. The investment will 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, faster, and more convenient delivery experiences," FarEye said in a statement.

We are excited to partner with FarEye as it paves the way for its enterprise customers, such as DHL and Walmart to gain flexibility as well as visibility in logistics by providing the easy-to-use platform to manage all moving parts," Chunsoo Kim, Managing Director (Head of Global Investment Group) at KB Investment, said.

We are seeing a surge in the need for real-time visibility in logistics for businesses to build customer-centric supply chains. With recently raised funds, we will continue to invest in the best talent in the Americas, Europe, and APAC to support our hyper-growth in these regions," FarEye CEO Kushal said.