FarEye

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FarEye
Private
IndustrySoftware
Founded2013; 10 years ago (2013)
FounderKushal Nahata
Gautam Kumar
Gaurav Srivastava
HeadquartersNoida,
UP
,
India
Number of locations
5 (2021)
Area served
30
Key people
Kushal Nahata (CEO)
Gautam Kumar (COO)
Gaurav Srivastava (CTO)
Suvrat Joshi (CPO)
Amit Bagga (CRO)
SubsidiariesPY Technology pvt. Ltd
Dipper Technologies Private Limited
Websitewww.getfareye.com

FarEye is a low-code, Intelligent Delivery Management Platform that makes the delivery experience better for  everyone.[1]

The SaaS platform helps shippers and carriers to do deliveries at  reduced cost and provide superior customer experience.[2]

Most recently, FarEye has been recognized by Gartner in the Magic Quadrant for real-time visibility platforms 2021 along with 17 other mentions over the past 3 years. The company os trusted by over 150 customers across 30 countries.

FarEye client list includes Hilti, UPS, Gordon Foods, and Zalora to name a few. Founded in 2013 by Kushal Nahata, Gautam Kumar, and Gaurav Srivastava, the company is headquartered in India with offices in Chicago (US), Dubai (UAE), Singapore and London (UK).[3]

History

FarEye was founded in 2013 by the alumni of Kalinga Institute of Industrial Technology - Kushal Nahata, Gautam Kumar, and Gaurav Srivastava.[4] It was established to revolutionize the delivery experience for businesses across Retailers, Manufacturers and 3PL/Transportation companies.  Initially, the founders created a GPS tracking system for vehicles that enabled owners to track their cars in real-time. They also developed an application by the name ‘Suraksha’ for alerting people about LPG leakage that was acknowledged by Bharat Petroleum.

They then pivoted into creating a predictive visibility platform for carriers and shippers by leveraging the already existing tracking, tracing and alerting capabilities. By adding more sophisticated technologies like dynamic routing, loop optimization and more, the platform evolved into one with powerful machine-learning based low-code platform that made deliveries better for everyone. The low-code workflows based approach delivered enterprises with a critical competitive advantage in terms of being able to go-to-market faster. Today, it is a Gartner-recognized intelligent delivery management platform that provides orchestration, visibility and a superior customer experience.

Since its inception, FarEye has reduced the delivery time by up to 27%, increased courier productivity by up to 15% and eliminated risks by up to 57%.[5]

FarEye acquired Dipper in November 2018. In 2021 it acqui-hired logistics technology start-up PY Technology.[6]

FarEye's intelligent delivery management platform is helping enterprises reduce tonnes of carbon emissions each year - with the possibility to save more as the number of deliveries increase. The optimization of routes results in a reduction of miles driven annually, reducing carbon dioxide emissions per year. The reduction of emissions significantly impacts a business's journey to becoming a more sustainable enterprise.[7]

Funding

The company raised $317K million in a Series A round of funding from Indian Angel Network.[8]

in 2014. Then in 2016 the company raised a Series B funding of $3.1 million from SAIF partners. In 2018 the company received $9.8 million in Series C financing as a strategic investment from 23i. FarEye added another $37.5 million in Series D funding in 2021 from M12, Honeywell Venture Capital ,Eight Road Ventures.[1][9]

Fundamentum Partnership and KB Global Platform.[10]

Product and services

FarEye has three products/solutions -

Intelligent Delivery Orchestration

With this solution, FarEye offers efficient first, mid and last mile through app-based driver management, roster planning, dynamic routing, cross docking, rate card management and control tower. Its low-code/no-code platform ensures rapid go-live and helps scale businesses.

Intelligent Delivery Visibility

With this solution FarEye allows the users to gain real-time, multi-modal visibility into in-transit shipments with pre-configured alerts and exceptions to enable timely action. It also ensures easy collaboration among all delivery stakeholders through pre-built TMS & carrier integrations. This is done with the help of machine-learning, IoT-driven asset tracking & control towers for tracking and tracing to achieve carrier, yard & predictive ETA visibility.

Intelligent Delivery Experience

With this solution FarEye helps the user in carrier selection and performance management through a control tower. It offers track and trace solutions for carriers/3PLs and customers with features such as live tracking, 1-way messaging with drivers, setting delivery preferences, rescheduling and slot-based deliveries/returns.[11]

Awards and recognition

  • FarEye was recognized by Gartner as a Challenger in the 2021 Magic Quadrant for Real-Time Transportation Visibility Platforms.
  • FarEye is recognized in Inbound Logistics' 2021 Top 100 Logistics IT Providers
  • FarEye was ranked on Deloitte Technology Fast 50 India for four consecutive years
  • World Post & Parcel Awards
  • Top Project Execution' Honour At The GEC Awards 2017
  • Digital Disruptor 2017, IDC Digital Transformation Awards
  • FarEye Recognized as One of India's Best Workplaces by Great Place to Work® in 2019 and 2020
  • Gartner Mentions FarEye in Gartner’s Market Guide for Vehicle Routing & Scheduling
  • FarEye Recognized in the 2021 Gartner Magic Quadrant for Real-time Transportation Visibility Platforms
  • FarEye has been mentioned as a sample vendor in Gartner’s Hype Cycle report on Multi-enterprise Solutions under the Global Logistics Visibility Technology which was published in December 2018.
  • FarEye has been mentioned by Gartner in 4 other researches for its real-time visibility platform

In the media

              

References

  1. 1.0 1.1 "Honeywell partners with FarEye to expand Supply Chain Software Suite". Express Computer. 2021-03-26. Retrieved 2021-05-07.
  2. FarEye. "FarEye Recognized in the 2021 Gartner Magic Quadrant for Real-time Transportation Visibility Platforms". www.prnewswire.com. Retrieved 2021-05-07.
  3. "Delivery Management Software Market is Staring at a Promising Future Owing to High Demand for 2021 – 2027 | GetSwift, CarPal, Zippykind, Robotic Wares Private Limited (FarEye) – Clark County Blog". Retrieved 2021-05-07.
  4. Rebello, Maleeva. "Pandemic helped FarEye COO reignite his love for cooking". The Economic Times. Retrieved 2021-05-07.
  5. "Back to Basics: Improve Your Customer Experience while Reducing Costs". www.supplychainbrain.com. Retrieved 2021-05-07.
  6. "Last Mile Delivery Software Market Size (2021-2028) | Top Manufacturers – DESCARTES, FarEye, Track-POD, LogiNext, Zippykind, CubeXie Software". The Courier. Retrieved 2021-05-07.
  7. Mathur, Nandita (2021-03-05). "FarEye acqui-hires logistics technology startup PY Technology". mint. Retrieved 2021-05-07.
  8. "2021 Top 100 Logistics IT Providers - Inbound Logistics". www.inboundlogistics.com. Retrieved 2021-05-07.
  9. "India's FarEye raises $25M to grow its logistics SaaS startup in international markets". TechCrunch. Retrieved 2021-05-07.
  10. "Delivery Management Software Market Key drivers and restraints, regional outlook, end user applicants, industry insights and forecast year 2021-2027 |, GetSwift, CarPal, Zippykind, Robotic Wares Private Limited (FarEye) – Good News Gum". Retrieved 2021-05-07.
  11. Sarkar, Brinda. "FarEye announces first ever Esop liquidity programme". The Economic Times. Retrieved 2021-05-07.

External links