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FarEye aims to solve the critical problems faced by businesses such as real-time coordination between employees on the go, job execution and customer requests by moving operations on a mobile

The FarEye founding team

FarEye, a Delhi-based SaaS mobility startup that helps organisations schedule jobs, track execution and evaluate performance in real time, has secured US$3.5 million (INR 20 crore INR) in Series A round of funding from SAIF Partners to foray into multiple domains.

The firm plans to integrate its solutions with IoT platforms and drones to enable automated delivery for enterprises and e-commerce businesses.

“We are in the path of revolutionising the entire delivery mechanism by creating the largest virtual network of delivery workforce across regions. Plagued by operational inefficiencies and high costs, the US$60,000 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.

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Established in 2013 by Nahata, Gaurav Srivastava and Gautam Kumar, FarEye aims to solve the critical problems faced by businesses — real-time coordination between employees on the go, job execution and customer requests — by moving operations on a mobile. Using its automation software, companies can schedule and dispatch jobs, monitor execution and analyse performance.

“It is a known fact that logistics is both the key to success and cause for failure. We understood that logistics segment required streamlining and restructuring to cater to the ever-growing e-commerce segment in India. Having foresight at that time, we decided to focus on logistics management with technology rather than logistics infrastructure. Business growth in the logistics sector would directly relate to improved service delivery and customer satisfaction across businesses,” said Srivastava.

The company has partnered with logistics & supply chain companies for warehousing, first-mile pick-up, on-demand/hyperlocal solution, last-mile delivery and reverse pick-ups.

It is currently working with 75 clients ranging from e-commerce solution providers like Ecom express, Gojavas, Holisol etc to the traditional firms like DTDC, Blue Dart, Safe Express, Bajaj Capital and Hitachi. It also works with companies such as Zalora, ACommerce, Sephora, MarkaVIP etc in Southeast Asia and the Middle East.

The post SAIF bet: FarEye raises US$3.5M Series A to introduce drones-based delivery to India appeared first on e27.

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