July 07, 2016: Indian ecommerce logistics startup FarEye has acquired $3.5 million in funding from SAIF Partners. The company acts as a software platform that essentially sits between e-commerce firms and their logistics and fulfillment partners. That’s the high-level premise, but FarEye does a lot more than that, so co-founder and CEO Kushal Nahata told TechCrunch in an interview.
“Global logistics is changing now, e-commerce has disrupted the industry and changed things [while] mobile penetration increasing means expectations of consumers have shifted,” Nahata, who started FarEye with Gautam Kumar (COO) and Gaurav Srivastava (CTO) in January 2013, said.
FarEye, which Nahata said has been “profitable since day one,” can help its logistics and commerce customers with warehousing, first mile pickups, on-demand and hyperlocal logistics, last-mile and more. In additional to managing and optimising delivery fleets — it claims its customers increase their first-time deliver efforts by 22 percent and save 2.3 man hours per staffer per day — FarEye includes analytics that can predict the best locations for a hub, optimal transportation types, and forward-looking business and logistics forecasts.