FarEye accelerates global expansion with USD 37.5m in funding
FarEye has raised additional USD 13 Mn as an extension to its Series D investment led by The Fundamentum Partnership and Korean investment firm, KB Global Platform Fund. This is the second time this year that FarEye has been able to raise funds to support its growth in global markets, making it a total of USD 51M investment so far.
The current 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. There is also an increased need for flexible supply chains to meet these demands.
In a statement, the company spokesperson, Kushal Nahata, CEO, FarEye, commented that the investment will help them 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. We are seeing a surge in the need for real-time visibility in logistics for businesses.”
FarEye works with its enterprise customers to provide higher control on their supply chains and offer a superior delivery experience to their end customers. The company’s technology platform digitizes the way enterprises dispatch, execute, track, and optimize the movement of goods, enabling enterprises to lower logistics costs while delighting end consumers.