- The Fundamentum Partnership & KB Global Platform Fund Invest In FarEye  

- FarEye accelerates its global expansion as enterprises move towards 
customer-centric supply chains

  
   FarEye, a leading logistics SaaS platform for predictive visibilityc[ 
https://www.getfareye.com/platform/visibility-eta?utm_source=PR&utm_medium=PR&utm_campaign=fundamentumrelease], 
today announced that it has raised additional USD 13 Mn as an extension to its 
Series D investment led by The Fundamentum Partnership, the growth-capital fund 
for mid-stage technology companies in India backed by Nandan Nilekani and 
Sanjeev Aggarwal and KB Global Platform Fund, one of the leading investment 
firm of Korea. 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. There 
is also an increased need for flexible supply chains to meet these demands.

    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 [ 
https://www.getfareye.com/?utm_source=PR&utm_medium=PR&utm_campaign=fundamentumrelease] 
digitizes the way enterprises dispatch, execute, track, and optimize the 
movement of goods, enabling enterprises to lower logistics costs while 
delighting end consumers. 

    "The support and trust of our investors, customers, and partners underpin 
our deep desire to make logistics better for brands, their customers, and the 
environment. 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. With a vision to 
make FarEye one of the most customer-centric organizations globally, we aim to 
make every delivery delightful for the consumers," said Kushal Nahata, CEO, 
FarEye.

    Commenting on the investment Sanjeev Aggarwal, Co-founder of Fundamentum, 
said, "Investment in the logistics space is essential for the economic growth 
of any nation. FarEye has captured the pulse of this industry and has all the 
ingredients to head towards global leadership. I believe in the founders and 
the team has the clarity of vision. We are excited to partner with FarEye in 
its journey to create a global technology leader in the logistics space."

    This is the second time this year that FarEye has been able to raise funds 
to support its hyper-growth in global markets, making it a total of USD 51 Mn 
investment so far. In April, FarEye had raised USD 24.5 Million in Series D [ 
https://www.getfareye.com/insights/storage/media-releases/April2020/8bVI29Uf5U2Tnt2VZjzt.pdf?utm_source=PR&utm_medium=PR&utm_campaign=fundamentumrelease] 
from M12 (Microsoft's venture fund) with participation from Eight Roads 
Ventures, Honeywell Ventures, and existing investor SAIF Partners.

    With a clear mandate to establish Singapore as their hub for international 
expansion, FarEye recently named Singapore-based ex-Blue Yonder Veteran Amit 
Bagga as its Chief Revenue Officer. His appointment comes as FarEye undertakes 
aggressive plans for global expansion. Bagga has established FarEye's field 
headquarters in Singapore with investments in sales, solutions, services, and 
customer success teams, and continues to accelerate investments in the 
company's expansion into Europe and the Americas.

    "Logistics is the backbone of any given economy, and yet it has been a 
difficult space to innovate.  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. The newly raised capital will allow the 
team to deliver additional value to its enterprise customers by bringing in 
more global talents who will ultimately contribute to the advancement of the 
platform's predictive capabilities and customer services. We look forward to 
FarEye's contribution to its enterprise customers around the globe both during 
and post the current pandemic as seamless logistics has never been more vital 
to their business. We have been deeply impressed with FarEye's response during 
the pandemic as a global leader in the logistics SaaS space," said Chunsoo Kim, 
Managing Director (Head of Global Investment Group) at KB Investment.


About FarEye- https://www.getfareye.com/


CONTACT: 
Ms. Komal Puri
komal.puri@getfareye.com 




Logo: https://mma.prnewswire.com/media/1231863/FarEye_Logo.jpg 


Source: FarEye