Microsoft invests in a Noida startup that has been enabling deliveries during lockdown
- The startup raised $25 million in a round that was led by
Microsoftwith participation from Eight Roads Ventures and Honeywell Ventures.
- Fareye, founded in 2013, is a predictive
logisticsplatform that enables enterprises to orchestrate, track, and optimize logistics operations.
- The Noida-based company has seen a surge of activities during the
coronaviruslockdown. It is providing its solution FarEye SERVE, free of cost.
“From just-in-time logistics optimization to last-mile transportation notifications for end customers, supply chain visibility is a business imperative for organizations. FarEye stands out amongst other supply chain solutions for its orchestration and predictive intelligence capabilities, which equip enterprise customers to respond quickly and strategically in dynamic business environments,” said Abhi Kumar, M12 India Head.
Fareye, founded in 2013, is a predictive logistics platform that enables enterprises to orchestrate, track, and optimize their logistics operations.
The Noida-based company has seen a surge of activities during the coronavirus lockdown. It is providing its solution FarEye SERVE, free of cost, to enable enterprises with home deliveries of daily essential items - like groceries, food, medicines until June 30, 2020.
It also enables deliveries to hospitals, along with food and medicine to NGOs. The delivery of supplies to frontline workers will be enabled till 30 September 2020.
“We will use this investment to create greater value and improve the experience for our customers by enhancing the platform’s predictive capabilities, increasing platform partnerships, expanding into new markets and growing our teams in Europe, APAC & US,” said Kushal Nahata, CEO, FarEye.
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