Logistics software program-as-a-service (SaaS) begin-up FarEye has raised $one hundred million in funding led by new investors TCV and Dragoneer Investment Group.
The investment, component of the company’s Series E economic round, also saw participation from current backers Eight Road Ventures, Fundamentum and Honeywell.
As component of the transaction, Gopi Vaddi, common companion at TCV will join FarEye’s board of directors. Founded in 2013 by Kushal Nahata, Gaurav Srivastava and Gautam Kumar, FarEye is a logistics and provide chain management platform that aids enterprises across sectors ranging from grocery to third-party logistics providers to fulfil deliveries at lowered expense and provide a improved customer expertise.
The Noida-based firm caters to enterprises across more than 30 nations and counts Walmart, Amway and Domino’s amongst its customers.
The firm stated that brands use its services to launch several delivery models like exact same-day, next-day, on-demand, and acurbside from several inventory places. The firm claims to procedure more than one hundred million transactions every single month.
The fresh capital will be used to allow brands to provide Amazon Prime-like delivery experiences. Besides, component of the funds will be deployed to make on its software program platform capabilities, drive European and North American expansion and employ new talents, the firm stated in a statement.
In August last year, the firm had raised $13 million as an extension to its series D round.