FarEye, a digital logistics platform to efficiently move goods is one of India’s fastest growing start-ups with a 280% increase in ARR year on year. Clocking triple-digit revenue growth since the past 3 years, FarEye is now targeting a 325% growth in revenue this fiscal. As enablers of logistics excellence, FarEye facilitates over 65 million transactions per day, enabling more than 150 enterprises across 20+ countries to achieve superior delivery experience using mobility, data analytics & automation.
FarEye empowers global leaders with predictive visibility and operational intelligence to achieve on-time deliveries at a reduced cost. In India, FarEye works with enterprises like Tata Steel, Hilti, JK Lakshmi, Blue Dart, Walmart, Future Supply Chain, and Amway among many others. Its predictive visibility platform has helped Tata Steel reduce pilferage and theft by 57%, increased ‘on-time in full’ deliveries for Hilti by 6%, increased the ‘delivery-in-first-attempt’ success rate for Blue Dart by 22%, and improved courier productivity for DHL eCommerce by 15%.
Over the last financial year, the company also grew its employee strength to 288. The notable headcount growth highlights the company’s ambitions to build valuable services, strengthen its presence and achieve newer levels of growth.
“FarEye has delivered a truly blockbuster performance with triple-digit revenue growth consecutively for the 3rd year. It has been an incredible year for us; we are growing rapidly and aim to reach 3X revenue in the coming year, with major customer acquisitions in India, US, and Europe. The logistics market is at the edge of disruption with technology building new level of optimizations and customer satisfaction. Enterprises have supply chain as one of the topmost functions for digitalisation and investments.” says Kushal Nahata, CEO & Co-founder, FarEye.
“Global logistics spending is set to soar to $10.6trn by 2020 with transportation accounting for the majority at 70%. Shippers are losing a lot of time, money and inventory due to unpredicted freight movement. We are constantly working towards empowering global leaders with predictive visibility and operational intelligence to achieve on-time deliveries at a reduced cost.” he adds.
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