Business

Nilekani-backed fund, Korean firm pump Rs 97 crore in logistics start-up

Logistics management startup FarEye on Friday said it has raised an additional $13 million (approximately Rs 97.4 crore) as an extension to its Series D investment led by Nandan Nilekani-backed Fundamentum Partnership and Korean firm KB Global Platform Fund.

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Updated:22nd Aug, 2020 at 1:14 AM

New Delhi

In April, the Noida-based firm had raised $24.5 million in Series D from Microsoft’s venture fund M12, with participation from Eight Roads Ventures, Honeywell Ventures, and existing investor SAIF Partners.

FarEye said the new investment will accelerate its global expansion. “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,” Kushal Nahata, CEO, FarEye, said in a statement.

“With a vision to make FarEye one of the most customer-centric organizations globally, we aim to make every delivery delightful for the consumers.” FarEye works with its enterprise customers to provide higher control on their supply chains. With the new funding, FarEye has raised a total of $51 million investment this year so far.

Nilekani-backed fund, Korean firm pump Rs 97 crore in logistics start-up

Logistics management startup FarEye on Friday said it has raised an additional $13 million (approximately Rs 97.4 crore) as an extension to its Series D investment led by Nandan Nilekani-backed Fundamentum Partnership and Korean firm KB Global Platform Fund.

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