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Start-up FarEye raises $3.5 million

In September 2014, FarEye had raised $500,000 in angel funding from the Indian Angel Network.

In September 2014, FarEye had raised $500,000 in angel funding from the Indian Angel Network.

Mumbai: Delhi-based RoboticWares Pvt. Ltd, maker of FarEye logistics management software, on Thursday said it has raised $3.5 million in Series A funding from SAIF Partners.

FarEye aims to solve last-mile delivery issues on a mobile platform by helping companies schedule and dispatch jobs, monitor execution and analyse performance in real time.

The company said it will use the money to expand its business to more cities and double its 30-member team.

“On an average, FarEye has been able to increase first-time successful job attempts by 22% and save 2.3 man-hours per employee per day,” the company said in a statement.

In September 2014, the company had raised $500,000 in angel funding from the Indian Angel Network.

RoboticWares works with over 75 clients such as Ecom Express, Gojavas, DTDC, Blue Dart and Safe Express, among others. The company was founded in 2013 by Kushal Nahata, Gaurav Srivastava and Gautam Kumar.

“We are profitable B2B (business to business) start-up and believe in organic growth… Plagued by operational inefficiencies and high costs, the logistics industry provides a huge opportunity to FarEye. We are here to streamline logistics in all the industry verticals,” said Nahata.

[“Source-Livemint”]

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