FarEye Archives - Media Bulletins Today News Bulletin in English

(L to R) - Gautam Kumar, Jignesh Vasani, Kushal Nahata

FarEye Acqui-hires Logistics Technology Start-up PY Technology

Mar 5, 2021 by Neel Achary 0 Comments #FarEye

Mumbai: Low-code intelligent delivery management SaaS platform, FarEye announced that it has acqui-hired the logistics technology startup PY Technologies in a bid to scale customer implementations as well as incubate new ideas. The startup, earlier known as PRTouch, was founded by Jignesh Vasani in 2012. He will be joining FarEye as VP, professional services.

Vasani is an entrepreneur and a leader with over 20 years of experience in building blocks aiming towards solving real-life problems. He has a proven track record of growing business across industries including Logistics, Education, IT, and Finance. He has hands-on experience in building new-age technology products such as Deep Learning, Machine Learning, and Blockchain.

On the acqui-hiring, Kushal Nahata, CEO and Co-founder FarEye said, “I would like to welcome Jignesh and his team on behalf of all of us in this exciting journey to empower brands and carriers globally to deliver better. Jignesh’s skills and experience would strengthen the services and engineering teams and increase value for our customers. Together we are aiming to drive innovation in the industry by solving the complex challenges that cost the supply chain and logistics industry trillions of dollars globally.”

Commenting on this partnership, Jignesh Vasani, VP, FarEye, added, “Friends for many years now, Kushal and I have only discussed logistics, for as long as I can remember, its problems and how we can create an impact in the market together. Our passion for the industry will enable us in spearheading FarEye in the right direction at an even greater speed. I and the team are looking forward to working in collaboration with FarEye for a fruitful association.”

Increase in online orders and brands building up direct-to-customer channels is accelerating demand that will drive FarEye’s projected growth of 2.4x in FY20-21, with the United States being the fastest growing market for the company. FarEye has launched many new processes internally and has hired industry stalwarts in its technology leadership team to support its growth momentum.

FarEye continues to grow business and recruit talent amidst a sluggish economy and the pandemic. The company recently announced that in order to capitalize on the unprecedented demand from retailers and logistics and transportation organizations to scale their direct – to – home deliveries, it will hire 100 technology professionals in India and North America in the year 2021.

It has recently on-boarded some of the biggest retailers and 3PLs as its customers in the US including, a leading meal-kit company, a leading global appliance company that sells approximately 60 million household products in over 100 plus markets every year, and a leading provider of third – party logistics and supply chain solutions which operates a significant network of over 70 sites across North America and Europe with a team of more than 6,000 associates.

Business World, News

FarEye Appoints Suvrat Joshi as Chief Product Officer

Feb 26, 2021 by Rekha Nair 0 Comments #CEO & Co-Founder, #Chief Product Officer, #FarEye, #Kushal Nahata, #Suvrat Joshi

Mumbai – Leading logistics SaaS platform, FarEye has announced the appointment of Suvrat Joshi as its Chief Product Officer (CPO). Based in Seattle, Suvrat brings with him over 20 years of experience of handling product leadership roles at Yahoo, Amazon, Microsoft, Facebook and most recently Dropbox. Suvrat will drive the product vision and accelerate FarEye’s global product expansion with key focus on the customer’s needs.

He has an MBA degree from the University of California, Berkeley and an MS in Engineering from Rensselaer Polytechnic Institute, New York. Suvrat is also a certified Lean Six Sigma Black Belt

“Suvrat is a product-visionary and has an impressive background with some of the biggest product organizations across the globe. I am excited to have him on board as the Chief Product Officer,” said Kushal Nahata, CEO & Co-founder, FarEye.“With his passion and talent, he is the right fit to be a part of our mission to make logistics better for everyone with a robust technology platform. The goal is to enrich lives globally and make a significant difference together” adds Nahata.

As FarEye continues to gain popularity and accelerates its expansion in the Americas and EMEA, the company is aiming to recruit and retain the best talent. FarEye recently announced that in order to capitalize on unprecedented demand from Retailers, Manufacturers, and Logistics & Transportation organizations for the company’s platform, the emerging SaaS unicorn will hire 100 technology professionals globally in 2021.

“I am a strong believer in the power of technology for building solutions that can solve the real-world problems,” said Suvrat Joshi, Chief Product Officer, FarEye. “Logistics forms the backbone of any economy and FarEye stands at the forefront – driving innovation in the industry by solving the complex challenges that cost the supply chain and logistics industry trillions of dollars. I am impressed with the team’s passion and energy to build this world-class product and excited about the opportunity ahead of us.”

Business World

FarEye Strengthens Its Global Technology Team to Drive Growth

Feb 11, 2021 by Neel Achary 0 Comments #COO, #FarEye, #Pankaj Kankar, #top emerging global SaaS companies

Mumbai: Leading logistics platform FarEye has announced that it will further strengthen its global technology team. In order to completely capitalize on unprecedented demand from Retailers, Manufacturers, and Logistics & Transportation companies for the company’s industry-leading platform, the emerging SaaS unicorn will hire 100 techies globally this year.

As an active employer and one of the top emerging global SaaS companies, FarEye has already attracted industry leaders from top brands like Microsoft, Amazon, and Dropbox to strengthen teams, enrich culture and build scalable world-class products.

“At FarEye, we are committed to making logistics better for everyone. Logistics is the heart & spine of any economy and we have realized it even more during the pandemic. Our lives depend on it so much more than we realize, coming to think of the movement of food, medicine or raw materials. Here is where we step in and make a difference by enabling efficient movement of goods, both across the country & the globe. It is our responsibility to ensure everyone gets things delivered to them on time. We are passionate about this challenge at a global level, one that is costing humanity close to a trillion dollars, in wastage alone. With transparency & traceability, we are making logistics reliable and predictable with our robust technology platform. This is a mission to enrich lives globally & one that makes a significant difference.. We are constantly looking for like-minded people who are passionate and talented to join hands with us on this mission.” Said Kushal Nahata, CEO & Co-Founder, FarEye.

Pankaj Kankar, COO, FarEye, who has been driving the technology and talent strategy at FarEye said, “We are determined to build a globally admired technology and people-centric organisation. Our absolute focus is on building intrapreneurs, not employees, where individuals are given a chance to ideate, create and own their chore themselves to drive immense satisfaction and innovation”.

The company is on a journey to achieve 100+ million transactions per day with processing petabytes of data. FarEye has recently hired many industry veterans, including Arun Kumar ex-Microsoft as SVP Engineering. Arun was heading the MS Dynamics 365 platform team and brings over 25 years of technical experience in building SaaS products and high-performance scalable teams and platforms. Other key hires include Kunal Kumar (DOE, ex-Amazon), Shrenik Jain (Sr. DOE, ex GreyOrange), Rajat Budhiraja (VP Professional Services, ex Nagarro), Arpita Jain (Director-QE, ex Times Internet), Kaushal Kumar (Director PMO, ex Genpact), and Jitendra Singh (Sr. Architect, ex MMT, Sumo Logic).

Last month, FarEye announced an ESOP liquidation program for its employees under which eligible employees were able to liquidate up to 35 percent of their vested ESOP shares.

FarEye continues to service its flagship customers and onboard new ones including Tata Steel BSL, HomeTown, UPS & Finland Post. It has partnered with giants like Microsoft, Honeywell, BlueYonder & 4PL, expanded its team, offered wealth creation opportunities ,and bagged recognitions for being a Great Place To Work and the most innovative B2B tech company.

Business World

Tata Steel BSL Partners With FarEye to Onboard Its Predictive Visibility Solution

Feb 4, 2021 by Neel Achary 0 Comments #CEO & Co-Founder, #Chief Logistics Officer, #FarEye, #Kushal Nahata, #Subrata Basak, #Tata Steel BSL

Mumbai, 04 February 2021: One of the most prominent players in India’s steel industry with more than three decades of manufacturing expertise, Tata Steel BSL, partners with FarEye to accelerate its digital transformation goals.

With the aim to improve in-plant and in-transit visibility, optimize transportation costs, mitigate delivery delays, reduce loading times and slash manual dependencies, FarEye is on-boarded to ensure intelligent management of logistics that will reduce turnaround-time, help risk mitigation, end-to-end transportation visibility, and delivery efficiency.

Tata Steel BSL is now achieving high levels of operational excellence via efficient SLA (Service Level Agreement) adherence, Key Performance Indicator benchmarking, bottleneck mitigation, and data-driven business risk calculations. The steel manufacturer now predicts estimated time of arrival with absolute precision, manages exceptions and risks proactively, and has gained end-to-end real-time visibility of ground-level operations.

Subrata Basak, Chief Logistics Officer, Tata Steel BSL says “In this volatile situation in the world, to help us sustain our leadership position, we have made many interventions in our operation process. Due to COVID-19, it was of paramount importance to reduce the man-to-man interactions. Through digitalization, our processes are more agile to meet the ever-changing needs of the supply chain. It also helped to maintain the social distancing norms and touch-free operations helped us reap benefits in terms of performance improvements and turnaround time reduction of vehicles in the plant.”

Real-time tracking keeps the business associates posted on their shipments and ensures timely delivery of the same, bringing customer delight. AI and ML have improved our predictive and information analyzing capabilities through predicting the ETA (Estimated Time of Arrival), In-transit Performance, Loading and Unloading TAT (Turn-around Time), and our Allocation & Placement delays. It has had a compounded effect that can be scaled up effectively for all locations. This integrated platform through its various modules provides an efficient way to control and monitor our logistics processes and costs.”

Kushal Nahata, CEO & Co-Founder, FarEye says, “Ensuring 100% visibility of in-plant and in-transit transportation is critical to optimizing logistics operations, mitigating risks, eliminating delays, and boosting customer satisfaction. This is where FarEye’s platform makes a difference. Its amalgamation of efficient logistics management with proactive exception management and real-time visibility is empowering Tata Steel BSL to drive new levels of operational excellence and tangible ROI.”

By embracing FarEye’s platform Tata Steel BSL is also driving automated delivery workflows including automatic order allocation. Leveraging ePoD (Electronic Proof of Delivery), Tata Steel BSL is now ensuring quick customer feedback on OTIF deliveries and shrinking paper usage. Achieving these new levels of logistics efficiency is positively impacting Tata Steel BSL’s customer satisfaction scores and empowering them to become more competitive.

About FarEye
FarEye is a leading predictive logistics SaaS platform that is making deliveries efficient for industries across Retail, Manufacturing, and Transport, and Logistics. FarEye’s intelligent logistics platform enables enterprises to orchestrate, track, and optimize their logistics operations. It empowers enterprises to gain real-time visibility, excel in the last mile, and deliver customer delight. With 17 Gartner mentions, DHL, Walmart, Amway, Dominos, Hilti, and 150 plus customers have laid trust in FarEye as their partner of choice across 30 countries. FarEye is empowering global enterprises to shrink delivery time by up to 27%, increase courier productivity by up to 15%, eliminate risks by up to 57%, and ensure operational excellence.

Business World

FarEye Rewards Employees with an ESOP Liquidity Program

Jan 7, 2021 by Neel Achary 0 Comments #CEO, #FarEye, #Kushal Nahata

Leading logistics management platform FarEye has started the New Year 2021 with the announcement of an ESOP liquidation program for its employees. This is the first time that the company has offered liquidation of ESOPs.

Under the scheme, eligible employees can liquidate up to 35 percent of their vested ESOP shares, the company said in a statement. FarEye has announced the distribution of USD 739,000 to liquidate eligible ESOP options under this program.

Commenting on the program, Kushal Nahata, CEO, FarEye said, “2020 has been a tough year for all of us. The liquidation program is a reciprocation for the hard work of our employees. It is a small way of saying Thank you to the team as they have been working day in and day out from their homes. We announced this liquidation to make employees partners in our success and to ensure they are able to create wealth for themselves and their families. The team has been able to generate significant liquidity for themselves, which gives us immense happiness & satisfaction. With this program, we will be able to reward our most important asset – our employees whose talent and perseverance helped us become a Great Place to Work for the second time in a row in 2020. We are looking forward to expanding our team with exceptional talent in 2021 and will continue to roll-out programs with similar benefits.”

While 2020 has been a challenging year worldwide, FarEye’s business has expanded significantly as it enabled enterprises to get closer to their customers. Last year “customer logistics” was in the spotlight, when everything was bought online and the focus was to deliver the goods in the least amount of time with maximum safety. FarEye works with enterprises to provide an end to end logistics management platform which offers superior delivery experiences to the end consumers. 84% of companies that work to improve their customer experience report an increase in their revenue. Its technology platform enables enterprises to orchestrate, track, and optimize the movement of goods and adds the much-needed visibility in a typical farm to fork journey.

Last year, FarEye raised USD 37.5 million in Series D funding to expand its intelligent logistics management platform used by DHL, Walmart, Amway, and many other Fortune 500 companies. This is the second time within the last year that FarEye raised funds to support its hyper-growth in global markets, making it a total of USD 50 million in investment so far.

With significant wins in the last two quarters and 17 Gartner mentions, FarEye continues its expansion strategy in the Americas, EMEA & APAC markets with some exceptional wins on the table.

Top 3 Employee Gains

Combined salaries at joining: Rs.17,10,000/-
Current combined current salaries :- Rs.1,53,57,000/-
Current salaries including ESOP values : Rs.10,87,79,150/-
Daily-earnings at joining: Rs.4697.80/-
Current daily earnings: Rs.42189.56/- (Not including ESOP Values)

Business World

FourPL Partners with FarEye to Bring Predictive Visibility to Customers in ANZ

Oct 1, 2020 by Gouri Achary 0 Comments #Brett Findlay, #FarEye, #FourPL., #Kushal Nahata, #logistics SaaS platform

Mumbai, 30th September 2020: FourPL, an Australian IT consulting company specialising in supply chain and procurement, has announced a partnership with FarEye, a leading logistics SaaS platform that enables brands to orchestrate, track, and optimize their logistics operations.

In the current climate where the Covid-19 crisis has accelerated offline and online convergence, the partnership brings the predictive capability to help brands orchestrate, track, optimize and deliver goods faster.

“FourPL are excited to announce our strategic partnership with FarEye. Our customers are demanding real-time visibility in their logistics operations and expect to know exactly when, where and how their goods will be delivered,” says Brett Findlay, CEO for FourPL.

FarEye helps businesses to orchestrate logistics processes in a multi-enterprise & multi-stakeholder environment to ensure seamless & efficient movement of goods. FarEye’s platform is easy-to-use, and easy-to-implement supported by its business process management engine and built-in extensive repository of industry best practices. The leading machine-learning-based platform is empowering global enterprises to shrink delivery time by up to 27%, increase courier productivity by up to 15%, eliminate risks by up to 57%, and achieve operational excellence.

“Today’s increasingly customer-centric economy requires integrated and value-added capabilities to achieve competitive advantage. FarEye helps organizations to maximize productivity & minimize risk while continuously making logistics operations efficient. We are passionate about making the movement of goods a positive experience through innovation, deployment of industry best processes and constant improvement. We make organizations future-ready by differentiating their offerings & making them best in class. This enables them to drive expected behaviour and underpin broader business objectives. “says Kushal Nahata, CEO & Co-founder, FarEye

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