Bangalore, December 10, 2020: FarEye, the leading logistics orchestration platform, has been named by CB Insights among the global top 100 most promising B2B retail tech companies in its inaugural Retail Tech 100 global ranking. FarEye has been named as the second company among seven in the Last-Mile Delivery category.
CB Insights’ first annual Retail Tech 100 winners include private, active business-to-business (B2B) retail tech companies from 21 countries across 13 overarching categories. These companies are reimagining the traditional retail experience and will help retailers adapt to a post-COVID world. FarEye is among just seven Indian companies that have found a place in the CB Insights Global Top 100.
Speaking on this achievement, Kushal Nahata, CEO & Co-Founder, FarEye, said, “We are honored to be named in the CB Insights Retail Tech 100 list. Retailers today are experiencing a phase shift and need to deliver consistent digital experiences across all platforms while handling peak demands, quicker fulfillment, and personalized deliveries. In an online-first world, logistics is the only actual touchpoint between the brand and its customer. Therefore, retailers need to get that experience right the first time. FarEye is working with leading retailers across the globe, helping them achieve seamless collaboration across stakeholders, real-time visibility of logistics operations, and deliver superior customer experience in a cost-effective manner.”
Said CB Insights CEO Anand Sanwal, “The rate of change in retail is accelerating, and the Retail Tech 100 showcases the tech companies that are changing every facet of retail – from store automation to supply chain robotics to personalized merchandise discovery. Spanning 13 distinct technology markets, they address key challenges retailers face today while also helping them adapt and be ready for changing consumer habits. The honorees also underscore the fact that the best technologies driving retail transformation may come from anywhere as they hail from 21 countries ranging from Canada to Singapore to Brazil to Sweden. As we head into 2021, we are excited to see the impact the Retail Tech 100 will have on customers, retailers, and markets.”
FarEye works with its enterprise customers such as Walmart, Amway, DHL, Hilti, and Domino’s across 20 countries to provide higher control on their logistics and offer a superior delivery experience to their end customers. The company’s technology platform digitizes the way enterprises orchestrate, track, and optimize the movement of goods, enabling enterprises to lower logistics costs while delighting end consumers.
Earlier this year, FarEye raised USD 37.5 Mn in series D funding to expand its Intelligent Logistics Orchestration Platform. This is the second time this year that FarEye has been able to raise funds to support its hyper-growth in global markets, making it a total of USD 51 Mn investment so far.