Delhi-based logistics start-up FarEye raises ₹61.5 cr

BL Internet Desk Updated on February 06, 2018

February 6

Delhi-based digital logistics solutions company FarEye raised ₹61.5 crore in Series C funding from Germany-based Deutsche Post DHL Group, according the startups’s regulatory filings.

The company has issued 73, 632 Series C compulsory convertible preference shares to Singapore-based firm 23i Private Limited. The investment is said to be led by Dietmar Nienstedt, DHL's SVP and Global Head of M&A.

The firm, which counts Hitachi and logistics firm Blue Dart among its clients, had earlier raised ₹22 crore from SAIF Partners and ₹2 crore from Indian Angel Network.

Earlier this year, logistics start-ups XpressBees raised ₹225 crore from Alibaba while Gurugram-based Rivigo had raised funding from SAIF Partners.

Published on February 06, 2018
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