Aiming to facilitate logistics by bringing predictive approaches to transportation and delivery processes, FarEye received an investment of $ 25 million in the D Series investment tour led by Microsoft’s corporate venture fund M12. Eight Roads Ventures, Honeywell Ventures and SAIF Partners, one of the venture’s previous investors, were the new tour participants. FarEye, which currently has more than 350 employees, aims to increase the number of employees over 500 in a short time. He states that he will use the new investment he received in Europe, Asia and the USA to increase the capabilities of the platform, gain more customers and open to new markets. FarEye’s Java-based Serve platform with Microsoft Azure support helps the company allocate automatic shipments and orders, organize and track electronic delivery and logistics operations, such as over 150 customers such as Domino, Walmart, Amway, 7-Eleven and DHL. The company aims to avoid delivery delays and optimizes delivery routes to increase fleet efficiency, taking into account exceptional situations such as traffic, weather and off-road deviations. FarEye’s machine learning algorithms use data from past purchase and delivery experiences to improve future forecasts, and geographically code the addresses of over one billion customers to increase successful first trial delivery rates. Serve also offers an AI-powered chat platform to speed up decisions, as well as an interface that allows administrators to update customer preferences instantly.
