As the Delhi winter is getting intense and the curtains are drawing upon 2019, I thought this may be a good time to reflect on the year and how far we have come in 2018. It has been a rollercoaster year for us at FarEye, a year that has helped us make a headway into new frontiers and has set us on an amazing trajectory of growth. Our commitment to helping enterprises achieve excellence in their logistics and supply chain operations has been reinforced this year with an energetic new team joining us through the Dipper acquisition. Our collective energies have multiplied manifolds and are in better shape than ever in the past to take on the challenges we have set out to solve, head on! While we are rolling up our sleeves for an even more exciting and challenging 2019, here are some mention-worthy milestones I’d like to share with you.
1. Series B Funding & Expansion
It would not be very correct of me to say that I had a crystal clear vision when I started my entrepreneurial journey almost a decade back(Oh yes! 2019 will be my 10th year as an entrepreneur, which is a personal milestone). The journey has been quite exciting and rewarding with a lot of learning, pivoting and reboots. However, the FarEye story in the last 5 years has been remarkable as I can see the impact right in front of my eyes with 100s of customers being able to achieve so much more with FarEye. While we are rejoicing the success of our years of toil, I reminisce our early days with my 2 key pillars of strength, Gaurav & Gautam(FarEye co-founders) and how our untiring efforts and ever-changing vision to fit the needs of the industry have borne fruition. The series B gave us the much-needed validation, confidence and strength to continue keeping our efforts to help enterprises solve logistics visibility challenges. We are using our funds to expand in multiple dimensions and that does not mean just hiring effort. We are also channeling our effort in increasing our portfolio of offerings, increasing our footprint in newer geographies, R & D and of course in getting new talent that will steer our next phase of growth.
2. Expanding Our Global Footprint
We have expanded globally in newer geographies which makes it a total of 7 locations - Delhi, Mumbai, Bangalore, Dubai, London, Singapore & San Francisco. The focus for 2019 will be to expand growth in the new territories with major focus on customer acquisition and scaling the local markets which this local presence would help fuel.
3. The Dipper Family Joining Us
A significant milestone of 2018 was the Dipper family joining us. I have already written a detailed post about how this happened. The Dipper team led by Suryansh & Ayush, who are now dear friends, with a vision that aligns very closely with mine has fit in seamlessly within FarEye and it has been an absolute pleasure to have them onboard and have added value on several fronts including product direction, business development, thought leadership. 2019 will see a major integration of our individual capabilities and a tight synchronisation of our capabilities as a single platform.
4. Customer Acquisition
The fiery, young driven team of business development has made us proud on many fronts by acquiring the who’s who of different industries. I am extremely proud that a leading pizza delivery company is able to achieve more deliveries and delight more people and the fact that we have been able to play a significant role in the process. Apart from that, we also have big enterprise clients with global presence such as Hilti and Amway. In addition, we also have dominant local market leaders, with region-specific challenges, which has deepened our understanding of the logistics market and the challenges at a localised level. This has helped us make our platform more sensitive towards specific challenges that may be relevant in areas outside our initial scope of consideration.
5. Product Expansion
We are a product-first company, and, I would personally not like that to change that in our DNA and hence, we celebrate our milestones in the product journey as part of this long post. I am quite pleased to announce the launch of FarEye Maps as a year-end special. FarEye Maps is a significant addition to our portfolio that will give us competitive differentiation and advantage.
We also launched our Connectors early this year which has increased our interoperability with other systems thereby helping us make a difference to a broader set of clients.
The most proudest product feature that has made us ready for the future and will add significant value to our clients is FarEye Insights. This Machine Learning-based feature will empower clients with intelligent and actionable insights into their delivery process which will help them get closer to achieve their goals of optimum efficiency and delightful deliveries.
6. A Bee-line Of Awards & Recognitions
“Don’t worry when you are not recognized, but strive to be worthy of recognition” said the great Abraham Lincoln. This has been always at some part of my work ethic and that strive for excellence and good work has resulted in a lot more recognition for our team more than I could have ever imagined or hoped for. We thank all those great organisations and industry bodies that thought us worthy of a host of awards such as Business Today’s Coolest Startup 2018, Deloitte Tech Fast 50. While that’s FarEye as a company, from a technical capability standpoint, we are happy to be mentioned 5 times in several Gartner reports & market guides, listed here:
As we close the year on a high note, I wish to reinstate our commitment to helping enterprises achieve delivery and logistics excellence and we are hopeful that in 2019, we would strive harder to reinforce this commitment. On that note, I wish you a great 2019 ahead this New Year’s eve and do keep sending in your good wishes and feedback(if any) to us.
A product journey faces constant movement and activity, and each step holds the potential for delays, wasted money, and errors.
Digitization has also automated the mundane and repetitive processes for logistics organisations to save cost, time, and human resource
A quick round-up of 2018 at FarEye where we look at some major milestones in our journey spanning Product Announcement, Awards, Acquisition, Funding and Global Expansion.