Logistics management firm FarEye buys IoT platform Dipper Tech

FarEye, New Delhi-based logistics management startup, has acquired Dipper Technologies, an internet-of-things (IoT) platform that provides visibility and predictability in freight movement, for an undisclosed amount.

This acquisition will help FarEye to reinforced its growth plans to solve challenges for long-haul and multi-modal logistics.

Kushal Nahata, Co-founder CEO of FarEye, said, "Shippers are losing a lot of time, money and inventory due to unpredicted freight movement. India spends about $160 Billion on road logistics, twice compared to countries with an efficient transportation infrastructure. The Dipper team understood the problem really well and this understanding coupled with a very passionate team a strong product supplemented FarEye's existing strength in supply chain industry technology. We are now headed towards digitalizing Indias transportation industry and improve it to ensure on-time deliveries with reduced cost of goods movement."

Founded in 2013, FarEye provides flagship logistics management software that aims to solve complicated last-mile delivery issues.

Suryansh Jalan, Co-founder CEO of Dipper, said, "We are excited to join hands with FarEye, a company that shares our values, vision and desire to digitally enable the Logistics Supply Chain industry. Our joint comprehensive solution will enable shippers to gain end to end visibility of the freight and will give them access to preventive tools for optimizing supply chain management. From Order Creation, Allocation, Transit Visibility and ePoDs, combined with powerful SLA and KPI dashboards, fuelling, resource utilisation, optimisation to toll cards - this suite will cater to needs of all stakeholders (consignors, 3PL/Transporters, Fleet Owners and Consignees) alike."