Posted by New Delhi: FarEye a low-code intelligent delivery management SaaS platform has acqui-hired logistics tech startup PY Technology. This acqui-hired deal will help FarEye to scale customer implementations and incubate new ideas.
Jignesh Vasani founded PY Technology, erstwhile PRTouch in 2012 and he will be joining FarEye as VP – Professional Services.
He is an entrepreneur with over 20 years of experience in building blocks aiming towards solving real-life problems. He has hands-on experience in building new-age technology products such as deep learning, machine learning and blockchain.
“I would like to welcome Jignesh and his team on behalf of all of us on this exciting journey to empower brands and carriers globally to deliver better. Jignesh’s skills and experience would strengthen the services and engineering teams and increase value for our customers,” said Kushal Nahata, CEO and Co-Founder FarEye.
“Together we are aiming to drive innovation in the industry by solving the complex challenges that cost the supply chain and logistics industry trillions of dollars globally,” added Nahata.
“Friends for many years now, Kushal and I have only discussed logistics. For as long as I can remember, its problems and how we can create an impact in the market together,” said Jignesh Vasani, VP – FarEye.
“Our passion for the industry will enable us in spearheading FarEye in the right direction at an even greater speed. I and the team are looking forward to working in collaboration with FarEye for a fruitful association,” added Vasani.
An increase in online orders and brands building up direct-to-customer channels is pushing demand that will drive FarEye’s projected 2.4x growth in FY20-21. The US is the fastest-growing market for the company. FarEye has launched many new processes internally and has hired industry stalwarts in its technology team to support its growth momentum.
FarEye continues to grow business and recruit talent amidst a sluggish economy and the pandemic. It will hire 100 technology professionals in India and North America in the year 2021.
It has recently onboarded some of the biggest retailers and 3PLs as its customers in the US. That includes a meal-kit company, a global appliance company that sells around 60 million household products in 100 plus markets every year.
And a provider of third-party logistics and supply chain solutions that operates over 70 sites across North America and Europe with a team of over 6,000 associates.