INDIAN ANGEL NETWORK INVESTS IN FAREYE, A MOBILE ENABLED SOLUTION FOR FIELD WORKFORCE MANAGEMENT

55075507a1

Indian Angel Network (IAN) has announced its investment in Fareye; a Delhi based mobile enabled solution for field workforce management. Fareye is a solution to the most critical problem of a logistics manager such as real-time coordination with mobile workers, field jobs and customer requests. It solves by providing quick overview of field force with job status & tool to schedule, dispatch & monitor jobs to workforce. IAN investors, Nitin Jain and Piyush Chawla led the investment round in the start-up. Nitin and Piyush will also join  the Fareye board.
Founded in 2013 by Gaurav Srivastava, Gautam Kumar, and Kushal Nahata, Fareye was started keeping in mind the increasing need of businesses to improve visibility and simplifying job processes. Fareye provides instant real time support right in manager’s hands to increase their productivity and makes available the critical information to find customer location, optimum route and recording job updates. A highly scalable cloud, GPS enabled solution; Fareye provides an answer to a critical pain point of a fast growing, remote workforce model.

The company has recently started its global journey and has empowered Namshi – Middle East’s prominent online destination for fashion.
Nitin Jain, an IAN Investor member who will be joining Fareye board said, “In the last few years we have seen several companies going remote. Remote workforce management is not only cost effective, but it also creates a competitive advantage for companies as efficiency improvements are realized. However, for effective operations companies require the right technology to support a remote infrastructure. We believe that Fareye seamlessly meets the essential requirements of such businesses. Gaurav, Gautam, and Kushal form a truly passionate team
and we are looking forward to work with them.”
Kushal Nahata, Co-founder, Fareye said, “We will use the investment primarily for three things – upgrade up sales, enable aggressive client acquisition, product development. We plan to improve our technology focus so that we can operate on a bigger scale and employ the right talent to help us achieve the goals that we have set up for ourselves. We are proud to be to be associated with Indian Angel Network. We are certain that IAN mentorship and investment will help us to build an accelerate growth path for Fareye” Padmaja Ruparel, President, IAN stated “The logistics space provides a great opportunity for entrepreneurs to build a high growth company with an innovative solution. Fareye picked up on this need and the promoter team is focused on quickly scaling up on the back of this market. ”
About Indian Angel Network
Indian Angel Network is Asia’s largest angel investor network with over 300 investors across 10 countries and the world’s only angel network with operations outside its home country. As a part of this Network built “By Entrepreneurs, For Entrepreneurs”, investees can gain access to the vast business network of IAN’s influential members, strategic direction, and operational guidance apart from financial investment which is critical for creating large, valuable companies. Over the last two years,, IAN funded over 40 deals investing close to US$ 24 million. IAN’s portfolio companies leveraged IAN’s investment with another US$ 30 million or so from next round, bringing in a total of US$ 55+ million to startup companies.

Be Sociable, Share!


Mohit Bansal(23) is B.Tech in Electronics and Communication Engineering from Indian School of Mines, Dhanbad, India. He has interest in business and entrepreneurship and has published couple of research articles. He is also associated with various NGOs. He is with Techaloo when it was just in concept stage. The Techaloo site was not existing even then. Currently Mohit is working with Mu Sigma as a Business Analyst Profile.

Leave a Comment

Current ye@r *

Close
Please support the site
By clicking any of these buttons you help our site to get better
Social PopUP by Timersys