FarEye raises $100 million from TCV, Dragoneer Investment Group in series-E funding
FarEye will further focus on expanding its software platform capabilities, drive European and North American expansion, and continue to attract world-class talent.
With an aim to reduce risks and enhance logistic efficiency, India’s largest zinc-lead miner, Hindustan Zinc Limited (HZL) has joined hands with a SaaS-based predictive logistics platform, FarEye to build first digital logistics control tower.
FarEye’s uses machine learning and IoT powered platform to drive actionable analytics around stakeholder and vehicle performance to better identify bottlenecks. This platform uses GPS and RFID technologies integrated with the Transport Management System (TMS) and SAP ERP.
With this type of Logistics Control Tower HZL will is able to monitor and control more than 30,000 trips per month.
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Chief Commercial Officer at Hindustan Zinc Limited, Sharad Gargiya, said that the use of such high technology has helped HZL to enhance the efficiency of their supply chain and operations.
“Its (FarEye’s) machine learning capabilities have been generating accurate ETAs for Hindustan Zinc’s customers. It also makes planning efficient routes easier,” he added.
The system is live across all legs of motion (plant, mines, smelters, ports, customers) and has been recently awarded the ‘Outstanding Digital Transformation in Supply Chain’ award at the Express Logistics & Supply Chain Conclave, 2019.
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