As the COVID-19 pandemic brought unprecedented challenges to businesses worldwide, the spotlight turned to the supply chain sector for swift adaptation and resilience. FarEye, a logistics software firm backed by Microsoft, emerged as a crucial player in navigating these turbulent times, providing predictive analysis solutions to optimize supply chain operations.

Navigating Through Uncertainty

With a focus on predictive analysis, FarEye empowers its clients with insights into demand and buying trends across the logistics landscape. Serving a diverse clientele ranging from manufacturers to retailers, FarEye counts industry giants like DHL, Amway, Hilti, Walmart, Domino’s, and Zomato among its partners.

During the lockdown months, FarEye experienced a surge in demand, leading to a 180% month-on-month increase in usage. This spike coincided with the heightened importance of last-mile delivery in both B2B and B2C segments.

Tapping into a Trillion-Dollar Market

FarEye’s ambition extends beyond immediate growth to capturing a substantial share of the trillion-dollar global supply chain market. With the industry still largely under-digitized, there is ample opportunity for innovative solutions to streamline operations and reduce costs.

Amit Bagga, Chief Revenue Officer at FarEye, emphasizes the potential to extract wasted costs from the supply chain, estimated at a trillion dollars. This vast opportunity attracted significant investment, with support from Microsoft’s M12 fund, The Fundamentum Partnership, and KB Global Platform Fund.

Microsoft’s Strategic Alliance

Microsoft’s backing of FarEye underscores its commitment to driving digital transformation across industries. By optimizing logistics operations, companies can significantly reduce supply chain costs, contributing to overall profitability. Bagga highlights the strategic partnership with Microsoft as pivotal in achieving FarEye’s objectives.

Path to Recovery and Growth

Despite the challenges posed by the pandemic, FarEye is witnessing signs of recovery. Engagement levels have rebounded to 80% of pre-COVID levels, with increased participation in global Request for Proposals (RFPs). The company is ramping up hiring efforts and expanding its presence in the US and European markets.

Looking ahead, FarEye anticipates substantial growth, aiming for a 200-300% year-on-year increase. With its innovative solutions and strategic partnerships, FarEye is poised to play a leading role in reshaping the future of the global supply chain landscape.