FarEye acquires logistics technology startup PY Technology

March 5th 2021, New Delhi - Low-code intelligent delivery management SaaS platform, FarEye announced that it has acqui-hired the logistics technology startup PY Technologies in a bid to scale customer implementations as well as incubate new ideas. The startup, earlier known as PRTouch, was founded by Jignesh Vasani in 2012. He will be joining FarEye as VP, professional services.

Vasani is an entrepreneur and a leader with over 20 years of experience in building blocks aiming towards solving real-life problems. He has a proven track record of growing business across industries including Logistics, Education, IT, and Finance. He has hands-on experience in building new-age technology products such as Deep Learning, Machine Learning, and Blockchain.

Commenting on this partnership, Jignesh Vasani, VP, FarEye, said, “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. 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.”

FarEye’s low-code intelligent platform is powering brands, retailers and carriers to do faster, reliable, customer-centric deliveries at scale. Increase in online orders and brands building up direct-to-customer channels is accelerating demand that will drive FarEye’s projected growth of 2.4x in FY20-21, with the United States being the fastest growing market for the company. FarEye has launched many new processes internally and has hired industry stalwarts in its technology leadership team to support its growth momentum.

FarEye continues to grow business and recruit talent amidst a sluggish economy and the pandemic. The company recently announced that in order to capitalize on the unprecedented demand from retailers and logistics and transportation organizations to scale their direct - to - home deliveries, 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 including, a leading meal-kit company, a leading global appliance company that sells approximately 60 million household products in over 100 plus markets every year, and a leading provider of third - party logistics and supply chain solutions which operates a significant network of over 70 sites across North America and Europe with a team of more than 6,000 associates