FarEye claims that with Dipper it will continue to advance the winning of supply chain ecosystem in India, Middle East, South East and Europe
FarEye has announced the acquisition of Dipper for an undisclosed sum. Dipper, founded by Suryansh Jalan and Ayush Syal in is an IoT platform that provides visibility and predictability in freight movement. FarEye claims that the move reinforces it’s growth plans to solve challenges for long-haul and multi-modal logistics.
Suryansh Jalan, Co-founder and CEO of Dipper said, “We are excited to join hands with FarEye, a company that shares our values, vision and desire to digitally enable the Logistics and Supply Chain industry. Our joint comprehensive solution will enable shippers to gain end to end visibility of the freight and will give them access to preventive tools for optimizing supply chain management. From Order Creation, Allocation, Transit, Visibility and ePoDs, combined with powerful SLA and KPI dashboards, fuelling, resource utilisation, optimisation to toll cards – this suite will cater to needs of all stakeholders (consignors, 3PL/Transporters, Fleet Owners and Consignees) alike.”
Move to address lack of data problem in road transportation
FarEye claims that the biggest problem in road transportation is lack of data and Dipper will help the company address it in a better manner. The company says that Dipper provides a unique solution by using a mix of IoT devices, SIM cards, smartphones and its wide network of IoT/ERP providers.
The location data (received from IoT ecosystem) is fed into FarEye’s machine learning platform that then predicts estimated time of arrival in long-haul movements by learning the delays at tolls and terrains. It optimises resources of 3PLs and allows better utilisation while improving the SLAs for higher on-time deliveries, digitised payments and pilferage and loss control for best customer satisfaction.
Kushal Nahata, Co-founder and CEO of FarEye, said, “Shippers are losing a lot of time, money and inventory due to unpredictable freight movement. Transport infrastructure investment is projected to increase at an average annual rate of about 5 per cent worldwide over the period of 2014 to 2025. The Dipper team understood the problem really well and this understanding coupled with a very passionate team and a strong product supplemented FarEye’s existing strength in supply chain industry technology. We are now headed towards digitising Middle East’s transportation industry and improve it to ensure on-time deliveries with reduced cost of goods movement. We are now a strong team of 200, consulting more than 100 customers – targeting the trillion dollar logistics and supply chain industry, globally.”
Frost and Sullivan had estimated the size of the logistics sector in GCC to be $107 billion, of which the road transportation sector accounted for $26.9 billion, growing at a conservative rate of 5 per cent year on year.
Nahata further added, “With Dipper we will continue to advance the winning of supply chain ecosystem in India, Middle East, South East and Europe.”