FarEye Acqui-hires PY Technology to Scale Customer Implementation, Incubate New Ideas
FarEye has acqui-hired the logistics technology startup PY Technologies in a bid to scale customer implementations as well as incubate new ideas. The startup, erstwhile PRTouch, was founded by Jignesh Vasani in 2012. He will be joining FarEye as VP, professional services.
Jignesh 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.
On the acqui-hiring, Kushal Nahata, CEO and Co-founder FarEye said, “I would like to welcome Jignesh and his team on behalf of all of us in this exciting journey to empower brands and carriers globally to deliver better. Jignesh’s skills and experience would strengthen the services and engineering teams and increase value for our customers. Together we are aiming to drive innovation in the industry by solving the complex challenges that cost the supply chain and logistics industry trillions of dollars globally.”
Commenting on this partnership, Jignesh Vasani, VP, FarEye, added, “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.”
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 US 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 on-boarded 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.