An acquisition leads to betterment and development of the companies. Fareye which is logistics management startup acquired IOT freight logistics startup Dipper Technologies the deal amount is undisclosed by both startups.
Fareye is a SaaS (software-as-a-service) platform, started in 2013 by Gautam Kumar, Gaurav Srivastava, and Nahata. The firm is based out in New-Delhi, which provides solutions to run to e-commerce and supply chain logistics operations. It delivers the goods on time with reliability using data analytics and automation. RoboticWares private limited operates the startup Fareye. It has served more than 100 clients till now, which is growing 362% every year with jet speed.
Dipper technologies also New-Delhi based logistics startup which runs on IoT platform is founded by IIT and NIIT graduates Suryansh Jalan and Ayush Syal in 2015. It is an online place where the truck owners can do business with load owners. The startup will track real-time trucks moving by using the GPS tracking system to give the best services for clients. The 20 employees will be joining the Fareye team.
The main reason behind the acquisition of dipper startup is to become might power in the logistics and to improve the accuracy in delivering the products by using the technologies used by Dipper. At the beginning of the year, the startup raised $9.8 million from Deutsche Post DHL Group.