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FarEye raises USD 13 million

Mumbai: FarEye has raised $13 million as an extension to its Series D round, taking the total funding in the round to $37.5 million.

The funding was led by Infosys co-founder Nandan Nilekani’s Fundamentum Partnership, a growth-capital fund for mid-stage technology companies in India, backed by Nilekani and Sanjeev Aggarwal, and Korea’s largest investment firm KB Global Platform Fund.

Nilekani and team are putting in $10 million, while KB Global has added $3 million, said Kushal Nahata, chief executive officer, FarEye.

“We will use the funds to beef up our technology team in India, invest in the platform’s predictive and prescriptive capabilities and scale our business teams in the US, Europe and Singapore,” said Nahata.


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