FarEye acqui-hires logistics technology startup PY Technology

Delhi-based logistics SaaS platform FarEye said it has acqui-hired the logistics technology startup PY Technologies in a bid to scale customer implementations as well as incubate new ideas.

PY Technologies, earlier known as PRTouch, was founded by Jignesh Vasani in 2012. He will be joining FarEye as VP, professional services.

Kushal Nahata, CEO and Co-founder FarEye, said,

“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.”

Vasani is an entrepreneur and a leader with over 20 years of experience, with a proven track record of growing business across industries including logistics, education, IT, and finance.

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He has hands-on experience in building new-age technology products such as deep learning, machine learning, and blockchain.

“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 to spearhead FarEye in the right direction at an even greater speed,” added Jignesh Vasani, VP of FarEye.

As an increase in online orders and brands building up direct-to-customer channels is accelerating demand, FarEye has projected a growth of 2.4x in FY20-21, with the United States being the fastest growing market for the company.

The company recently announced that in order to capitalise on the unprecedented demand from retailers and logistics and transportation organisations to scale their direct-to-home deliveries, it will hire 100 technology professionals in India and North America in the year 2021.