FarEye, in a statement, announced the acquisition of Dipper for an undisclosed sum. Dipper, founded by Ayush Syal and Suryansh Jalan in September 2015, is an IoT platform that provides visibility and predictability in freight movement and is trusted by Fortune 500 companies and large manufacturers.
FarEye, on the other side, founded by Gautam Kumar, Kushal Nahata, & Gaurav Srivastava in 2015 is a global leader in last mile delivery platform, servicing over 100 customers across 5 continents.
This move reinforces FarEye’s growth plans to solve challenges for long-haul and multi-modal logistics. Dipper’s predictive technology platform offers logistic’s stakeholders end to end real-time visibility of their chain while enabling them with preventive management tools and easy decision making aided with smart KPIs and analysis. Their propriety machine learning –ML engine estimates real-time delay in freight movement. This helps shippers with reliable transportation reducing inventory, better planning for the arrival of goods, and benchmarking SLAs to reduce transportation cost. The technology allows bottleneck mitigation, on-time deliveries, theft and pilferage reduction, customer satisfaction, digitized document digitization with electronic proof of deliveries and dispatch orders, and optimized operations.
The biggest problem in road transportation is lack of data because of fragmented industry and multiple stakeholders. Dipper provides a unique solution by using a mix of IoT devices, smartphones, SIM cards, and its wide network of IoT/ERP providers. The location data (received from IoT ecosystem) is fed into FarEye’s ML platform that then predicts estimated time of arrival in long-haul movements by learning the delays at tolls and terrains. It optimizes resources of 3PLs and allows better utilization while improving the SLAs for digitized payments, higher on-time deliveries, and pilferage & loss control for best customer satisfaction.