FourKites raises $50 mn in Series C funding

FourKites, a US and Chennai-based predictive supply chain solutions startup, has raised $50 million in Series C funding. The funds have been raised from existing investors including August Capital, Bain Capital Ventures, CEAS Investments and Hyde Park Angels.

This investment has raised FourKites' total capital to $101.5 million since its launch. In February 2018, the company raised $35 million in a previous Series B round.

The fresh capital will be used by the company for expanding its supply chain platform with new applications and capabilities and for doubling its headcount in India by employing and developing increased talent.

Arun Chandrasekaran, Co-Founder and CTO, FourKites, said, "We are extremely delighted with the multi-fold and meteoric growth of FourKites in its recent years. With Series C funding in place, we are looking forward to accelerating the growth of the company by further expanding our engineering talent pool."

The company's network includes more than 200 global shippers like ABInBev, Conagra Brands, Kraft Heinz, Nestlé, and Unilever, among many others.

Currently, FourKites tracks shipments in 55 countries worldwide across North America, South America, Europe and Africa.