Technology startup, FourKites is all set to acquire new clients through the commencement of its operations in the Indian Territory. And with the launch of the new office with the state-of-the-art facility at a Leeds Platinum certified SEZ in Chennai at DLF IT Park it foresees doubling its Indian headcount by the end of the current fiscal.
On the occasion of inaugurating it's new office, Mathew Elenjickal , Founder and CEO of FourKites commented, “The opening of our new Indian center gives us the flexibility to work closely with our existing customers and offer our products and services to a broader audience of Fortune 500 client signups that has occurred in the past two quarters.
“FourKites India will continue to expand aggressively and focus on the critical path of our global business plans,” added Arun Chandrasekaran Co-founder and Chief Technology Officer.
He further revealed that the Chennai facility is currently the only engineering center globally which offers state-of-the-art facilities to employees, whilst providing them ample opportunities for learning and growth through active participation on international projects.
He also shared FourKites aspirations to become an active member of the local community by conducting technology and academia connects events.
Earlier in February this year, the Chicago-based supply chain startup had raised $35 Mn in Series B funding led by August Capital.
At the time of funding, FourKites had mentioned that they plan to use the money raised for further geographic and product expansion. With the round of funding in February 2018, the total funding raised by the startup was brought to $51 Mn.
In February, the number of employees at FourKites stood at 160. The Chief Product Officer, Priya Rajagopalan had shared with a publication in Chicago that the new hires that the Tech Startup would be bringing in would be split between the company's offices in Chicago and Chennai, India.
She said,“The Chicago office has more than doubled in size over the last year, and I expect us to continue to grow significantly in 2018.” She further added that they would be hiring across the board.
Taking its plan to hire across the board forward, FourKites in July roped in Rashi Jain as their new Vice President – Operations.
Now, as part of their bigger plan to expand in Asia and South America, FourKites will be focusing on leveraging more Indian business collaborations which are in the pipeline.
Mathew Elenjickal said, “This is a significant step in our strategy to expand our capability footprint, and broaden the market awareness for FourKites' services throughout the world.”
As per a media report, FourKites has grown revenue by 400 percent over the last 12 months (as of February 2018) and is currently signing large shipper customers at a rate of one per week. The company recently signed international deals with Unilever for supply chain tracking across Europe, and with AB InBev in South Africa.
Other FourKites customers include many of the world’s largest shippers such as Best Buy, Conagra Brands, KraftHeinz, Nestlé, Perdue Foods, Smithfield Foods and US Foods, among others.