CHENNAI, India and SAN JOSE, California, May 3, 2023 – Leading provider of supply chain software Pando announced the closing of a USD 30 million Series B round of fundraising, increasing the total amount received to date to USD 45 million. Leading Silicon Valley investors Iron Pillar and Uncorrelated Ventures led the round, including previous backers Nexus Venture Partners, Chiratae Ventures, and Next47. David Dorman, Chairman of CVS Health and Director on the Boards of Dell and Paypal; Tom Noonan, Director on the Boards of the New York Stock Exchange and SalesLoft; Scott Kirk of Bain Capital, Paul Brown of Dunkin’, Baskin-Robbins, and Neiman Marcus, Nick Mehta of Gainsight, and Amar Goel of Pubmatic were among the notable American CEOs and angel investors who invested in this round.
Supply chain problems have reached a pinnacle in recent years, impeding business expansion and consumers’ access to high-quality goods. Over 70% of manufacturing executives said that supply chain disruptions impacted their businesses the previous year, and 90% of those businesses had increased costs and declining productivity, according to a recent Deloitte survey. The logistics technology industry is anticipated to reach USD 25 billion by 2025 as a result of investments made by multinational corporations in supply chain technology to increase agility, efficiency, and resilience. To capitalize on this growth trend and promote supply chain agility for the 2030 economy, Pando is in a strong position.
Pando’s platform is viewed by investors as essential to the modern supply chain toolset for bringing innovation and resilience to the sector. Partner at Iron Pillar Mohanjit Jolly, who oversaw Series B, thinks Pando is ideally situated to dominate the world in this expanding industry. The Logistics Tech market is ready for disruption because of the high demand brought on by market instability, the legacy competition attempting to catch up, and the tendency towards bundling point solutions. Pando approaches the issue holistically and adopts an international perspective on IP-led product creation thanks to its top-tier talent in the US and India.
A “single pane of glass” has been created by Pando to simplify the entire order-to-fulfillment process for manufacturers, distributors, retailers, and 3PLs. For several Fortune 500 companies, including Johnson & Johnson, Procter & Gamble, Nestle, Nivea, Accuride, Danaher, Perfetti Van Melle, and BP Castrol, this AI-powered, no-code platform for collaborative fulfillment has proven itself on a global scale, improving service levels and reducing carbon footprint and costs.
“Pando’s Fulfilment Cloud has demonstrated itself over the past three years across several industries, with significant revenue growth, illustrious client endorsements, high customer satisfaction scores, and a fully developed enterprise-grade platform. Abhishek Sharma, Managing Director of Nexus Venture Partners, funded the business in 2018, stated that Pando is expanding into new industries and countries, particularly the US.
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