Chennai-based startup, Pando, provider of networked logistics management software, has raised ₹64 crore in a Series A funding round led by Chiratae Ventures, with participation from Siemens-backed Next47 and existing investor Nexus Venture Partners.
Notable angel investors in this round include Ramkumar Narayan, VMWare India MSD, Alok Mittal, CEO of Indifi and Saikiran Krishnamurthy of xto10x Ventures. With this funding round, the company has raised over ₹80 crore, to date.
Nitin Jayakrishnan, co-founder and CEO of Pando, said, “We will continue to deepen our network offering in India, while scaling up in select strategic markets internationally, investing in technology and talent, and enhancing our transaction capabilities by working closely with our vendor-partners.”
Founded by Abhijeet Manohar and Nitin Jayakrishnan in 2017, Pando helps marquee global businesses such as Britannia, Marico, Philips and Tata, across multiple industries, automate and optimise their freight management, and connects them to logistics vendors and aggregators.
“Global logistics is going through a disruption, and large enterprises require a platform that can help them leverage these market changes to scale faster. Pando has helped shippers and transporters address this need through a full-stack solution. This convinced us to partner with them” said T.C. Meenakshisundaram, Founder MD, Chiratae Ventures.
“The global logistics market is ripe for change,” said Lak Ananth, Managing Director, Next47. “India is a huge market with unique infrastructure challenges; this represents a promising opportunity for local start ups,”he added.
Sandeep Singhal, managing director and co-founder, Nexus Venture Partners, said Pando’s India success story could be replicated in many markets.