Chennai headquartered Pando has announced its Series B funding of $30 million, bringing total capital raised so far, to $45 million. Led by Iron Pillar, the round saw participation from Uncorrelated Ventures, Nexus Venture Partners, Chiratae Ventures, Next47 and prominent angel investors.
Several prominent American CEOs and angel investors participated in this round. The fresh funds will be used to drive Pando’s growth across geographies and industries.
Mohanjit Jolly, partner at Iron Pillar who led the Series B, said: “The Logistics Tech market is ripe for disruption – there is high demand caused by volatility, legacy competition that is trying to catch up and a trend towards bundling point solutions. Pando addresses the problem holistically and, with its talent in India and the U.S., takes a global view to IP-led product development.”
Parvesh Ghai, CRO – Asia Pacific, Pando, said: “Since Pando’s Series A in 2020, our revenue has grown 8x, and our customer base, 5x. We are scaling up our North America and Global business with marquee customer wins and a network of strong partners.”
“Most of the brands we love and live with are weighed down by legacy logistics tools that make their products less affordable, accessible and eco-friendly. Pando’s platform allows these brands to automate manual processes, modernise legacy systems and plug the gaps between tools without multi-year transformations, delivering change here and now,” said Nitin Jayakrishnan, Pando’s CEO.
Published - May 03, 2023 10:07 pm IST
