Pando secures $30M in Series B funding led by Iron Pillar and Uncorrelated Ventures
- ByStartupStory | May 4, 2023
Pando, a company that specializes in providing a platform for software development teams to collaborate efficiently, has secured $30 million in its Series B funding round. The funding was led by Iron Pillar and Uncorrelated Ventures, with participation from other notable investors such as Nexus Venture Partners, Chiratae Ventures, and Next47. In addition, several prominent American CEOs and angel investors, including David Dorman, Tom Noonan, Scott Kirk, Paul Brown, Nick Mehta, and Amar Goel, also contributed to the funding round. This latest investment is expected to help Pando expand its operations and further develop its innovative platform.
Pando, a company based in Chennai, India, has announced plans to utilize its recently raised funds to fuel its expansion efforts across various industries and geographical locations. With a total funding of $45 million, which includes the latest investment, Pando is poised to disrupt the logistics technology market that is experiencing high demand, volatility, and intense competition from legacy players. According to Mohanjit Jolly, Partner at Iron Pillar, the current trend towards bundled point solutions further underscores the potential for innovation in this industry.
Iron Pillar’s Partner, Mohanjit Jolly, expressed excitement in partnering with Pando, citing the company’s approach to talent management across India and the United States, as well as its global perspective on IP-led product development. Jolly also commended Pando’s dedication to building a large and sustainable business, noting that this was a crucial factor that captured their interest. Furthermore, Iron Pillar aims to leverage its vast network of partners, customers, and strategic capital to support Pando’s growth and expansion initiatives.
Pando was established in 2018 by Nitin Jayakrishnan and Abhijeet Manohar with a vision to create a platform that connects all the key players in the supply chain, including manufacturers, warehouses, distributors, retailers, retail stores, consumers, factories, and their suppliers. The company’s CEO, Nitin Jayakrishnan, stated that Pando’s platform helps automate manual processes, modernize legacy systems, and bridge gaps between tools without the need for lengthy transformation periods. This results in prompt and efficient change implementation that benefits businesses and stakeholders.
Pando recently unveiled the Fulfilment Cloud, a platform that streamlines the end-to-end order-to-fulfillment process for manufacturers, distributors, retailers, and third-party logistics providers. This ‘single pane of glass’ solution simplifies and enhances the operational efficiency of the entire supply chain ecosystem. Currently, Pando boasts a customer base of over 50 large businesses worldwide, including Nestle, Procter and Gamble, ITC, Godrej, Honda, Johnson and Johnson, Accuride, Nivea, and Philips. According to John Zimmerman, CRO – North America and Europe, many leading companies in North America and Europe are moving towards unified platforms and insourcing their logistics from 3PLs, highlighting the potential for Pando’s offerings.
John Zimmerman, CRO – North America and Europe, emphasized the relevance of Pando’s platform, citing its end-to-end capabilities and proven track record of delivering quantifiable value to marquee global brands. Zimmerman noted that Pando’s solution comes at a crucial time, with supply chain leaders in the US market actively seeking transformative solutions to modernize their operations. As a result, Pando has gained significant traction in this market, and its offerings have received widespread recognition and demand.
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