Supply chain software provider Pando announced that it has raised $30 million in its Series B funding round led by Silicon Valley investors Iron Pillar and Uncorrelated Ventures.
The round, which brings the startup’s total capital raised to $45 million, was also backed by existing investors Nexus Venture Partners, Chiratae Ventures, and Next47, along with prominent CEOs and angel investors in the US, according to the announcement.
The funds will be used to drive Pando’s growth across geographies and industries, as supply chain disruptions have reached an all-time high and the logistic tech market is expected to grow to $25 billion by 2025.
A recent Deloitte survey found that over 70% of manufacturing executives have experienced supply chain disruptions in the past year, leading to increased costs and declining productivity.
Founded by Nitin Jayakrishnan and Abhijeet Manohar in 2017, Pando helps global businesses automate and optimise their freight management, and connects them to logistics vendors and aggregators to enable seamless transactions.
Its AI-powered, no-code Fulfillment Cloud platform allows manufacturers, retailers, and 3PLs to streamline their order-to-fulfillment process to improve service levels and reduce carbon footprint and cost.
Jayakrishnan, Pando’s CEO, said most brands 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, modernize legacy systems and plug the gaps between tools without multi-year transformations, delivering change here and now,” he stressed.
The Series B funding round comes more than three years after the Chennai-based startup raised about $9 million in a Series A funding round led by Chiratae Ventures. Next47 also participated in that funding round, marking its first investment in India.
Pando is now expanding into new industries and geographies, particularly the US market, where supply chain players are demanding change.