Pando raises $30M in funding to grow its AI-powered supply chain platform
Supply chain disruptions have reached their peak in recent years, hindering business growth and limiting consumers’ access to quality products. In addition, siloed logistics software has also hampered business operations. In a recent survey conducted by Deloitte, over 70% of manufacturing executives reported that their companies were impacted by supply chain disruptions in the past year, with 90% of those companies experiencing increased costs and declining productivity.
With global enterprises seeking to improve agility, efficiency, and resilience through investment in supply chain technology, the logistics tech market is projected to grow to $25 billion by 2025. That’s why one logistics tech startup is on a mission to address these challenges and drive supply chain agility for the 2030 economy.
Enter Pando, a Silicon Valley-based startup and provider of Pando AI-powered no-code Fulfillment Cloud platform that unifies logistics data including rates, carriers, costs, contracts, customers, and suppliers, while also bringing together logistics stakeholders and unifying your processes in one place.
Today, Pando announced it has raised $30 million in Series B funding led by marquee Silicon Valley investors Iron Pillar and Uncorrelated Ventures, with participation from existing investors Nexus Venture Partners, Chiratae Ventures, and Next47.
The round, which brings the company’s total funding raised to $45 million, also includes backing from prominent CEOs and angel investors. Pando will use the funding proceeds to drive growth across geographies and industries.
Founded in 2016 by Abhijeet Manohar and Nitin Jayakrishnan (right), Pando provides a platform for businesses to optimize their supply chain operations. The platform uses machine learning and artificial intelligence to provide real-time visibility and predictive analytics, enabling businesses to make data-driven decisions and improve their supply chain performance.
Mohanjit Jolly, Partner at Iron Pillar, 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 world-class talent in India and the US, takes a global view to IP-led product development.”
Mohanjit continued: “Their growth with multiple Fortune 500 companies is testimony to the quality of the product and management team, but their focus on building a large long-term business is what got us excited to partner with Abhijeet and Nitin. Iron Pillar is eager to leverage its global network of customers, partners, strategic capital, and more to help accelerate Pando’s journey.”
Pando.ai’s Fulfillment Cloud is a no-code platform powered by AI that offers a streamlined end-to-end order-to-fulfillment process for manufacturers, retailers, distributors, and 3PLs. This “single pane of glass” has been successfully deployed globally and has improved service levels, reduced carbon footprint, and cut costs for several Fortune 500 companies, including Nestle, Johnson & Johnson, Procter & Gamble, Nivea, Danaher, Accuride, Perfetti Van Melle, and BP Castrol.
“Pando’s Fulfillment Cloud has been proven across several industries in the last few years, with strong revenue growth, marquee customer logos, high CSATs, and a fully built-out enterprise-grade platform. Pando is now expanding into new industries and geographies, especially the US.” said Abhishek Sharma, Managing Director at Nexus Venture Partners who seeded the company in 2018.