Fleetx.ai, an AI-native fleet and logistics technology company, has acquired Pando.ai, a Transportation Management System (TMS) provider, for an undisclosed amount. The acquisition brings together fleet visibility and freight execution capabilities under a unified AI-native platform, with the combined entity also beginning preparations for a potential initial public offering (IPO) over the next 18–24 months.
Pando.ai will continue to operate as a distinct brand, retaining its product and company identity. Its entire leadership team has joined Fleetx.ai and will continue to lead the Pando.ai business. Fleetx.ai plans to further invest in Pando.ai’s product portfolio and AI capabilities.
Pando.ai has built a strong presence in India’s TMS market and works with enterprises across sectors, including Sun Pharma, Honda, Castrol, Godrej, Pernod Ricard, Berger Paints, Perfetti Van Melle and Orient Electric.
Fleetx.ai, meanwhile, has spent the past nine years expanding from a fleet visibility platform into an AI intelligence layer for physical operations across logistics, construction, energy, retail and manufacturing. Its customer base includes UltraTech, Adani, AM/NS India, MP Birla Group, Maersk, Unilever and Mondelez.
The acquisition is expected to enable the companies to offer an end-to-end technology stack spanning fleet management, visibility and freight execution, while embedding AI agents across operational workflows.
Commenting on the acquisition, Vineet Sharma, Co-Founder & CEO, Fleetx.ai, said, “Bringing Pando.ai into the Fleetx.ai fold creates a unified, end-to-end stack for fleet and logistics, powered by AI agents. To Pando.ai’s existing and future customers, this means a continued and even stronger experience, backed by high-quality products and world-class support. We’re equally excited to work closely with Pando.ai’s leadership team and build on the deep expertise they bring.”
Badrinath Setlur, Chief Executive Officer, Pando.ai, said the acquisition would allow the company to accelerate investments in AI capabilities while continuing to operate its existing business and product platform.
“Our customers have always trusted us to keep their supply chains moving. That trust doesn’t change with this acquisition—it only gets stronger. Joining forces with Fleetx.ai means we can invest even faster in the AI capabilities our customers are asking for, while our team and our product continue to operate exactly as they have,” Setlur said.
Looking ahead, the combined entity is targeting revenue of ₹300–400 crore on a profitable basis by the time of its proposed listing. The company will begin preparing for a public listing over the next 18–24 months, potentially paving the way for an IPO in the near future.
The move comes as India’s fleet and logistics sector undergoes rapid technology adoption, driven by growing trucking volumes, e-commerce expansion, industrial growth and increasing compliance requirements around GPS-based tracking and safety. Fleetx.ai is positioning the combined platform to support a shift from simply monitoring physical operations to using AI agents to analyse, plan and autonomously execute operational decisions across the logistics ecosystem.
