Post Date : January 13, 2020
Pando, the market leader in providing networked logistics management software has raised INR 64 Crores in a Series A funding round led by Chiratae Ventures with participation from Siemens-backed Next47 and existing investor Nexus Venture Partners.
Prominent angel investors in this round included Ramkumar Narayan, VMWare India MSD, Alok Mittal, CEO of Indifi and Saikiran Krishnamurthy of xto10x Ventures. With this funding round, the company has raised over INR 80 crores, to date.
“This investment allows us to continue to reimagine the way freight networks operate. Pando has already delivered unprecedented value to large enterprises who have joined the network. We will continue to deepen our network offering in India, while scaling in select strategic markets internationally, investing in technology and talent, and enhancing our transaction capabilities by working closely with our vendor-partners.”~Nitin Jayakrishnan, Co-founder & CEO of Pando
Founded by Abhijeet Manohar and Nitin Jayakrishnan in 2017, Pando helps marquee global businesses like Britannia, Marico, Philips and Tata, across multiple industries, automate and streamline their freight management. In order to enable seamless transactions, it connects them to logistics vendors and aggregators.
Pando’s deep enterprise technology expertise combined with its networked transaction capability provides disproportionate value to their customers.
“We are committed to realizing value for our clients, and strongly believe that we cannot do so without thinking holistically about their freight networks,” said Abhijeet Manohar, Co-Founder & Head of Engineering.
“Global Logistics is going through a disruption, and large enterprises require a platform that can help them leverage these market changes to scale faster. Pando has helped shippers and transporters address this need through a full-stack solution. Their quality of execution at marquee customers, where Pando has become indispensable within a few months of adoption is remarkable. This convinced us to partner with them.”TC Meenakshisundaram, Founder MD, Chiratae Ventures
Lak Ananth, Managing Director, Next47 feels that the “global logistics market is ripe for change”. He also expressed that this investment represents a promising opportunity for local startups.
Pando is Next47’s first investment in India. Next47 is a global venture firm created by Siemens that invests in, and partners with, entrepreneurs who build industry-defining companies. With offices distributed across the world, it gives start-ups unparalleled access to one of the world’s largest portfolios of customers in the areas of industry, energy and infrastructure as well as domain expertise in the deep technologies that impact those customers.