Supply chain software company Pando recently announced it raised $30 million in a Series B funding round, which brought the total funding to $45 million so far. This funding round was led by Iron Pillar and Uncorrelated Ventures with participation from existing investors Nexus Venture Partners, Chiratae Ventures, and Next47. Plus several prominent American CEOs and angel investors also participated in this round including David Dorman, Chairman of CVS Health and Director on the Boards of Dell and Paypal, Tom Noonan, Director on the Boards of New York Stock Exchange and SalesLoft, Scott Kirk of Bain Capital, Paul Brown of Dunkin’, Baskin-Robbins and Neiman Marcus, Nick Mehta of Gainsight, and Amar Goel of Pubmatic. The new funding round will be used to drive Pando’s growth across geographies and industries.
Over the past few years, supply chain disruptions have peaked, which hindered business growth and consumers’ access to quality products. And according to a recent survey (Deloitte), over 70% of manufacturing executives reported that their companies have been impacted by supply chain disruptions in the past year, and 90% of those companies experiencing increased costs and declining productivity. Plus with global enterprises investing in supply chain technology to improve agility, efficiency, and resilience, the logistics tech market is estimated to grow to $25 billion by 2025. Pando is now especially well-positioned to ride this growth wave and drive supply chain agility for the 2030 economy.
Pando’s recently launched Fulfillment Cloud is considered a ‘single pane of glass’ to streamline the end-to-end order-to-fulfillment process of manufacturers, distributors, retailers, and 3PLs. And this AI-powered, no-code platform for collaborative fulfillment has proven itself globally, improving service levels, and reducing carbon footprint and costs for several Fortune 500 enterprises like Johnson & Johnson, Procter & Gamble, Nestle, Nivea, Accuride, Danaher, Perfetti Van Melle, and BP Castrol.
KEY QUOTES:
“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. 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.”
— Mohanjit Jolly, Partner at Iron Pillar who led the Series B
“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.”
— Abhishek Sharma, Managing Director at Nexus Venture Partners who seeded the company in 2018
“Since Pando’s Series A in 2020, our revenue has grown 8x, and our customer base, 5x. We’re scaling our North America and Global business with marquee customer wins and a network of strong partners.”
— Parvesh Ghai, CRO – Asia Pacific
“Many large companies in North America and Europe are consolidating their supply chain technology from siloed point solutions to unified platforms, and in-sourcing their logistics from 3PLs. Pando’s solution is timely – its end-to-end capabilities and quantifiable value-driven success stories with marquee global brands is driving significant traction in the US market, where supply chain leaders are clamouring for change.”
— John Zimmerman, CRO – North America & Europe
“Most of the brands we love and live with 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.”
— Nitin Jayakrishnan, Pando’s CEO
“Whether we take HRMS, CRM, ITSM or SCM – ultimately, enterprise processes are data problems. Enterprises are struggling to piece together a comprehensive view of their supply chain. Just like how the world evolved from legacy applications to new-age cloud technology in these categories, supply chain software is evolving towards Pando.”
— Pando’s CTO, Abhijeet Manohar
