Pando raises $30M in Series B round led by Iron Pillar and Uncorrelated Ventures

Supply chain software platform Pando has raised $30 million in a Series B funding round 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 also saw participation from several prominent American CEOs and angel investors, including David Dorman, Chairman of CVS Health and Director on the Boards of Dell and Paypal; Tom Noonan, Director on the Boards of the 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.

Chennai-based Pando plans to use the funds to drive its growth across geographies and industries. 

So far, the startup has raised a total of $45 million, including the latest funding.

"The logistics technology 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," said Mohanjit Jolly, Partner at Iron Pillar.

"Pando addresses the problem with its talent in India and the US, takes a global view of IP-led product development. Their focus on building a large, long-term business is what got us excited to partner. We are eager to leverage its global network of customers, partners, strategic capital, and more to help accelerate its journey," he added.

Founded by Nitin Jayakrishnan and Abhijeet Manohar in 2018, Pando strives to connect various stakeholders in the supply chain—manufacturers, warehouses, distributors, retailers, retail stores, consumers, factories, and their suppliers.

"Our platform allows these brands to automate manual processes, modernise legacy systems, and plug the gaps between tools without multi-year transformations, delivering change here and now," said Nitin Jayakrishnan, Pando’s CEO.

Pando recently launched Fulfilment Cloud, a ‘single pane of glass’ to streamline the end-to-end order-to-fulfilment process of manufacturers, distributors, retailers, and third-party logistics (3PL) providers. Currently, it has over 50 large customers across the world, including Godrej, Honda, Johnson and Johnson, Accuride, Nivea, Philips, Nestle, Procter and Gamble, and ITC.

"Many large companies in North America and Europe are consolidating their supply chain technology from siloed point solutions to unified platforms and insourcing their logistics from 3PLs," said John Zimmerman, CRO – North America and Europe. 

"Pando’s solution is timely; its end-to-end capabilities and quantifiable value-driven success stories with marquee global brands are driving significant traction in the US market, where supply chain leaders are clamouring for change," he added.

(The story was updated with an additional picture of Pando's co-founders.)