Fresh funds will drive growth across geographies and industries, says Pando
Silicon Valley investors Iron Pillar and Uncorrelated Ventures have backed the US$30 million Series B funding by San Jose-headquartered with Pando, a supply chain software company that have raised US$45 million capital to date and operates in the APAC markets through Chennai regional HQ.
Existing investors Nexus Venture Partners, Chiratae Ventures and Next47 were joined in the funding by several prominent American CEOs and angel investors. These were 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 fresh funds will be used to drive growth across geographies and industries, Pando said on 4 May 2023.
In the last few years, supply chain disruptions have peaked, hindering business growth and consumers’ access to quality products.
According to a recent Deloitte survey, over 70% of manufacturing executives reported that their companies have been impacted by supply chain disruptions in the past year, with 90% of those companies experiencing increased costs and declining productivity.
With global enterprises investing in supply chain technology to improve agility, efficiency and resilience, the logistics tech market is estimated to grow to US$25 billion by 2025.
Pando said it is well-positioned to ride this growth wave, and drive supply chain agility for the 2030 economy.
Investors see Pando’s platform as critical in the modern supply chain toolkit to bring innovation and resilience to the industry.
Mohanjit Jolly, Partner at Iron Pillar who led the Series B, believes that Pando is uniquely positioned to be a global leader in this growing category.
“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,” said Jolly.
“Iron Pillar is eager to leverage its global network of customers, partners, strategic capital and more to help accelerate Pando’s journey.”
Pando’s recently launched Fulfillment Cloud is a ‘single pane of glass’ to streamline the end-to-end order-to-fulfillment process of manufacturers, distributors, retailers and 3PLs.
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 such as Johnson & Johnson, Procter & Gamble, Nestle, Nivea, Accuride, Danaher, 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.
Parvesh Ghai, CRO – Asia Pacific, agrees, “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.”
John Zimmerman, CRO – North America & Europe, elaborated, “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.”
“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,” said Nitin Jayakrishnan, Pando’s CEO.
Pando’s CTO, Abhijeet Manohar, said, “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 is a global leader in supply chain technology with its AI-powered, no-code Fulfillment Cloud platform. Pando’s Fulfillment Cloud provides manufacturers, retailers, and 3PLs with a single pane of glass to streamline the end-to-end order-to-fulfillment process to improve service levels and reduce carbon footprint and costs. fiinews.com
