Pando, an India-based supply chain-focused software-as-as-service (SaaS) provider, raised $30 million in a Series B funding round led by Iron Pillar, bringing Pando’s total raised to $45 million.
Uncorrelated Ventures and existing investors Nexus Venture Partners, Chiratae Ventures, and Next47 also participated in the round.
Several angel investors, including CVS Health chairman David Dorman, New York Stock Exchange board director Tom Noonan, Bain Capital partner Scott Kirk, Inspire Brands co-founder Paul Brown, Gainsight chief executive Nick Mehta, and Pubmatic’s founder Amar Goel also invested.
Pando plans to use the fresh funds to drive the company’s growth across geographies and industries.
“The capital will power a bigger brand and deepen our sales presence in Asia and the US. It will also strengthen our investments in R&D, especially in our AI and no-code capabilities to put power in the hands of supply chain leaders who drive business growth and agility,” said Nitin Jayakrishnan - Co-Founder and CEO of Pando.
Pando provides a no-code cloud platform, which helps manufacturers, distributors, retailers, and third-party logistics services providers streamline the end-to-end order-to-fulfillment process. It claims that its services improve service levels and reduce carbon footprint and costs.
Company: PandoCorp Private Limited
Raised: $30.0M
Round: Series B
Funding Month: May 2023
Lead Investors: Iron Pillar
Additional Investors: Uncorrelated Ventures, Nexus Venture Partners, Chiratae Ventures and Next47, David Dorman, Tom Noonan, Scott Kirk, Paul Brown, Nick Mehta, and Amar Goel
Company Website: https://pando.ai/
Software Category: Supply Chain Software
About the Company: Founded by Nitin Jayakrishnan and Abhijeet Manohar in 2017, Pando is a supply chain technology company that provides an 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. As a partner of choice for Fortune 500 enterprises globally, with a presence across APAC and the US Pando counts several Fortune 500 enterprises such as Johnson & Johnson, Procter & Gamble, Nestle, Nivea, Accuride, Danaher, Perfetti Van Melle, BP Castro, among those who use its cloud platform. It has a presence in Asia Pacific and the US.
Source: https://www.vccircle.com/ironpillar-leads-series-b-round-in-saas-startup-pando