Supply chain enterprisetech platform Pando raised $30 million in Series B led by venture capital (VC) firm Iron Pillar where Uncorrelated Ventures, as well as other existing investors such as Nexus Venture Partners, Chiratae Ventures and Next47. Besides, multiple angel investors, including many American CEOs, also participated.
Mohanjit Jolly, a partner at Iron Pillar, has joined the board of the Chennai-based firm as part of the agreement.
The agreement will allow Pando to tap into Iron Pillar’s broad network of partners and clients, particularly in the United States and the Middle East. The startup also intends to leverage the VC firm’s global footprint to expand its operations globally.
Pando, founded in 2017 by Abhijeet Manohar and Jayakrishnan, is an AI-backed supply chain platform that enables organisations to automate the end-to-end order fulfilment process while enhancing service levels and lowering costs. In essence, it provides a one-stop shop platform for manufacturers, retailers, and logistics organisations to work with suppliers and customers to improve deliveries.
The latest round of funding comes more than three years after the business raised $9 million in a round headed by Chiratae Ventures, with participation from Nexus Venture Partners, Next47, and others. Including the most recent round of funding, the startup has raised $11.6 million since its inception.
Pando serves a number of Fortune 500 firms, including Nestle, Nivea, Johnson & Johnson, Perfetti Van Melle, and BP Castrol. It competes globally in multiple verticals with US-based Turvo and Slync, as well as indigenous players like Shiprocket and Pickr.
