Total amount raised
$41 Millions
Latest funding date
05/01/2023
Location
Pando has successfully raised significant funding over multiple rounds, with its latest being a Series B. The company offers AI agents for logistics, enabling manufacturers, distributors, and retailers to automate their logistics operations.
Keep reading to explore the intricacies of Pando's fundraising journey and the investors backing this innovative platform.
What Is Pando?
Pando, founded in 2015, is headquartered in Chicago, Illinois. The company operates in the logistics and supply chain management industry, offering AI-driven solutions to automate logistics operations. Pando's innovative platform is designed to help manufacturers, distributors, and retailers enhance efficiency, control costs, and reduce emissions.
The company was founded by Abhijeet Manohar and Nitin Jayakrishnan. With an employee count ranging between 251-500, Pando is recognized for its cutting-edge AI capabilities and has garnered trust from global enterprises. Their solutions are aimed at replacing manual, error-prone tasks with intelligent automation, driving operational excellence and cost reduction.
How Much Funding Has Pando Raised?
- Seed Round
- Amount Raised: $2M
- Date: April 2018
- Lead Investors: Nexus Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch Pando's AI-driven logistics platform, aiming to automate logistics operations and enhance supply chain efficiency.
- Series A
- Amount Raised: ₹640M (approximately $8.5M)
- Date: January 2020
- Lead Investors: Chiratae Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial growth and development of Pando's platform and establish a foothold in the supply chain technology market.
- Series B
- Amount Raised: $30M
- Date: May 2023
- Lead Investors: Iron Pillar, Uncorrelated Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive Pando's growth across geographies and industries, enhance supply chain agility, and expand the adoption of Pando's Fulfillment Cloud platform.
Total Amount Raised: $40.5M
Current Valuation: Not publicly disclosed
Key Investors
- Iron Pillar
- Details: Iron Pillar is a Silicon Valley-based venture capital firm that led Pando's Series B funding round. The firm focuses on high-growth technology companies.
- Investment Focus Areas: Technology, growth-stage companies, innovation.
- Notable Investments: Not explicitly mentioned in the sources.
- Uncorrelated Ventures
- Details: Uncorrelated Ventures is another Silicon Valley-based venture capital firm that participated in Pando's Series B funding round. The firm invests in innovative technology solutions.
- Investment Focus Areas: Technology, innovative startups, disruptive technologies.
- Notable Investments: Not explicitly mentioned in the sources.
- Nexus Venture Partners
- Details: Nexus Venture Partners is a venture capital firm that seeded Pando in 2018. The firm focuses on early-stage and growth-stage technology companies.
- Investment Focus Areas: Early-stage companies, technology, growth-stage companies.
- Notable Investments: Delhivery, Postman.
- Chiratae Ventures
- Details: Chiratae Ventures is a venture capital firm that has been an existing investor in Pando. The firm focuses on technology-driven businesses.
- Investment Focus Areas: Early-stage companies, technology, startups.
- Notable Investments: Myntra, Lenskart.
- Next47
- Details: Next47 is a venture capital firm that participated in Pando's Series B funding round. The firm focuses on scaling innovative startups.
- Investment Focus Areas: Technology, innovation-driven companies, startups.
- Notable Investments: Not explicitly mentioned in the sources.
What's Next for Pando?
Pando is poised to capitalize on the burgeoning logistics tech market, projected to reach $25 billion by 2025. With its AI-powered Fulfillment Cloud, the company is set to expand into new industries and geographies, particularly in the US. This platform has already gained traction among Fortune 500 companies, enhancing service levels and reducing costs.
Future fundraising opportunities appear promising as Pando continues to grow and attract more investors. The company may pursue additional funding rounds to support its expansion and technological advancements. However, Pando will need to navigate challenges such as competition from legacy logistics tools and managing rapid growth across different regions.
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