Logistics SaaS firm Pando secured $30 M Series B funding from Iron Pillar
Pando, a startup providing software for logistics management, has raised $30 million in a Series B round led by Iron Pillar. Additionally participating in the round were Uncorrelated Ventures, well-known angel investors, Nexus Venture Partners, Chiratae Ventures, and Next47.
Pando, a San Jose-based company with a team in Chennai responsible for product development, has received $12 million from Iron Pillar alone. After three years for the company, new funding arrived. It received $9 million in a Series A round led by Chiratae in January 2020.
According to a press release from the company, Pando’s founders and current investors chose to work with Iron Pillar in part because of the company’s global reach, hands-on approach to supporting entrepreneurs, a large network of partners, and customers, particularly in the US and the Middle East.
A supply chain technology company called Pando offers a Fulfillment Cloud that unifies the end-to-end order-to-fulfillment process for manufacturers, retailers, and 3PLs, enhancing service levels while lowering costs and carbon footprint.
Pando, a company founded in 2018 by Ashok Vasan and Nitin Jayakrishnan, has assisted multinational corporations in streamlining their freight management and connecting them with logistics suppliers and aggregators.
Pando claims that the US and Asia Pacific together account for the majority of its revenue. The company recently asserted that by the end of 2022, its ARR will have grown from $100,000 in its first year to approximately $4.4 million.
Recently, Iron Pillar closed its $129 million Global Cloud Fund II, which was created to invest in SaaS businesses based in India. It also invests in other well-known SaaS software firms, such as Jiffy.ai, Uniphore, CoreStack, Ushur, and Servify.
