Global supply chains, across sectors, across industries, haven’t remained the same in this post COVID world. And even though most things might seem to have returned to “normal”, there have been some permanent disruptions made to global supply chains, specially in manufacturing, that seem far from normal. Pando, which has developed an AI-powered no-code platform, promises to ease such supply chain disruptions. And it has now found capital to realise that promise.
The Chennai (India)/San Jose (US) based supply chain software maker announced a $30Mn Series B today, led by marquee Silicon Valley investors Iron Pillar and Uncorrelated Ventures. The round also saw participation from existing investors Nexus Venture Partners, Chiratae Ventures and Next47. This round brings the total capital raised by Pando, to $45Mn.
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. The global logistics tech market is expected to reach a staggering $25Bn by 2025, and Pando believes, it is in just the right position to leverage that.
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.
“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.
This fresh infusion of capital is expected to help Pando expand across geographies.
“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.” added Abhishek Sharma, Managing Director at Nexus Venture Partners who seeded the company in 2018.