Private Equity

PE Fund Investments

Supply chain s'ware platform Pando raises $30-M

Press Release  

Chennai-based logistics management software startup Pando has raised USD 30 million in a Series B round led by Iron Pillar and Uncorrelated Ventures. Existing investors Nexus Venture Partners, Chiratae Ventures and Next47 also joined the round which also saw participation from several CEOs and angel investors, including David Dorman, chairman of CVS Health; Tom Noonan, director of the New York Stock Exchange; Scott Kirk of Bain Capital; Paul Brown of Dunkin; Nick Mehta of Gainsight; and Amar Goel of Pubmatic. Pando plans to use the funds to drive its growth across geographies and industries. Founded in 2018, Pando helps global businesses optimize their freight management and connects them to logistics vendors and aggregators. It earns about half of its revenue from Asia Pacific and the rest from the US. It claims to have over 50 large customers including Godrej, Honda, Johnson and Johnson, Accuride, Nivea, Philips, Nestle, Procter and Gamble, and ITC.

From the Venture Intelligence PE-VC Deal Database: In January 2020, Pando had raised USD 9 million in a Series A round led by Chiratae Ventures with participation from Nexus Venture Partners, Siemens and others. In Apr-18, Nexus had made an about $2 M seed investment. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)