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Pando Raises $30 Million From Silicon Valley Investors

According to a company statement, Pando will utilise the fund to expand its business operations across multiple geographies

Pando Raises $30 Million From Silicon Valley Investors

Outlook Start-Up Desk

POSTED ON May 04, 2023 9:22 AM

Chennai-based software-as-a-service (SaaS) platform Pando has raised $30 million in its Series B funding round. The investment round was led by Silicon Valley investors Iron Pillar and Uncorrelated Ventures. Additionally, its existing investors like Nexus Venture Partners, Chirate Ventures and Next47 also joined the round. Multiple US-based CEOs and angel investors also participated. 

According to a company statement, Pando will utilise the fund to expand its business operations across multiple geographies. It is also aiming to foray into various industries. 

Founded in 2018 by Ashok Vasan and Nitin Jayakrishnan, the company has claimed to offer SaaS products to global businesses in order to amend their freight management system. Its recently launched AI-driven no-code platform has helped multiple companies to improve their service and reduce carbon footprints. 

Talking about the latest development, Nitin Jayakrishnan, the CEO, said, "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.” 

Addressing their decision to invest in Pando, Mohanjit Jolly, Partner at Iron Pillar, added, "Pando addresses the problem holistically and, with its world-class talent in India and the US, takes a global view to IP-led product development. Their growth with multiple Fortune 500 companies is testimony to the quality of the product and management team."

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