Logistic Firm Pando Raises USD 2 Million From Nexus Venture Partners

Create: Wed, 04/18/2018 - 08:54
Author: Anonymous
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Porter Logistics

Pando Corp Pvt. Ltd, a Bangaluru-based logistics platform has raised money in their seed round funding. Nexus Venture Partners led the funding round which saw Pando getting $2 million (Rs 13.08 crore).

Kashyap Deorah of Hypertrack, Girish Mathrubootham of Freshworks, Nishant Rao of Sirion Labs and the ex-LinkedIn India chief executive, and P Balaji of Vodafone were few of the other investors who participated in the funding round.The firm plans to use the fresh capital for their product development and hire fresh talent as well.

Pando was founded in 2016 by Nitin Jayakrishnan and Abhijeet Manohar helps firms of all sizes to digitise, monitor and optimise their supply chain operations. The platform helps companies to have a control as they get access to fragmented, multi-tiered logistics ecosystems from a single screen.

Pando Team

Talking about the investment, the CEO Jayakrishnan said that “This investment is a shot in the arm for the team to continue to reimagine logistics, from being a heavy, cumbersome cost-center, to being a robust digital foundation to any business. We will continue to focus on products and people, to ease and enable commerce through digital deliveries.” The company claims to have several fortune 500 firms as their clients in the industry which has a $200 billion of business every year in the country.

According to Sandeep Singhal, the co-founder and managing director of Nexus Venture Partners, Pando has the potential to go global. “Pando is enabling enterprises to turn their supply chain management function from a cost-center to a source of competitive differentiation by providing real-time visibility and seamless digital links across the value chain,” said Singhal.

Tankeshwar Baishya, senior director for supply chain at Philips Lighting while talking about the reason to back the firm said that “Pando gets our entire ecosystem of vendors, co-makers, drivers and customers to follow one standardised digital workflow, allowing us to control and optimise at every step. Pando covers our entire value chain.”

 

Image Courtesy : Indianweb2

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