Pando, a networked freight management platform, has raised ₹64 Cr in Series A funding round led by Chiratae Ventures. The round also saw participation from existing investor Nexus Venture Partners, and Siemens-backed Next47. Angel investors like Ramkumar Narayan, VMWare India MSD, Alok Mittal, CEO of Indifi, and Saikiran Krishnamurthy of xto10x Ventures also participated in this round. The company was founded by Nitin Jayakrishnan in 2015.
The company will utilize these funds to scale into international markets and invest in technology and talent.
In a media statement, Nitin Jayakrishnan, Co-founder and CEO of Pando, said, “This investment allows us to continue to reimagine the way freight networks operate. Pando has already delivered unprecedented value to large enterprises who have joined the network. We will continue to deepen our network offering in India, while scaling in select strategic markets internationally, investing in technology and talent, and enhancing our transaction capabilities by working closely with our vendor partners.”
Pando Enterprise is the region’s first open-market digital delivery management platform, that allows large, distributed businesses to take control of their supply-chain, and transforms logistics from a clunky, dinosaur of a cost-center, to a valuable opportunity for customer acquisition, retention and value.
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