Iron Pillar Leads $30 Million In The Logistics Of SaaS Firm Pando

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Pando, a supply chain technology firm, has raised $30 million in a Series B funding round led by Iron Pillar. The round also saw participation from Uncorrelated Ventures, angel investors, and existing investors Nexus Venture Partners, Chiratae Ventures, and Next47. Pando’s Fulfillment Cloud provides manufacturers, retailers, and 3PLs with a single pane of glass to streamline the end-to-end order-to-fulfillment process to improve service levels and reduce carbon footprint and costs. The company claims that its ARR has increased from $100,000 in its first year to around $4.4 million by the end of 2022. The funds will be used to expand the company’s global footprint, with a focus on the US and the Middle East.

Founded by Ashok Vasan and Nitin Jayakrishnan in 2018, Pando has helped global businesses to optimize their freight management, and connect them to logistics vendors and aggregators.

According to Pando, it earns about half of its revenue from Asia Pacific and the rest from the US. The company recently claimed Its ARR has increased from $100,000 in its first year to around $4.4 million by the end of 2022.

 It’s impressive to see Pando’s growth in just a few years, especially with its focus on optimizing freight management and connecting businesses to logistics vendors and aggregators. It’s also interesting to note that half of its revenue comes from the Asia Pacific region, with the other half from the US. With the recent $30 million Series B funding led by Iron Pillar, it will be exciting to see how Pando continues to grow and expand its operations globally.