Bengaluru-based Pando, a startup digitising the logistics operations for majorly Fortune 500s and global blue-chips, has raised $2 Mn in a Seed round of funding led by Nexus Venture Partners.
Kashyap Deorah at Hypertrack, Girish Mathrubootham at Freshdesk, Nishant Rao at Sirion Labs (Ex-LinkedIn India MD) and P Balaji at Vodafone (Ex-Nokia, Sony Erickson India MD) also participated in the latest funding round.
Nitin Jayakrishnan, Founder and CEO, said, “This investment is a shot in the arm for the team to continue to reimagine logistics — from being a heavy, cumbersome cost-centre, to being a robust, digital foundation to any business. We have seen encouraging adoption from Fortune 500s and global blue-chips. We will continue to focus on product and people, to ease and enable commerce through digital deliveries.”
Pando: What The Startup Is Doing And How It Is Doing That?
Pando was built on a simple observation — logistics is inherently networked, but the systems that manage it are not. In India alone, outsourced logistics rake up $200 Bn every year. Globally, this number is close to $10 Tn, as shared by Pando CEO.
While there has been a lot of digitisation and investments in the supply (transporter) side of the ecosystem in the recent past, Pando solves a key problem of convergence, on the demand (shipper or enterprise) side of the ecosystem, which is a large, global white-space.
As Nitin shared in a Medium blog, “Let’s say you order a meal through an app. It costs you about 300 bucks and takes approx 45 minutes to arrive. You can get the ETA, track the order, pay for it, and rate the experience, at the touch of a button. Now let’s say you ordered something worth 300,000 bucks, was fragile and takes weeks to arrive. Would you expect a similar experience?”