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Supply chain firm Iron Pillar leads Pando's $30 mn series B funding

2023-05-05

Pando, a supply chain and logistics software-as-a-service (SaaS) company, raised $ 30 million in Series B funding from Iron Pillar, a venture growth investor with a focus on technology. Pando, a company with headquarters in San Jose, California, and product development in Chennai, India, has received a $ 12 million investment from Iron Pillar. Other well-known SaaS software companies that Iron Pillar has invested in include Jiffy.ai, CoreStack, Ushur, Uniphore, and Ushur.

Uncorrelated Ventures, well-known American CEOs and angel investors, together with previous investors Nexus Venture Partners, Chiratae Ventures, and Next47, joined Iron Pillar in the Pando investment. The main reason Pando's founders and current investors chose to engage with Iron Pillar was to take advantage of the company's global reach, hands-on approach to supporting entrepreneurs, vast network of partners, and clients, particularly in the US and the Middle East.

Businesses can no longer rely on outdated, compartmentalised logistics systems to create products that are accessible, inexpensive, and sustainable as supply chain interruptions become the norm.

Supply chain disruptions have increased over the past few years as a result of the pandemic, climate change, geopolitical unrest, and other issues. These are posing serious problems for businesses and restricting consumers' access to high-quality goods. In a recent poll conducted by Deloitte, more than 70% of manufacturing executives stated that their businesses had been impacted by supply chain problems in the previous year, with 90% of those businesses reporting rising costs and falling productivity.

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