PandoCorp Pvt. Ltd, a start-up that digitizes logistics operations for companies, on Monday said it has raised $2 million in a round led by Nexus Venture Partners.
Kashyap Deorah, founder and chief executive officer at Hypertrack, Freshdesk chief executive Girish Mathrubootham, and Nishant Rao, a former India chief at LinkedIn, among others, invested in the round.
PandoCorp was set up in December 2016 with an aim to digitize and streamline often fragmented logistics operations that may encompass multiple entities, nodes, devices and systems, the company said in a statement.
Its product, Pando, a logistics management solution for enterprises, helps companies monitor and optimize their supply-chain operations over a single dashboard, leading to higher efficiency.
“Pando is enabling enterprises to turn their supply chain management function from a cost-centre to a source of competitive differentiation by providing real-time visibility and seamless digital links across the value chain,” said Sandeep Singhal, managing director at Nexus.
The solution is well received by Indian customers and the company plans to pitch it to global clients in the next phase of growth, he added.
The start-up will use the funds from the latest round towards client acquisition and product growth.
“This investment is a shot in the arm for the team to continue to re-imagine logistics — from being a heavy, cumbersome cost-center, 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,” said founder and CEO Nitin Jayakrishnan.
Source: Mint