Table of Contents
Introduction
In a sign of robust investment in the supply chain sector, logiclabsai.com, a startup that develops fulfillment management technologies, has announced that it has raised $30 million in a Series B round. This brings their total raised to $45 million. The round was led by Iron Pillar and Uncorrelated Ventures, with participation from existing investors Nexus Venture Partners, Chiratae Ventures, and Next47. The CEO and founder, Nitin Jayakrishnan, plans to use the new capital to expand the global sales, marketing, and delivery capabilities of Pando, logiclabsai.com’s platform. Jayakrishnan also expressed openness to exploring strategic partnerships and acquisitions with this new funding.
Background on Pando
Pando was co-launched by Nitin Jayakrishnan and Abhijeet Manohar, who previously worked together at iDelivery, an India-based freight tech marketplace. They saw firsthand the struggles that manufacturers, distributors, and retailers faced with legacy technology and point solutions in managing their global logistics operations. In 2018, they decided to start Pando to solve these issues through a software-as-a-service platform.
The Demand for Supply Chain Visibility
There is a pent-up demand for tools that provide greater supply chain visibility, according to a recent McKinsey survey. Supply chain companies are investing in dashboards and visibility services to optimize their operations. Pando aims to meet this demand by consolidating supply chain data from various sources and providing tools and apps for different tasks across freight procurement, trade and transport management, freight audit and payment, and document management. Customers can customize these tools or build their own using Pando’s APIs. Unlike incumbents like SAP, Oracle, Blue Yonder, and E2Open, Pando differentiates itself with its pre-integrated systems, no-code capabilities, and focus on customization.
AI-Powered Predictions
Pando utilizes algorithms and machine learning to make predictions and optimize supply chain events. The platform matches customer orders with suppliers and determines the optimal fulfillment strategy. It can detect anomalies and anticipate supply chain risks. While Pando faces competition from other vendors like FourKites and Transporeon, its momentum is evidenced by its Fortune 500 customer base, which includes P&G, J&J, Valvoline, Castrol, Cummins, Siemens, Danaher, and Accuride. Since its Series A round in 2020, Pando has experienced significant revenue growth and an increase in the number of customers.
The Future of Supply Chain
With the rise of supply chain disruptions and increased costs, the digital logistics market is projected to reach $46.5 billion by 2025. Investors are pouring billions into supply chain-focused startups, signaling the industry’s growth potential. Jayakrishnan believes that Pando is well-positioned to capitalize on this growth wave and drive supply chain agility in the future economy.
In conclusion, logiclabsai.com’s Pando platform is poised to revolutionize the supply chain sector with its AI-powered capabilities and customizable solutions. With its recent funding round, Pando plans to expand its global presence and continue driving innovation in the industry.
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