PandoCorp Pvt. Ltd, which administers Pando, has secured INR 64 crore in Series A funding round. Chiratae Ventures has led the latest funding round in the startup.
Other investors that participated in the funding round include the Siemens-backed Next47 and existing investor Nexus Venture Partners, VC Circle reported citing the companys official statement.
Angel investors that have infused money in the funding round incorporate Ramkumar Narayanan, Executive at VMWare India, Saikiran Krishnamurthy, Co-founder and CEO at xto10x Ventures and Alok Mittal, CEO at Indifi, reported the cited media agency.
The latest transaction takes the total funding raised by Pando to Rs 80 crore, Pando added.
The current transaction is counted as Next47s first investment in India.
It has offices around the world and provides startups with access to customers in the industrial, energy and infrastructure sectors, Chiratae Ventures said in the companys official statement.
The funds will be used for strengthening its India offering, scaling for global markets, boost its technological platform, acquire talent and enhance its transactional capabilities, Nitin Jayakrishnan, Co-founder and CEO at Pando, said in the companys official statement.
Pando has helped shippers and transporters address this need through a full-stack solution. Their quality of execution at marquee customers, where Pando has become indispensable within a few months of adoption is remarkable, Meenakshi Sundaram, Founder and MD at TC, Chiratae Ventures said.