Chennai's Supply Chain SaaS Start-up Dominates the Global Enterprise Arena

Pando, a Chennai-based supply-chain SaaS tech startup, found its inspiration in the interconnectedness of a quaking aspen clone called Pando in central Utah, where 47,000 individual "trees" are connected by a single root system. Founded in 2018 by Nitin Jayakrishnan and Abhijeet Manohar, Pando aimed to connect stakeholders across the supply chain, including manufacturers, warehouses, distributors, retailers, and more, offering a comprehensive platform driven by AI, a no-code approach, and collaboration.

The inception of Pando can be traced back to the founders' earlier venture, iDelivery Tech Solutions Private Limited, a digital freight marketplace. While serving clients like Philips and ITC Limited, they noticed a growing demand for features that could integrate with existing supply chain products. This led to the birth of Pando as a separate company in 2018, focusing on high-gross-margin SaaS solutions.

Pando's unique approach involved targeting enterprises right from the start. They secured their first customer, Philips India, by pitching an idea without a fully developed product, team, or funding. Philips India subscribed to Pando for three years, marking the beginning of Pando's journey. This success was attributed to Pando's core principles: AI capabilities, a no-code approach, and a collaborative network-based platform.

Early challenges included addressing specific feature requests from diverse customers while maintaining a scalable SaaS model. To overcome this, Pando built a flexible end-to-end platform based on processes rather than creating customized solutions for each client.

Pando's business model focuses on large enterprises dissatisfied with their existing supply chain solutions. They integrate with clients' ERP systems, competing with established players like SAP and Oracle. Pando collaborates with IT companies like TCS, Accenture, and Genpact for marketing and delivery, ensuring revenue sharing.

Geographically, Pando initially targeted Indian companies, then expanded to the Asia Pacific and finally entered the North American market. Their traction in the US has been exceptional, with impressive customer growth and an ARR of around $4.4 million by the end of 2022. Fortune 10 and Fortune 500 companies, such as Procter & Gamble, The Kraft Heinz Company, and Johnson & Johnson, are among their clients.

Pando aims to triple its growth in the next 12-18 months, primarily driven by global accounts and US customers. Their focus is on maintaining high gross margins (70-80%) while achieving profitability. Pando currently earns half of its revenue from the Asia Pacific and plans to emphasize global accounts headquartered in the US while not neglecting the growing Asian market.

The company has secured over $11 million in funding from investors like Nexus Venture Partners, Chiratae Ventures, and Next47. With 250 employees currently, they are set to hire an additional 150 by the end of 2023, aiming to reach operational profitability within the same timeframe. Pando's ultimate goal is to build a sustainable and enduring business.