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Venture Capital News: Pandion Receives $30M

2021-10-05
SEATTLE, WA, Pandion has raised an oversubscribed $22.5 million Series A round, immediately followed by a $7.5M additional investment.
Pandion, the first parcel network designed specifically for the needs of e-commerce and online retailers, announced today that it will open its first sortation facility in Quakertown, Pennsylvania this fall, and has raised an oversubscribed $22.5 million Series A round, immediately followed by a $7.5M additional investment led by new investor Telstra Ventures. The Series A round was led by Bow Capital with participation from existing investors Playground Global, Schematic Ventures, AME Cloud Ventures and Innovation Endeavors. The new funds will support the hiring of more than 80 people for the Quakertown facility, as Pandion begins dynamically routing packages for Fortune 100 retailers ahead of the holiday shopping season, which is expected to see 7% more sales than last year.

Founded in 2020 by Amazon and Walmart veteran Scott Ruffin, Pandion is using machine learning to more efficiently transport e-commerce packages, saving retailers and consumers time and money.
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