Fleetx.ai Acquires Pando.ai to Expand Logistics Tech
Fleetx.ai acquires Pando.ai to build an AI-powered logistics platform, with the combined entity targeting INR 300-400 Cr revenue before a potential IPO.
Vineet Sharma, Co-Founder and CEO, Fleetx.ai
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Fleetx.ai, an AI-native fleet and logistics technology company, has acquired transportation management system (TMS) provider Pando.ai for an undisclosed amount.
The acquisition will bring fleet visibility and freight execution onto a unified platform, with Fleetx.ai adding its AI capabilities to Pando.ai’s existing platform. Pando.ai will continue to operate as a distinct brand with its own product and company identity.
Pando.ai works with enterprises across sectors, including Sun Pharma, Honda, Castrol, Godrej, Pernod Ricard, Berger Paints, Perfetti Van Melle and Orient Electric. The company has built its presence in India’s TMS market over the years.
Fleetx.ai has operated for nine years and has expanded from a fleet visibility platform into an AI technology provider for logistics, construction, energy, retail and manufacturing. Its enterprise customers include UltraTech, Adani, AM/NS India, MP Birla Group, Maersk, Unilever and Mondelez.
Vineet Sharma, Co-Founder and CEO, Fleetx.ai, said the acquisition will create an end-to-end fleet and logistics technology stack powered by AI agents. “To Pando.ai’s existing and future customers, this means a continued and even stronger experience, backed by high-quality products and world-class support,” he said.
Pando.ai’s entire leadership team has joined Fleetx.ai and will continue to lead the Pando.ai business. Fleetx.ai plans to invest in Pando.ai’s products and AI capabilities.
Badrinath Setlur, CEO, Pando.ai, said the acquisition will allow the company to invest further in AI capabilities while continuing to operate with its existing team and product.
The combined entity plans to prepare for a public listing over the next 18-24 months, with a potential IPO. It is targeting combined revenue of ₹300-400 crore on a profitable basis by the time of listing.
The acquisition comes as technology adoption increases across India’s fleet and logistics sector, driven by growth in trucking volumes, e-commerce and industrial activity, along with GPS-based tracking and safety compliance requirements.
Fleetx.ai, an AI-native fleet and logistics technology company, has acquired transportation management system (TMS) provider Pando.ai for an undisclosed amount.
The acquisition will bring fleet visibility and freight execution onto a unified platform, with Fleetx.ai adding its AI capabilities to Pando.ai’s existing platform. Pando.ai will continue to operate as a distinct brand with its own product and company identity.
Pando.ai works with enterprises across sectors, including Sun Pharma, Honda, Castrol, Godrej, Pernod Ricard, Berger Paints, Perfetti Van Melle and Orient Electric. The company has built its presence in India’s TMS market over the years.
