The combined company is targeting Rs 300-400 crore in profitable revenue and could pursue an IPO within the next 18-24 months.
Fleetx.ai has acquired transportation management system provider Pando.ai for an undisclosed amount, bringing together two logistics technology businesses as the company expands its AI capabilities across fleet management and freight operations.
The acquisition will combine Fleetx.ai’s fleet visibility technology with Pando.ai’s transportation management platform. Pando.ai will continue operating as a separate brand with its existing product identity.
Fleetx.ai and Pando.ai combine logistics capabilities.
Fleetx.ai plans to add its AI technology to Pando.ai’s platform, creating a unified system that connects fleet visibility with freight execution.
Pando.ai has built a presence in India’s TMS market and works with enterprises including Sun Pharma, Honda, Castrol, Godrej, Pernod Ricard, Berger Paints, Perfetti Van Melle and Orient Electric.
Fleetx.ai, meanwhile, has spent nine years expanding from fleet visibility into AI-driven technology for logistics, construction, energy, retail and manufacturing. Its customers include UltraTech, Adani, AM/NS India, MP Birla Group, Maersk, Unilever and Mondelez.
Pando.ai leadership stays on.
Pando.ai’s entire leadership team has joined Fleetx.ai and will continue managing the Pando.ai business.
Fleetx.ai also plans to invest in Pando.ai’s products and AI capabilities as the two companies integrate their technology.
Fleetx.ai Co-Founder and CEO Vineet Sharma said the acquisition will help create an end-to-end fleet and logistics technology platform supported by AI agents.
Pando.ai CEO Badrinath Setlur said the deal will give the company greater scope to invest in AI while retaining its existing team and product.
Potential IPO in 18-24 months
The combined company is targeting ₹300-400 crore in profitable revenue as it prepares for a potential public listing.
Fleetx.ai expects to work towards an IPO over the next 18 to 24 months, although the listing remains subject to future business performance and market conditions.
The deal comes as Indian logistics companies increasingly adopt technology for fleet tracking, freight management, safety compliance and operational efficiency.
By combining Pando.ai’s transportation management capabilities with Fleetx.ai’s AI and fleet technology, the companies are positioning the combined business to serve a broader portion of India’s logistics technology market.
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Photo: Vineet Sharma, Co-Founder and CEO, Fleetx.ai
Source: Entrepreneur India
