Pandion Emerges from Stealth with $4.9 Million for More Reliable, Lower Cost E-commerce Shipping
Pandion, the first parcel network designed for the unique challenges of e-commerce, emerged from stealth today and announced the close of a $4.9 million seed round led by Playground Global and Schematic Ventures, with participation from AME Cloud Ventures and Innovation Endeavors. Pandion will use the proceeds from this round to grow the team and expand ongoing customer pilots.
“As one of the top minds in logistics, Scott is uniquely skilled and motivated to help retail businesses deliver their products to customers more reliably and affordably.”
Pandion’s founder and CEO, Scott Ruffin, has over 20 years of experience in logistics as the founder and former head of Amazon Air, and the former vice president and head of Walmart’s e-commerce transportation division. Pandion’s technology was purpose-built for the demands of modern e-commerce. It is the long-term scalable solution for capacity problems during peak periods.
E-commerce currently relies on outdated parcel providers that lack the ability to scale their capacity up or down as needed. The annual holiday shipping crunch illustrates how easily strained these legacy providers are when parcel volume increases. This last holiday season, logistics providers’ capacity fell severely short of customer demand. ShipMatrix estimated the shortfall at approximately 7 million packages a day. Many described the 2020 peak season as “Shipageddon.”
Today, the Pandion team includes some of the country’s leading delivery and supply chain experts. The leadership consists of software development, operations and business development executives from the best in breed companies of Amazon, Walmart, FedEx, Macy’s, HP, Accenture, and Deloitte.