GURUGRAM — Fleetx.ai, an AI-native fleet and logistics technology company based in Gurugram, has announced the acquisition of Chennai-based Transportation Management System (TMS) provider Pando.ai. The financial terms of the transaction were not disclosed.
According to the company release, the acquisition allows customers to access a unified platform covering operations from fleet visibility to freight execution. The integration aims to use AI agents across the stack to replace fragmented systems in physical operations.
Pando.ai has established a presence in the Indian TMS market, working with several major enterprises across various sectors. Its existing clientele includes Sun Pharma, Honda, Castrol, Godrej, Pernod Ricard, Berger Paints, Perfetti Van Melle, and Orient Electric.
Following the acquisition, Pando.ai will continue to operate as a distinct brand retaining its own product and company identity. Fleetx.ai plans to integrate its proprietary AI capabilities into the Pando.ai platform to take a combined offering to the market.
Additionally, the entire leadership team of Pando.ai has joined Fleetx.ai and will continue to lead the Pando.ai business unit. Fleetx.ai has stated that it will make further investments in Pando.ai's products and AI capabilities to strengthen the overall platform.
Looking ahead, the combined entity is preparing for a public listing over the next 18 to 24 months, with a potential Initial Public Offering (IPO) in the near future. The company is targeting a combined revenue of ₹300 crore to ₹400 crore on a profitable basis by the time of its planned market debut.
"This acquisition marks a strategic consolidation within the Indian logistics technology sector. By combining Fleetx.ai's AI capabilities with Pando.ai's established enterprise footprint, the merged entity is positioning itself strongly in the supply chain market. Setting a clear timeline of 18 to 24 months for an IPO with a focus on profitability demonstrates financial discipline and a clear growth trajectory that will be closely watched by the market." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
