Fleetxai’s acquisition of Pando.ai creates a unified fleet-to-freight platform ahead of a planned IPO.
New Delhi [India], August 20: Fleetx.ai, leading AI-native fleet and logistics technology company, today announced the acquisition of Pando.ai, a leading Transportation Management System (TMS) provider, for an undisclosed amount. Through this acquisition, customers gain access to a unified, AI-native platform spanning the entire journey from fleet visibility to freight execution, with AI agents working across the stack to replace the disconnected systems that have long defined physical operations.
Over the years, Pando.ai has been trusted by many of India’s largest enterprises and has built a strong reputation as a best-in-class player in the Indian TMS market, working with several industry-leading enterprises across sectors, including Sun Pharma, Honda, Castrol, Godrej, Pernod Ricard, Berger Paints, Perfetti Van Melle, Orient Electric etc. Following the acquisition, Pando.ai will continue to operate as a distinct brand with its own product and company identity. Fleetx.ai intends to build on this legacy by layering its AI capabilities on top of Pando.ai’s platform and taking the combined offering to market.
Over the last nine years, Fleetx.ai has evolved from a fleet visibility platform into the AI intelligence layer for the industries that keep India’s economy running, including logistics, construction, energy, retail, and manufacturing. The company is trusted by some of the country’s largest enterprises, including UltraTech, Adani, AM/NS India, MP Birla Group, Maersk, Unilever, Mondelez, etc., to automate physical operations that were once managed manually, through spreadsheets, or across disconnected systems. With the acquisition of Pando.ai, Fleetx.ai takes its clearest step yet toward building a unified AI intelligence layer for physical operations – one where the platform doesn’t just surface insights, but reasons, plans, and acts on them. Fleetx.ai believes this shift, from monitoring operations to autonomously executing them, will define the next decade of enterprise logistics in India.
Commenting on the acquisition,Vineet Sharma, Co-Founder & CEO, Fleetx.ai, said, “Bringing Pando.ai into the Fleetx.ai fold creates a unified, end-to-end stack for fleet and logistics, 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. We’re equally excited to work closely with Pando.ai’s leadership team and build on the deep expertise they bring.”
The whole of Pando.ai’s leadership team has joined Fleetx.ai and will continue to fully lead the Pando.ai business. Fleetx.ai will invest further in Pando.ai’s products and AI capabilities, strengthening the platform for customers going forward.
Badrinath Setlur, Chief Executive Officer, Pando.ai, said, “Our customers have always trusted us to keep their supply chains moving. That trust doesn’t change with this acquisition – it only gets stronger. Joining forces with Fleetx.ai means we can invest even faster in the AI capabilities our customers are asking for, while our team and our product continue to operate exactly as they have. This is a natural next step for Pando.ai, and I’m excited about what we can build together.”
With the acquisition, the combined entity will begin preparing for a public listing over the next 18-24 months, potentially targeting an IPO in the near future. The company is aiming for combined revenue of ₹300-400 crore on a profitable basis by the time of listing.
India’s fleet and logistics sector is entering a new phase of technology adoption, as trucking volumes rise alongside e-commerce and industrial growth, and government mandates on GPS-based tracking and safety compliance become the norm. In this environment, AI agents can flag a delayed shipment, re-route a driver, or renegotiate a freight allocation without waiting for a human to act on each step. Fleetx.ai is building toward this future by embedding AI agents across its entire product suite.
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