Siemens’ investment arm Next47 has made its first direct investment in India, in a $9 million round in supply chain management software provider Pando.
The round is lead by Next47 (the investment arm of the European mega company Siemens), along with Building Ventures and previous investors Founders Fund, Presidio Ventures, Lemnos and NEA. As part of the deal, Next47’s T.J. Rylander will be joining Built’s board of directors.
The funding — led by Lakestar with participation from Accel, Next47, H14, HV Holtzbrinck Ventures, Project A and Scania Growth Capital — is notable in that it’s the second round that Sennder has raised this year alone.
This Series B is being led by Next47, the strategic investment arm of manufacturing giant Siemens. Others in the round included Matrix Partners, PointNine Capital, Jason Calacanis’s LAUNCH Fund, Newground Ventures, Bling Capital, Chaifetz Group, and Origin Ventures (which had led 15Five’s Series A).
Lak Ananth, the chief executive of Next47, global venture firm backed by Siemens, gives three tips for fostering entrepreneurship in big companies and working with startups.