Amazon Air founder has a new start-up that aims to take on FedEx and UPS by speeding up shipping
Summary
Pandion said Tuesday it raised another $30 million from investors, including AME Cloud Ventures, a firm led by Yahoo co-founder Jerry Yang, and Innovation Endeavors, co-founded by former Google CEO Eric Schmidt. Rafi Syed, the firms general partner, said Pandion is designed for the modern challenges of online retail and to meet surging demand, which is overloading the existing shipping system. "The incumbent shippers werent built for e-commerce, and shoppers often feel the strain through delayed deliveries, missing packages, and poor customer experience," Syed said in a statement. The new 150,000-square-foot site in Quakertown, Pennsylvania, will help major retailers offer low-cost, reliable two-day deliveries in the U.S. Northeast and mid-Atlantic regions, an area Ruffin said covers up to 45 million people. Sortation centers are designed to cut down on shipping times by organizing packages and bundling them by ZIP code, before loading them onto trucks for transport to a last-mile delivery station, like a U.S.