Chennai-based Wiz Freight, a full-stack digital cross-border supply chain start-up, has raised a Series A funding of ₹275 crore in a mix of equity and debt led by Tiger Global, with participation from Axilor Ventures, Foundamental, Arali Ventures, Stride Ventures and Alteria Capital. The investment marks the largest Series A funding in Indian logistics, says a company press release.

The company plans to accelerate its technology R&D and expansion into Southeast Asia, West Asia and Africa. It is looking to double its headcount and open two new tech R&D centres in Bengaluru and Singapore by the end of 2022.

Founded in August 2020 in Chennai by serial entrepreneurs Ramkumar Govindarajan and Ramkumar Ramachandran, Wiz helps exporters and importers in emerging markets book and manage their cross-border shipments on its tech platform with e-commerce-like convenience. Wiz’s AI-powered platform offers instant capacity discovery, dynamic pricing, optimised routing, door-to-door tracking and automated document workflows, saving countless hours for shippers, the release said.

The $2-trillion global shipping sector is fragmented with several intermediaries, leading to cost inefficiencies, lack of transparency and suboptimal customer experience. Wiz works directly between carriers and shippers through a full-stack execution model.

With a team of 350 across 15-plus locations and a network of 200-plus carriers and vendors, the startup caters to over 1,500 clients including Adani, Mahindra, Tata, Aditya Birla and ITC, who ship thousands of tonnes of cargo over air and sea every month using the Wiz platform.

Govindarajan, CEO, Wiz Freight, said, “Global trade is witnessing all-time high volatility in capacity and rates led by the pandemic and the recent geopolitical events causing massive disruptions in supply chain planning and execution for shippers. We’re helping customers take control of their supply chains by offering 10x shipment visibility, intelligent risk-optimised routing solutions and multi-carrier capacity offerings through our tech platform and build maximum resilience to avoid business disruptions."

"We’re excited about partnering with the team at Wiz as they build a leading digital cross-border transporter in emerging markets,” said Griffin Schroeder, Partner, Tiger Global

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Published on March 31, 2022