Digital Freight Management Startup Wiz Freight Raises $3.5M In Seed Round
Wiz Freight, a tech-enabled freight forwarding platform, has raised $3.5 million funding in its seed round led by Axilor.
Arali Ventures and Foundamental, along with angel investors Ramakant Sharma (Co-founder of LivSpace) and Daniel Richner (Chairman of Swiss-based logistics conglomerate M+R Spedag Group), also participated in the funding round.
Started by logistics veterans Ramkumar Govindarajan and Ramkumar Ramachandran, Wiz is a full-stack digital freight management platform that allows enterprises and SMBs to automate their cross-border logistics operations.
Ramkumar Govindarajan, Co-founder of Wiz, said,
“We are witnessing a huge need for digitisation with pandemic-led disruptions in international supply chains. Customers are flocking towards solutions that offer better visibility and control over their shipments. We are delighted by the tremendous response from customers for our tech-led solutions.”
Ramkumar added that the startup would be able to create a long-term impact in this multitrillion-dollar global trade industry by leveraging technology.
Wiz Freight | Digital Freight Forwarder For Modern-day Logistics
Started in August 2020 with a single offering of ocean import solutions from China into India, Wiz Freight currently offers export and import solutions via ocean and air connecting India with major international trade locations. The platform directly integrates with over 40 direct shipping lines, thus making global shipping efficient and hassle-free for their customers.
With its offerings, Wiz has become the only digital full-stack player in the region to offer door-to-door multimodal solutions. Wiz claims to serve over 200 enterprise and mid-market customers across India, South East Asia, and the Middle East. Its list of clients includes Tata, Mahindra, Adani, Aditya Birla, Renew, Hero, ITC, Marico, Zetwerk, and Zilingo.
As per the startup, it aims to become the largest cross-border transporter in emerging markets by 2025 by expanding into Southeast Asia, the Middle East, and Africa by early 2022. Additionally, the full-stack digital freight management platform also has plans to offer trade finance and cargo insurance solutions to its customers through strategic partnerships in the future.
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