Wiz Freight, a full-stack digital freight forwarder startup, has raised Rs 275 Cr ($36 million) in a Series A funding round.

The round, which is a mix of equity and debt, was led by Tiger Global Management with participation from Axilor Ventures, Foundamental, Arali Ventures, Stride Ventures, and Alteria Capital.

The startup plans to use the freshly raised capital to accelerate its technology R&D and global expansion into Southeast Asia, the Middle East, and Africa.

Wiz Freight | Making Global Supply Chains Smarter And Sustainable

Founded by logistics veterans Ramkumar Govindarajan and Ramkumar Ramachandran in August 2020, Wiz Freight is a tech-enabled full-stack freight forwarding platform that allows enterprises and SMBs to automate their cross-border logistics operations. 

This freight forwarder startup claims to be the only digital player in the emerging markets to work directly between carriers and shippers by adopting a full-stack execution model offering significant cost savings and operational reliability to enterprise customers.

Speaking about the development, Ramkumar Govindarajan, Co-founder and CEO of Wiz Freight, said,

“We plan to open two new tech R&D centres in Bengaluru and Singapore to carry out further development of our AI/ML (artificial intelligence/machine learning), blockchain, and IoT (Internet of Things) capabilities to offer intelligent and connected cross-border shipping to its customers.”

Ramkumar added that the global trade is witnessing all-time high volatility in capacity with rates led by the pandemic and the recent geopolitical events. And this is causing massive disruptions in supply chain planning and execution for shippers.

Its AI-powered disruptive supply chain technology helps reduce manual work through automation, improve visibility and generate savings for its customers.

The digital freight forwarder is working with a team of over 350 people across more than 15 locations and a network of over 200 carriers and vendors. Wiz Freight claims to be catering to 1,500-plus enterprises, including the likes of Tata, Aditya Birla, Adani, Mahindra, and ITC. 

In August 2021, Wiz Freight raised $3.5 million in a seed funding round led by Axilor. 

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