Wiz Freight, a full-stack digital freight forwarding startup, has raised Rs 125 crore (approximately $15 million) in Series B funding. The investment was led by Japan-based SBI Investment, with participation from Nippon Express Holdings, Tiger Global, Axilor Technologies Fund, Foundamental, Arali Investments, and Unikon Shipping Ventures, including some family offices.
The company plans to raise the Series B round in two tranches, and this current funding is part of the larger round that the company intends to close this year.
Started in 2020, Wiz Freight provides a digital cross-border supply chain. With the help of an AI-powered platform, it provides cost savings, speed, and efficiency through instant capacity discovery, dynamic pricing, optimized routing, door-to-door visibility, and automated document workflows.
With this new funding, the startup plans to invest in technology and grow its global operations in Saudi Arabia, Vietnam, China, Malaysia, and parts of Europe.
The company’s co-founders are Ramkumar Govindarajan (CEO) and Ramkumar Ramachandran (Chairman), and it is headquartered in Chennai, Tamil Nadu, India, along with its various other branches present in India, the United States, UAE, Thailand, Singapore, and Hong Kong.