Wiz Freight, a full-stack digital supply chain start-up, has raised a Series A funding of Rs 275 crore ($36 million) 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. The company plans to accelerate its technology R&D and global expansion into Southeast Asia, Middle East and Africa with the new investment, an official statement said.
Founded in August 2020 in Chennai by Ramkumar Govindarajan and Ramkumar Ramachandran, Wiz helps exporters and importers in emerging markets book and manage cross-border shipments Wiz's AI-powered platform offers instant capacity discovery, dynamic pricing, optimised routing, door-to-door tracking and automated document workflows.
"We're excited about partnering with the team at Wiz as they build a leading digital cross-border transporter in emerging markets," says Griffin Schroeder, Partner, Tiger Global.
Wiz plans to open two tech R&D centres in Bengaluru and Singapore for development of its AI/ML, blockchain & IoT capabilities.