Wiz Freight, a cross-border supply chain start-up, has raised Rs 275 crore in a mix of equity and debt led by Tiger Global and participation by Axilor Ventures, Fundamental, Arali Ventures, Stride Ventures and Alteria Capital.
This marks the most extensive Series A funding in Indian logistics. The company plans to accelerate its technology R&D and global expansion into Southeast Asia, the Middle East and Africa with the new investment.
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Founded in August 2020 by Ramkumar Govindarajan and Ramkumar Ramachandran, Wiz aids exporters and importers in emerging markets to book and manage cross-border shipments on its tech platform with e-commerce-like convenience.
“The $2 trillion global shipping is highly fragmented with several intermediaries leading to cost inefficiencies, lack of transparency and suboptimal customer experience,” the company said.
