Tech-enabled freight forwarding platform Wiz Freight has completed a Series B investment round led by SBI Investment, which has raised about Rs 125 crore, or $15 million. Tiger Global, NIPPON EXPRESS HOLDINGS, Axilor Technologies Fund, Foundamental, Arali Investments, Unikon Shipping Ventures, and a few family offices were also involved in the financing.
With the additional funding, the company intends to expand its global operations into Southeast Asia, the Middle East, and the US and improve its centered around technology logistics services even further, as reported by Entrackr.
Read also – Swiggy Appoints HUL’s Ashwath Swaminathan for Growth and Marketing
Along with this, Wiz has big business houses like Adani, ITC, and Tata Group, which help him to ship cargo across the world.
The company’s innovative supply chain technology, driven by artificial intelligence, increases visibility, reduces manual labor through automation, and saves money for its clients.
Read also – 30 Crore Mudra Yojana Loans Given To Women Entrepreneurs: Interim Budget 2024
About Wiz Freight
Serial entrepreneurs Ramkumar Govindarajan and Ramkumar Ramachandran founded Chennai-based Wiz Freight in August 2020. It offers businesses end-to-end shipment management solutions, including price discovery, booking management, shipment tracking, documentation, and shipment finance. Additionally, it offers customer support.
Read also – BharatPe Appoints Rohan Khara as Chief Product Officer
