Wiz Freight raises $36 million funding led by Tiger Global

Founded by Ramkumar Govindarajan and Ramkumar Ramachandran in 2020, Wiz helps exporters and importers in emerging markets book and manage cross-border shipments on its tech platform with e-commerce-like convenience. Essentially, it enables enterprises to ship cargo by air or sea every month on the Wiz platform.

The Artificial intelligence-powered platform helps shippers save time by offering instant capacity discovery, dynamic pricing, optimised routing, door-to-door tracking and automated document workflows.

“Global trade is witnessing all-time high volatility in capacity and rates led by pandemic and the recent geopolitical events causing massive disruptions in supply chain planning & execution for shippers," said Ramkumar Govindarajan, CEO, Wiz Freight.

In India, with a presence across more than 15 locations and a network of over 200 carriers and vendors, Wiz Freight is catering to the cross-border shipping needs of 1,500 enterprises including Adani, Mahindra, Tata, Aditya Birla and ITC. The company’s tech-enabled command centre in Chennai monitors the live execution of shipments ensuring on-time delivery and round-the-clock customer service.

Besides carrying out global expansion, Wiz Freight is also planning to open two new tech research and development centres in Bengaluru and Singapore, where it will carry out further development of AI/ML, blockchain and IoT capabilities to offer intelligent and connected cross-border shipping to its customers.

The company claims to be profitable with its revenue doubling on a quarterly basis. It expects revenue to grow 4x in the coming year. Team size could double from the current headcount of more than 350 employees.

"We’re excited about partnering with the team at Wiz as they build a leading digital cross-border transporter in emerging markets” said Griffin Schroeder, Partner, Tiger Global.