Wiz Freight Secures INR 125 Crore in Series B Funding

WIZ Freight, a full-stack digital cross-border supply chain start-up, has raised Series B funding of INR 125 Crore in equity led by Japan-based SBI Investment at a post-money valuation of INR 1400 Crore registering a 50% jump in the valuation from its last round. The round also saw participation from Tiger Global, NIPPON EXPRESS HOLDINGS, Axilor Technologies Fund, Arali Investments, Unikon Shipping Ventures and a few Family offices.

The company plans to grow its global operations in Southeast Asia, the Middle East, and the US with the new investment and further enhance its technology-driven logistics solutions. Ambit was the financial advisor to Wiz Freight on the Series B funding.

“By investing in WIZ, a company strong in digital forwarding services in India and other emerging markets, the NX Group will bolster its own global forwarding business and accelerate its DX initiatives,” said a spokesperson from Nippon Express.

With the funding at this juncture, WIZ is well positioned for expansion of its overseas operations, continued development of the Indian operations, and establishing its place as a prominent leader in the logistics sector.

WIZ Freight raised in March 2022 a Series A funding of INR 275 Crores (USD 36 million) in a mix of equity and debt led by Tiger Global with participation from Axilor Ventures, Foundamental, Arali Ventures, Alteria Capital, and Stride Ventures. WIZ had closed a USD 3.5 million seed round led by Axilor Ventures in August 2021. Arali Ventures and Foundamental had also participated in the round along with angel investors Ramakant Sharma, Co-founder of LivSpace, and Daniel Richner, Chairman of M+R Spedag Group, a Swiss-based logistics conglomerate.

Founded in January 2020, Wiz helps exporters and importers in emerging markets book and manage their cross-border shipments on its tech platform with e-commerce-like convenience. WIZ’s AI-powered platform offers instant capacity discovery, dynamic pricing, optimized routing, door-to-door tracking, and automated customizable document workflows, saving countless hours for shippers.

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