Chennai-based supply chain startup Wiz Freight raises Rs 125 crore, valued at Rs 1400 crore

The company is valued at Rs 1400 crore, a 50 per cent jump in the valuation from its last round, it said in a release. In March 2022, it raised Series A funding of Rs INR 275 crores in a mix of equity and debt led by Tiger Global with participation from Axilor Ventures, Foundamental, Arali Ventures, Alteria Capital and Stride Ventures. It has also closed a USD 3.5 million seed in 2021. 

Ramkumar Ramachandran, Co-founder of the startup said, WIZ is set to double its workforce at the Tech and R&D Center in Chennai, which has 200 employees at present. It acts as a central control centre for tracking shipments. The company said it has an artificial intelligence-based platform for capacity discovery, dynamic pricing, optimizing routing and tracking etc.

It has signed a memorandum of understanding (MoU) with the Tamil Nadu government for an investment of Rs 300 crores over the next five years.