New Delhi, Mar 31 (PTI) Logistics startup Wiz Freight has raised Rs 275 crore through a mix of equity and debt led by Tiger Global.
The series A funding round also saw participation from Axilor Ventures, Foundamental, Arali Ventures, Stride Ventures, and Alteria Capital.
The investment marks the largest series A funding in the Indian logistics segment, the company said in a statement.
The cross-border supply chain company plans to use the funds to accelerate its technology, R&D, and global expansion into Southeast Asia, Middle East and Africa.
“A chunk of this investment will be used for global expansion, especially in emerging markets. We are looking to expand in 15 countries in the next 18-24 months,” Wiz Freight CEO Ramkumar Govindarajan said. The company is also setting up a global command centre in Chennai. It will be expanding its business in India as well, he added.
The company aims to reach a headcount of 1,000 in the next 12 months, he said.
Founded in 2020, Wiz helps exporters and importers in emerging markets book and manage their cross-border shipments.
Currently, the startup caters to over 1,500 enterprises including the likes of Adani, Mahindra, Tata, Aditya Birla, ITC among others.
The company had raised about Rs 265 crore in seed funding round. PTI PRS RUJ RUJ
