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HomeBusinessWiz Freight Gets $3.5 Mn In Seed Funding From Axilor, Others

Wiz Freight Gets $3.5 Mn In Seed Funding From Axilor, Others

The seed round also saw participation from Arali Ventures and Foundamental, along with angel investors Ramakant Sharma, co-founder of Livspace and Daniel Richner, chairman of the M+R Spedag Group, a Swiss-based logistics firm, the startup and Axilor said in a joint statement.

Digital freight management platform Wiz Freight has raised USD 3.5 million (about Rs 26 crore) in seed funding led by Axilor.

The company offers door-to-door multimodal logistics solutions to its customers.

The seed round also saw participation from Arali Ventures and Foundamental, along with angel investors Ramakant Sharma, co-founder of Livspace and Daniel Richner, chairman of the M+R Spedag Group, a Swiss-based logistics firm, the startup and Axilor said in a joint statement.

Founded by logistics veterans Ramkumar Govindarajan and Ramkumar Ramachandran exactly a year ago in Chennai, Wiz’s full-stack platform allows enterprises and small businesses to automate their cross-border logistics operations.

Wiz began with a single offering of ocean import solutions from China, but today, it offers export and import solutions via ocean and to and from on all major international trade locations, offering door-to-door multimodal solutions and serve over 200 customers across India, Southeast Asia and the Middle East.

Its customer roster includes the likes of the Tatas, Adani group, Mahindra, Aditya Birla, Renew Power, Hero Motors, ITC, and Marico, among others.

Axilor seed funds startups — which are into small business digitisation, commerce and logistics, consumer segment and health tech — and has so far seed-funded 42 startups. With over 350 founders, Axilor probably has the largest community of founders. 

(PTI)

Source: Business World

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