A tech-enabled freight forwarding platform for the modern day logistics and a full-stack digital cross-border supply chain start-up, WIZ Freight has raised Rs. 125 crore in Series B funding equity led by Japan-based SBI Investment at a post-money valuation of Rs. 1,400 Crore schedule a 50% hike in the valuation from its last round.

The Chennai-based startup plans to raise its global operations in Southeast Asia, the Middle East, & the US with the new investment & further to boost its solutions for technology-driven logistics. On this Series B fundraise of Wiz Freight, Ambit was the financial advisor.

The company forecasts to lift up the Series B round in two tranches. The current fund raising is a branch of the larger round which the company proposes to close this year. Also the round registers contribution from Tiger Global, NIPPON EXPRESS HOLDINGS, Axilor Technologies Fund, Foundamental, Arali Investments, Unikon Shipping Ventures, and from a small number of family offices.

Speaking on to this Fund round, Ramkumar Ramachandran, Co-founder, Chairman, WIZ, says, “WIZ is set to double its workforce at the Tech and R&D Center in Chennai, currently home to 200 employees. The primary focus is on scaling up the tech platform for enhanced efficiency.”

At the same time, Ramkumar Govindarajan, Co-founder and CEO, WIZ says, “WIZ has recently signed a MoU with the Tamil Nadu government for a proposed investment of Rs.300 crore over the next five years and is expected to create 2000 more jobs”.