Wiz Freight, a full digital freight forwarder offering door to door international freight solutions to importers and exporters, has today received funding of INR 20 Cr. With that, Stride Ventures has added another new-age startup to its already stellar portfolio and is Wiz Freight’s first venture debt lender.
Wiz Freight uses its proprietary technology platform to offer end-to-end shipping management solutions, including price discovery, reservation management, shipment tracking, documentation, shipment financing, and customer support. The company offers solutions for sea, air and road freight. In addition to traditional freight forwarding services, Wiz also provides value-added services such as door-to-door pickup and delivery, customs clearance, road logistics, warehousing, and more. The company caters to medium and large businesses with a focus on the energy, manufacturing, and consumer sectors.
Digital supply chain solutions are becoming increasingly important in the modern shipping industry. Commenting on the funding, Mr. Ishpreet Singh Gandhi, Founder of Stride Ventures, said, “Wiz Freight has managed to grow steadily and integrate key businesses while maintaining margins in a highly volatile freight market. Despite the pandemic affecting the entire freight and logistics industry, large-scale digitization has led to new solutions. Together with Wiz, we are very keen and excited to be part of their journey to expanding global reach and creating disruption in the international supply chain.
Sharing his thoughts on this development, Mr. Ramkumar Govindarajan, Co-Founder of Wiz Freight, said, “Cross-border shipping has been the backbone of global trade and the last 2 years have seen unprecedented disruptions in the supply chain. international supply chain, driving prices and stocks. shortages. We have been able to help our customers minimize disruption with better visibility, planning and real-time shipment control through our technology platform. We have grown 25x in the past 12 months and established a presence in 10 Indian cities. We plan to invest in hiring, technology development and global expansion in 2022. We are pleased to partner with Stride Ventures on this journey.
Since its inception, Stride Ventures has focused on investing in market leaders across all industries. Through its myriad of financial products, Stride Ventures provides comprehensive, tailored credit solutions to new-era startups and is quickly becoming a one-stop-shop for all financial needs. Having been one of the most active venture debt companies this year, total commitments exceeded INR 1,000 crore in the portfolio companies of its two debt funds.