WizFreight invests Rs 30 cr in logistics tech R&D unit in city

CHENNAI: Wiz Freight, a full-stack digital cross-border supply chain start-up, has set up a tech and R&D centre in Chennai for logistics tech.

Established at an initial capital expenditure of Rs 30 crore, it will facilitate tech-enabled innovation in the shipping industry to reduce shipping costs, offer accurate end-to-end visibility, enable better upstream and downstream supply chain planning and execution and minimise carbon footprint.

It has also committed to spending over Rs 300 cr over the next 3 years on R&D. The centre will employ a team 300 members in the field of data science, analytics, software and logistics.

The centre was inaugurated on Wednesday by Ramkumar Ramachandran, co-founder-chairman and Ramkumar Govindarajan, co-founder-CEO, Wiz Freight. This will be the largest R&D centre in Asia dedicated to cross-border shipping technology providing solutions using Artificial Intelligence, Machine Learning, blockchain, Internet of Things, web & mobile applications and big data capabilities to improve critical functions like ETA prediction and routing.

Govindarajan, said, “we are committed to disrupting the current industry norms through tech-driven innovation and bringing greater efficiency that will benefit our clients in their business operations. We have earmarked Rs 300 cr for R&D over the next 3 years and will further accelerate it depending on the pace of our global expansion.”

Ramachandran said, “Use of the latest technology to innovate and improve the efficiency in the shipping industry is the need of the hour. ”