Supply chain firm Radar Ventures commits Rs 3 bn for R&D centre

26 Aug 2022 CW Team

Radar Ventures Pvt Ltd, which runs the full-stack digital cross-border supply chain platform Wiz Freight, will invest Rs 3 billion crore in a research and development centre in Chennai for innovations in logistics technology.

The centre is being set up with an initial capital expenditure of Rs 300 million, with the company committing to invest the remaining amount over the next three years.

Wiz Freight is backed by marquee investors such as Tiger Global, Axilor Ventures, Foundamental, Arali Ventures, Stride Ventures and Alteria Capital, among others.

The centre, which will employ a team of 300 members, 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.

In a press statement, the company claimed that the centre will be the largest R&D centre in Asia dedicated to cross-border shipping technology.

Founded in 2020 by Ramkumar Govindarajan and Ramkumar Ramachandran, Wiz Freight is a cross-border supply chain startup enabling exports and imports via its platform.

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