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Wiz Freight adds Rs 51 Cr worth options to ESOPs pool

Joining the ranks of many growth stage startups, digital supply chain startup Wiz freight has expanded its employee stock options (ESOPs) pool. The expansion came soon after completion of its Series A round.

The Chennai-based firm has passed a resolution to issue 1,181 esop options to its work force, regulatory filing shows. As per Fintrackr’s estimates, the issuance of ESOP is worth Rs 51 crore.

A container vessel out in the sea, powered by Wiz

Last month, the company had raked in Rs 275 crore or $36 million in a Series A round led by Tiger Global. At the time of announcing the fundraise, the company said that it has a team of over 350 people.

Founded in 2020 by Ramkumar Govindarajan and Ramkumar Ramachandran, Wiz Freight provides end-to-end warehousing and shipment management across ocean, air and road freight.

Wiz seems to be a fascinating startup with a motivating turn of events on transportation, logistics and storage platform. I’m sure this startup would continue to prosper in its journey ahead. My best wishes to the entire team of Wiz. This will give them a huge accomplishment in the future.

Shishir Gupta, Founder and CEO, StartupLanes

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