NIPPON EXPRESS HOLDINGS, INC. (President: Satoshi Horikiri), invests for a minority stake in Wiz Freight (hereinafter, "Wiz"), a leading digital forwarding service provider in India, on January 12 as its third investment made via the NX Global Innovation Fund, a CVC fund established in January 2023.
Wiz is a company founded in India in 2020 that addresses the rapidly-growing need for digital cross-border supply chain services in emerging countries. The company has more than 900 employees working at over 25 offices in six countries/regions (India, UAE, Hong Kong, Singapore, Thailand, and USA). Using cutting-edge technology, the company provides digital forwarding services for the global supply chain sector.
The international logistics industry has been facing major challenges in recent years, among them being the increasing complexity of supply chain and the standardization/streamlining of trade operations due to the expansion of global transactions. It is thus expected that international logistics operations will become ever more digitized to create logistics platforms that optimize logistics by standardizing arrangements and visualizing information such as operational progress and transport status.
In view of these circumstances, the NX Group has been pursuing digital transformation (DX) and in July of last year it launched e-NX Quote and e-NX Visibility, digital forwarding services that enable online quotation and tracking. To further promote DX, the Group has been actively exploring the use of external resources, including collaborations with startup companies in Japan and overseas, as one solution.
By investing in Wiz, a company strong in digital forwarding services in India and other emerging markets, the NX Group will bolster its own global forwarding business and accelerate its DX initiatives.
The NX Group will continue co-creating (*) new business values with promising start-ups by leveraging its domestic and international networks.
■ Profile of investee
| Company name | Wiz Freight (Radar Ventures Private Limited) |
|---|---|
| Location | Sudha Centre, 31, Dr Radha Krishnan Salai, Dwarka Colony, Mylapore, Chennai, Tamil Nadu 600004 |
| Established | January 2020 |
| Representative | Ramkumar Govindarajan |
| Capital | Approx. 892,000 Indian rupees (paid up equity capital as of October, 2023) |
| Number of employees | Approx. 900 (as of October 31, 2023) |
| Business | Provision of international forwarding services using digital platforms |
| Website | https://wizfreight.com/ |
