Chennai, Aug 24 (PTI) Wiz Freight, a digital crossborder supply chain start-up, has set up its research and development centre for logistics here with an initial outlay of Rs 30 crore, a company official said on Wednesday.
The technology and research and development centre would be the largest in Asia dedicated to crossborder shipping technology, said the official.
WIZ Freight Tech and R&D Centre, set up an initial capital expenditure of Rs 30 crore, would 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, a statement from the company said.
The company has also committed to spending over Rs 300 crore over the next 3 years on research and development, it said.
The R &D centre would employ a team of 300 in various segments, including data science, analytics, software and logistics.
“We started Wiz Freight with a vision that we will bring about a positive change in the crossborder supply chain management through pro-active use of technology. We will use Artificial Intelligence-Machine Learning-based technology applications to predict the expected time of arrival (ETA), shipment routing…” said company co-founder Ramkumar Govindarajan.
“The technology, research and development centre will go a long way in supporting our ambition to be the most innovative, technology focused crossborder supply chain management company. We have earmarked Rs 300 crore for research and development over the next 3 years and will further accelerate it depending on the pace of our global expansion,” he said.
The R & D would also create internet of things (IoT) solutions for precision tracking, cold chain management and warehousing bots.
The research in the field of web and mobile application development would ensure a seamless user interface to manage end-to-end shipping on the go, the company said. PTI VIJ NVG NVG
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.