Supply chain startup Wisor AI has raised an $8 million seed round led by Team8.
The funding round also included participation from Ocean Azul and Hico Investment Group, as well as pre-seed investors fresh.fund, Atooro Fund, The Dock, Seed IL Ventures, and Izaki Ventures.
Founded in 2021 and headquartered in Tel Aviv, Wisor AI is a freight booking software solution geared towards modernizing the global freight forwarding industry which manages the delivery of everything. Wisor has developed a software solution specifically for the needs of freight forwarders. The application is a “plug and play” solution that automates the current manual process of pricing data and optimization. The service is designed to allow freight forwarders to improve response rates while freeing capacity.
The platform would also be able to extend to additional value added services such as payments, financing and insurance.
Calling the market “ripe for disruption,” the company states that today there are roughly 300,000 freight forwarders globally, including 100,000 in the US, handling $23.3 trillion in goods delivered to consumers.
Raz Ronen, CEO and co-founder of Wisor AI, said the complexity of supply-side management has become pronounced in recent years, and his company has found a way to “digitize this industry without requiring freight forwarders to fundamentally change the way they operate today, making the adoption seamless while enjoying the benefits of digitization.”
