Prewave: Revolutionizing Supply Chain Intelligence
June 26, 2024, 3:45 am
Prewave, a Vienna-based AI-enabled sustainability, risk, and compliance platform, has secured a whopping €63 million in its Series B funding round. Led by global investment firm Hedosophia, with backing from existing investors Creandum, Ventech, Kompas, Speedinvest, and Working Capital Fund, this funding injection will propel Prewave into its next phase of global expansion and product innovation.
Supply chain disruptions have long plagued businesses, from natural disasters to labor issues. The current landscape of geopolitical instability, workforce shortages, and inflationary pressures has only exacerbated these challenges, with disruptions costing companies a significant chunk of their annual revenue. To add fuel to the fire, businesses are now facing a barrage of new sustainability and supply chain regulations, each imposing complex reporting requirements and hefty penalties for non-compliance.
Enter Prewave, the beacon of hope in this sea of uncertainty. Harnessing the power of AI, Prewave offers a supply chain superintelligence platform that promises to transform businesses' supply chains into transparent, compliant, and resilient powerhouses. With the ability to identify and manage 140 risk types on a global scale, Prewave covers everything from natural disasters and financial stress to sustainability issues and regulatory compliance.
Harald Nitschinger, Co-founder and Managing Director at Prewave, emphasizes the pivotal role of data and AI in revolutionizing supply chains. He believes that businesses should view regulatory compliance not as a mere checkbox exercise but as a catalyst for building resilience and sustainability. Prewave's rapid expansion in Europe, with a 3x annual revenue growth in 2023, speaks volumes about the platform's efficacy.
Major players like Lufthansa, Toyota, Ferrari, and Dr. Oetker have already jumped on the Prewave bandwagon, relying on its capabilities to stay compliant and fortify the sustainability of their supply chains. Sabina Wizander, Partner at Creandum, underscores the critical need for full supply chain visibility in today's volatile landscape, praising Prewave for its customer traction and strong momentum.
In a world where global supply chains are increasingly vulnerable, Prewave stands out as a beacon of resilience and innovation. With this latest funding boost, Prewave is poised to turbocharge its growth and solidify its position as a game-changer in the realm of supply chain intelligence.
Supply chain disruptions have long plagued businesses, from natural disasters to labor issues. The current landscape of geopolitical instability, workforce shortages, and inflationary pressures has only exacerbated these challenges, with disruptions costing companies a significant chunk of their annual revenue. To add fuel to the fire, businesses are now facing a barrage of new sustainability and supply chain regulations, each imposing complex reporting requirements and hefty penalties for non-compliance.
Enter Prewave, the beacon of hope in this sea of uncertainty. Harnessing the power of AI, Prewave offers a supply chain superintelligence platform that promises to transform businesses' supply chains into transparent, compliant, and resilient powerhouses. With the ability to identify and manage 140 risk types on a global scale, Prewave covers everything from natural disasters and financial stress to sustainability issues and regulatory compliance.
Harald Nitschinger, Co-founder and Managing Director at Prewave, emphasizes the pivotal role of data and AI in revolutionizing supply chains. He believes that businesses should view regulatory compliance not as a mere checkbox exercise but as a catalyst for building resilience and sustainability. Prewave's rapid expansion in Europe, with a 3x annual revenue growth in 2023, speaks volumes about the platform's efficacy.
Major players like Lufthansa, Toyota, Ferrari, and Dr. Oetker have already jumped on the Prewave bandwagon, relying on its capabilities to stay compliant and fortify the sustainability of their supply chains. Sabina Wizander, Partner at Creandum, underscores the critical need for full supply chain visibility in today's volatile landscape, praising Prewave for its customer traction and strong momentum.
In a world where global supply chains are increasingly vulnerable, Prewave stands out as a beacon of resilience and innovation. With this latest funding boost, Prewave is poised to turbocharge its growth and solidify its position as a game-changer in the realm of supply chain intelligence.