As investor interest in supply chain tech persists, Prewave‘s dynamic platform proves essential in navigating global challenges. The future of resilient and responsive supply chains is here.
While investor caution lingers in the startup ecosystem, certain sectors, notably those addressing global supply chain challenges, remain resilient. Prewave, an Austrian startup specializing in supply chain risk management, has raised €18 million ($20 million) in what it terms a Series A+ round. This follows its €11 million ($12.3 million) Series A round just eight months ago, indicating sustained investor interest.
Prewave’s latest funding round includes European VC heavyweight Creandum, known for backing successful ventures like Spotify, Klarna, and iZettle. The startup, founded in 2017 in Vienna, offers a comprehensive supply chain risk platform, covering the entire risk lifecycle from identification and analysis to mitigation and reporting.
Major companies such as BMW, Lufthansa, and PwC use Prewave to monitor entities in their supply chain, leveraging social media, news reports, and diverse data sources. The platform goes beyond internal factors, incorporating external elements like natural disasters, political unrest, and legal issues that could impact global goods transfer.
Prewave employs its proprietary “crawler” to gather publicly available information across multiple languages, ensuring continuous expansion and improvement of coverage. The platform’s dynamic supplier risk score adapts with each new piece of data.
Increasing demand for supply chain insights is driven by various factors, including legal obligations. Recently, Germany enacted a supply chain due diligence law, making large companies responsible for tracking human rights and environmental risks in their supply chain. Similar directives are under consideration in the broader European Union (EU). Consumer expectations also contribute to the rising demand, as businesses are now expected to align with moral and ethical principles.
Harald Nitschinger, Co-founder of Prewave, highlighted the enduring importance of supply chain technology. He noted that the pandemic exposed vulnerabilities in global supply chains, emphasizing the need for technologies that enhance visibility, sustainability, and predictive capabilities.
With the additional $20 million funding, Prewave plans to amplify recent growth, doubling its workforce from 20 to over 100 employees. The investment, featuring Creandum, Ventech, Kompas, Seed+Speed, Segnalita, Speedinvest, Working Capital Fund, and Xista Science Ventures, reflects Prewave’s commitment to advancing supply chain risk management technology.
Source – TechCrunch
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