AI-powered supply chain intelligence startup Prewave raises €63M from Hedosophia, Creandum, others 

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Vienna-based Prewave, an AI-powered supply chain intelligence startup, announced on Tuesday that it has secured $67M (approximately €63M) in a Series B funding round, led by the global investment firm Hedosophia.

Existing investors, including Creandum, Ventech, Kompas, Speedinvest, and Working Capital Fund, participated.

The Austrian company will use the new funds to fuel global expansion and support further product R&D amidst a threefold increase in revenue in 2023.

What does Prewave solve?

Supply chain disruptions, including natural disasters and labor issues, have long been a challenge for businesses.

Recent geopolitical instability, workforce shortages, and inflation have amplified supply chain risk, costing businesses 6-10 per cent of their annual revenue.

Additionally, new sustainability and supply chain regulations in Europe and globally impose complex reporting and compliance requirements, along with potentially severe penalties for breaches.

These regulations include the EU’s Deforestation Regulation (EUDR) and Corporate Sustainability Due Diligence Directive (CS3D), as well as national-level provisions like the Conflict Minerals Provision Dodd Frank (US), Loi de Vigilance (France), Lieferkettengesetz (Germany), and VSoTr (Switzerland).

Here’s where Prewave solves this problem by harnessing the power of AI to deliver supply chain superintelligence that can transform businesses’ supply chains to become more transparent, compliant, and resilient.

Harald Nitschinger, Co-founder and Managing Director at Prewave, says, “We founded Prewave because we are convinced that data and AI can play a major role in making supply chains more transparent, resilient, and sustainable – and help to power the vital currents of global economic progress. We believe that in the face of rapidly accelerating regulatory complexity, businesses shouldn’t be aiming to take a tick-box approach, but to use regulatory compliance as a vehicle to become more resilient.”

Prewave: AI-driven supply chain risk intelligence platform

Founded in 2017, Prewave‘s AI-powered end-to-end solution automatically identifies and manages 140 risk types globally.

This enables businesses to create more transparent, compliant, and resilient supply chains.

It includes issues affecting resilience and causing disruption (natural disasters, financial stress, cyber risks, accidents, and legal issues), risks around sustainability and ESG, and compliance with a growing number of national and international regulations.

Prewave’s platform automatically maps, scores, and monitors millions of nodes in the supply chain.

The AI engine identifies risk signals from diverse data sources, including news and social media content in over 400 languages, company certifications, annual reports, and government data feeds.

Prewave delivers real-time predictive and reactive alerts, accompanied by recommended actions for customers’ supply chains, risky suppliers, and sub-tier networks.

By integrating all supply chain risk scenarios and enabling effective end-to-end risk management throughout the lifecycle, including identification, mapping, prioritisation, mitigation, and reporting and control, the company significantly reduces businesses’ workload compared to manual, questionnaire-based compliance approaches.

Commenting, Sabina Wizander, Partner at Creandum, says,” We saw during the pandemic how vulnerable global supply chains can be. Full supply chain visibility is a top C-suite priority especially given expanding regulations, geopolitical instability, and climate change. Prewave has the best product to meet this business need, as shown by the traction it is getting with customers. They have strong momentum and this new investment is going to help turbocharge their growth.”

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Vigneshwar Ravichandran

Vigneshwar has been a News Reporter at Silicon Canals since 2018. A seasoned technology journalist with almost a decade of experience, he covers the European startup ecosystem, from AI and Web3 to clean energy and health tech. Previously, he was a content producer and consumer product reviewer for leading Indian digital media, including NDTV, GizBot, and FoneArena. He graduated with a Bachelor's degree in Electronics and Instrumentation in Chennai and a Diploma in Broadcasting Journalism in New Delhi.

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