Prewave, a Vienna, Austria-based AI-powered supply chain risk platform, raised €18 million in a Series A+ funding round to help clients including BMW, PwC, and Lufthansa predict, find, understand, and categorize risks within supply chains.
The round was led by Creandum, with participation from existing investors Ventech, KOMPAS, seed+speed, Segnalita, Speedinvest, Working Capital Fund, and xista science ventures expressing their faith in the company's future and direction.
As for putting that €18 million to use, Prewave co-founder Harald Nitschinger explained, “Prewave has pioneered a comprehensive solution for supply chain risk monitoring and compliance, that establishes Prewave as first mover and a key player in the supply chain risk discipline. Now the time has come to become the first true, end-to-end operating system for supply chain risk.”
The company’s AI-powered platform analyzes millions of online sources in more than fifty languages to find, categorize, and directly address the risks that might impact supply chains and incorporates several factors, including human rights issues, sustainability risks, and legislation compliance, ultimately outputting a dynamic supplier risk score.
Company: Prewave GmbH
Raised: €18.0M
Round: Series A+
Funding Month: May 2023
Lead Investors: Creandum
Additional Investors: Ventech, KOMPAS, seed+speed, Segnalita, Speedinvest, Working Capital Fund, and xista science ventures
Company Website: https://www.prewave.com/
Software Category: AI-powered Supply Chain Risk Platform
About the Company: Founded by Harald Nitschinger and Lisa Smith, Prewave is a data analytics startup specializing in the prediction of supply chain risks from social media data. The company offers a supply chain risk intelligence platform that helps businesses predict, find, understand, and categorize the risks affecting their suppliers and focuses on making supply chains more resilient by monitoring and predicting supply chain risks. It provides risk analysis and intelligence on suppliers, transport hubs, and raw materials to enable supply chain visibility. The company was founded in 2017 and is based in Vienna, Austria.
Source: https://tech.eu/2023/05/09/supply-chain-risk-platform-prewave-continues-to-makes-waves-with-a-fresh-eur18-million/