Prewave secured a €63M Series B to expand its supply chain risk management platform
Prewave, an AI-powered supply chain risk management platform, has secured €63 million in Series B funding to expand globally and develop its superintelligence platform, addressing growing supply chain challenges and regulatory complexities for businesses.
Prewave has raised €63 million in Series B funding led by Hedosophia and backed by existing investors, including Creandum, Ventech, and Kompas. Prewave plans to use this investment to fuel global expansion and further develop its proprietary AI technology, aiming to create the world's first supply chain superintelligence platform.
As businesses face increasing supply chain challenges due to well-known disruptions, global uncertainties, and new regulations, Prewave's AI-driven solution offers a comprehensive approach to risk management that empowers customers to transform supply chains to make them more transparent, compliant, and resilient. The platform can identify and manage 140 risk types globally, covering issues from natural disasters to sustainability concerns and regulatory compliance, with the latter becoming an increasingly important topic, considering upcoming regulations such as the EU’s Deforestation Regulation (EUDR), or the EU’s Corporate Sustainability Due Diligence Directive (CS3D)
To do this, Prewave foregoes manual inputs and legacy technology, instead favoring automated mapping, scoring, and monitoring for millions of supply chain nodes. Prewave's AI engine processes vast amounts of data from various sources in over 400 languages to identify risk signals and generate real-time alerts and recommended actions for customers.
Prewave's success is partly demonstrated by its rapid growth, tripling its annual revenue in 2023 and counting over 200 companies, including Lufthansa, Toyota, Ferrari, and Dr Oetker, as customers. The company is confident in its mission to help businesses harness data and AI as tools to make supply chains more transparent, resilient, and sustainable, and to transform regulatory compliance into an opportunity to make businesses more resilient. Additionally, based on the success Prewave saw in the European market, the company is ready to use the recent funding to boost its growth in the US market.
