Prewave, an Austrian startup that uses AI to help companies with supply chain risks, just raised $67 million using this 10-slide pitch deck
- Prewave, an Austrian AI startup, raised $67 million in Series B funding to enhance supply chain monitoring.
- Founded in 2017, Prewave addresses supply chain risks, ESG compliance, and logistics for enterprises.
- The funding, led by Hedosophia, supports Prewave's expansion in Europe and the US, and AI R&D investment.
Prewave, an Austrian startup that uses AI to help companies monitor supply chain risks, has raised $67 million in Series B funding.
Founded in 2017, Prewave helps enterprise customers identify, monitor, and take action on a wide range of supply chain risks. The startup works on ESG and compliance, as well as resilience and logistics, to give businesses a better view of the regulations for their supply chains.
Supply chain transparency has become increasingly important in the wake of regulations in Europe about human rights, environmental protections, and labor issues, Harald Nitschinger, Prewave cofounder, told Business Insider. Growing geopolitical instability, workforce shortages, and inflationary pressures have heightened supply chain risk in recent years. Prewave estimates supply chain disruptions cost businesses 6-10% of their annual revenue, according to Prewave.
"Our work is extremely data and AI-driven," Lisa Smith, Prewave's cofounder, told BI. "Modern supply chains are so complex so companies can use our platform to monitor local news sources, government data, plus corruption and sanctions indexes to find the needle in the haystack across 140 risk event types."
Prewave previously raised a Series A+ round in May 2023 and opened up the process with investors at the start of 2024.
"The time for this is right now, and it made sense for us to invest in growth after we grew 3x last year," Smith added. "We decided to go out again after seeing there was demand on the investment side and it was a very competitive round."
The Series B funding round was led by Hedosophia, with participation from existing investors including Creandum, Ventech, Kompas, Speedinvest, and Working Capital Fund.
While the EU has produced a lot of supply chain regulation, the US is naturally a major market in the space. With the new capital, Prewave plans to expand its European presence and move into the US . Additional funding will also go toward increased spend on AI research and development.
The company has around 180 staff and plans to double headcount in the next two years, Smith added.
Check out Prewave's Series B pitch deck below: