Prewave, a startup with headquarters in Vienna, recently secured €18 million for its end-to-end supply chain platform. The firm now has expansion plans to improve the sustainability, resilience, and transparency of supply chains.
Demand from customers, governmental restrictions, and other external factors all have a significant impact on supply chains, which rely on a complex web of links. Supply networks are becoming more difficult to manage as sustainability demands grow and larger geopolitical and climate factors become more apparent.
Businesses now confront a greater number of supply chain obstacles, such as worries about ESG, disruptions, visibility, and compliance.
Prewave was created in 2017 with the goal of enhancing the manageability and resilience of supply chains. The firm provides a platform for risk management and compliance, and it recently received €18 million to expand.
Creandum took the lead in the Series A+ financing. Existing investors Working Capital Fund, KOMPAS, Ventech, seed+speed, Segnalita, Speedinvest, and xista Science Venture also took part.
Prewave, created by Dr. Lisa Smith and Harald Nitschinger, seeks to become a comprehensive supply chain risk management solution that addresses every stage of the risk lifecycle. The platform offers a complete end-to-end solution for a more transparent, robust, and sustainable supply chain by recognising, analysing, reducing, and reporting risks.
“Prewave started 2022 with a team of 20 employees, but as a testament to its remarkable growth and success, the company has now exceeded 100 employees,” said co-founder Harald Nitschinger. The significant revenue growth Prewave has had over the past year is mirrored by this expansion. Prewave has already established itself as a pioneer and a major player in the supply chain risk discipline by developing a comprehensive solution for supply chain risk monitoring and compliance. The moment has come for supply chain risk to become the first real, end-to-end operating system.
Stricter international supply chain standards and considerable reputational costs for companies affected by ESG incidents inside their supply networks are results of an increase in demand for sustainability. As a result of external variables like pandemics and international conflicts as well as a variety of sophisticated, interconnected problems, supply chain interruptions have recently been associated with high prices.
Prewave, situated in Vienna, offers users a dynamic supplier risk score that is produced from a supply chain analysis using big data. It gives users the capacity to implement corrective and preventive measures, minimising risk and improving the performance of each individual provider, and it enables businesses to monitor their whole supply chain. In turn, this makes it simple for firms to comply with international laws like the German Supply Chain Act and the upcoming European Supply Chain Due Diligence Directive.
Customers of the startup at the moment include BMW, PwC, and Lufthansa. The strategy now is to scale.
Partner at Creandum, Sabina Wizander: “More disruption, political unpredictability, consumer awareness, and evolving regulations expose the harsh fact that present supply chain risk management does not adequately address the complexity of our environment. Prewave has created a ground-breaking product that enables businesses to make real-time supply chain decisions. Through its dynamic supplier risk score, much-needed openness is created.To lead Prewave’s Series A+ round, we are thrilled to do so for this reason. Prewave is an all-inclusive system that enables businesses to take charge of their supply chain. We are thrilled to support Lisa, Harald, and crew since high client demand across industries and regions indicates the need for their product.