Prewave secures €63 million to advance sustainability and compliance in supply chains.

Prewave, an AI platform specializing in sustainability, risk management, and compliance, has raised €63 million in its Series B funding round, bringing its total funding to over €90 million. The platform addresses significant challenges in supply chains, including disruptions from natural disasters, labor shortages, and geopolitical instability, which have escalated supply chain risks and costs for businesses.

In response to tightening regulations, such as the EU’s Deforestation Regulation and Corporate Sustainability Due Diligence Directive, Prewave offers advanced AI-driven tools to enhance supply chain transparency and compliance. It identifies and manages 140 global risk types, covering resilience, sustainability, and regulatory compliance issues.

Prewave’s technology automates the mapping, scoring, and monitoring of millions of supply chain nodes using data from diverse sources like news, social media, and regulatory feeds. This approach provides real-time predictive alerts and actionable insights, enabling businesses to streamline their risk management processes significantly.

Founded on extensive research and development, Prewave has achieved rapid growth, particularly in Europe, with a threefold increase in annual revenue in 2023. The platform serves over 200 companies, including prominent names like Lufthansa and Toyota, helping them navigate complex regulatory landscapes and strengthen supply chain resilience and sustainability.

Harald Nitschinger, co-founder of Prewave, emphasized the transformative role of data and AI in driving supply chain transparency and resilience amid evolving regulatory challenges. The funding round was led by Hedosophia, supported by existing investors Creandum, Ventech, Kompas, Speedinvest, and Working Capital Fund.