Israeli blockchain startup, WaveBL, has recently announced that it has raised an additional $11 million in Series B funding, bringing its total funding to $37 million. The investment, which comes from key players in the supply chain and trade finance sectors, is expected to accelerate the development of WaveBL’s complete solution for digital trade documents.
WaveBL’s platform offers a trusted multi-carrier solution that is utilized by major ocean carriers, freight forwarders, and industry leaders. It ensures the security and compliance of trade documents by facilitating instant, encrypted, and authenticated exchanges of electronic Bills of Lading and related documents, in adherence to global standards and regulations.
In light of the complexities and increased risks associated with disrupted trade routes, the importance of secure and compliant trade documents has only grown. WaveBL’s solution aims to address this need, covering all stages of the trade process, from issuing to customs clearance.
The $11 million Series B funding round follows the startup’s successful $26 million round, which closed in June of last year. WaveBL was founded in 2022 by Or Garbash and Noam Rosenfeld, and their technology is already being used by several ocean carriers and NVOCCs, including MSC, ZIM, Hapag Lloyd, ONE, Leschaco, and Saco.
With this additional funding, WaveBL is well-positioned to continue its mission of revolutionizing the trade industry through its innovative blockchain-based solution. The company is committed to providing a secure, efficient, and transparent platform that meets the evolving needs of the global trade community.
The source of the article is from the blog macholevante.com