WaveBL Secures an Additional Funding of $11M for a Total Series B Funding of $37 Million

WILMINGTON, Del., Jan. 11, 2024 /CNW/ -- WaveBL, the market leader in the digital trade document sector, announced today that it has raised an additional $11 million from new investors who specialize in the bulk-liquid and smart logistics sectors. This additional amount adds to the Series B funding, which was led by NewRoad Capital Partners, and will help the company continue to solidify its position as an industry leader by expanding new offerings and supporting scenarios that establish a new benchmark of trust and efficiency in international trade.

"This additional funding illustrates the importance of moving to digital documents for the global trade industry and the interest of the investor community in our WaveBL platform," stated Micha Shahaf, CFO at WaveBL. "With this latest investment, we have closed our 2023 financing round of $37M, of which the latest Series B funding round of $11 million is a combination of equity and venture debt."

"The investment round further emphasizes the significance of our robust patented blockchain-based technology for international trade," added Noam Rosenfeld, CEO at WaveBL. "The additional investment, originating from strategic ventures deeply rooted in the supply chain and trade finance, will expedite our plans to offer a comprehensive digital trade documents solution from issue to customs. It bolsters our vision for a secure solution in transferring original and unique documents for every requirement across any domain worldwide."

WaveBL has become the premier digital platform for the swift, secure, and authenticated transfer of original and unique electronic trade documents. The WaveBL multi-carrier solution is trusted by the world's largest ocean carriers, freight forwarders, and industry players while complying with universal processes and regulations.

About WaveBL

WaveBL is a digital platform using proprietary blockchain technology to electronically transfer trade documents. The WaveBL solution enables the instant, encrypted, and authenticated transfer of electronic Bills of Lading and related trade documents. The platform complies with universal processes and regulations in use. The platform is designed to meet the needs of all parties involved in trade, including shipping companies, agents, brokers, and banks. WaveBL has strong alliances with leading companies in global trade to drive faster digitalization and adoption.
www.wavebl.com

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SOURCE WAVE BL