Israeli blockchain startup, WaveBL, announced it secured an additional $11 million in Series B funding, bringing its total funding to $37 million.
WaveBL's multi-carrier solution, trusted by major ocean carriers, freight forwarders, and industry leaders, adheres to universal processes and regulations. Their platform facilitates instant, encrypted, and authenticated exchanges of electronic Bills of Lading and related trade documents, complying with global standards and regulations.
Given the complexities and increased risks associated with disrupted trade routes, ensuring the security and compliance of trade documents is more critical than ever.
The investment, coming from key players in the supply chain and trade finance sectors, is expected to accelerate WaveBL's development of a complete solution for digital trade documents. Their solution will cover all stages, from issuing to customs clearance.
Their $26 million Series B round closed last year in June. The startup was founded in 2022 by Or Garbash and Noam Rosenfeld. The startup's technology is used by a number of ocean carriers and NVOCCs, including MSC, ZIM, Hapag Lloyd, ONE, Leschaco, and Saco.