Prewave, an AI-powered supply chain risk platform based out of Vienna has picked up €18 million in Series A+ funding. The investment round was led by Creandum, a European early-stage investor that recently backed Mason, Kive, and Timberhub, with existing investors Ventech, KOMPAS, seed+speed, Segnalita, Speedinvest, Working Capital Fund, and xista science ventures.
This round follows the €11 million Series A round that it secured eight months back. The investment will be used to help expand its end-to-end supply chain platform, making supply chains more transparent, resilient, and sustainable. It will help clients predict, find, understand, and categorise risks within supply chains.
Prewave co-founder Harald Nitschinger explained, “Prewave has pioneered a comprehensive solution for supply chain risk monitoring and compliance, that establishes Prewave as first mover and a key player in the supply chain risk discipline. Now the time has come to become the first true, end-to-end operating system for supply chain risk.”
Creandum Partner Sabina Wizander commented, “Increased disruption, political instability, consumer consciousness, and changing regulation uncover the painful truth that current supply chain risk management is not serving the complex environment in which we live. Prewave has built a first-of-its-kind solution that allows companies to take action on their supply chain in real time. Its dynamic supplier risk score creates much-needed transparency.”
AI-powered supply chain risk platform
Prewave was founded by Harald Nitschinger and Lisa Smith in 2017 in Vienna, Austria. The company has developed its own proprietary “crawler” that finds publicly available information across dozens of languages. It crunches all the data and delivers a dynamic supplier risk score that changes in line with all the new data it ingests.
This Austrian startup aims to become an all-inclusive solution for managing supply chain risks, covering every phase of the risk lifecycle. By identifying, analysing, mitigating, and reporting risks, the platform provides a complete end-to-end approach for a more transparent, resilient, and sustainable supply chain.
Its clientele includes BMW, PwC, and Lufthansa, and it helps them monitor their entire supply chain and equip users with the ability to execute corrective and preventive measures, minimising risk and enhancing individual supplier performance.
