Digital electronic bills of lading (eBL) platform, WaveBL secured an additional $11 million, catapulting total Series B funding to an impressive $37 million led by NewRoad Capital Partners.
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This funding 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.
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“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.”
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“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.”
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About WaveBL
Founded in 2015, WaveBL is a digital electronic bills of lading (eBL) platform using proprietary blockchain technology to transfer electronically trade documents. The WaveBL electronic shipping 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.
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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.
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