WaveBL, an electronic Bill of Lading (eBL) provider, has secured a US$26 million Series B Funding Round, which was led by US investment firm NewRoad Capital Partners.
Existing investors ZIM, Marius Nacht, Contour Venture Partners, Frank Sica, and Techstars Central LLC also participated in this funding round, while there was a new investor, Reefknot Investments, backed by Temasek and Kuehne + Nagel.
“The funding will fuel WaveBL’s global growth and market expansion in the digital trade documents sector,” noted the company, which is led by former technological leaders and experts from the Israel Defense Forces.
WaveBL says its blockchain technology enables the instantaneous, secure, and authenticated transfer of unique electronic trade documents, ensuring compliance with universal processes and regulations.
WaveBL pointed out that its multi-carrier platform is trusted by the world’s largest ocean carriers and NVOCCs, including MSC, ZIM, Hapag Lloyd, ONE, Leschaco, and Saco.
“Our goal is to streamline, speed up and reduce the cost of global commerce by breaking the trade industry’s paper addiction,” stated Noam Rosenfeld, CEO of WaveBL, who went on to highlight, “We offer blockchain technology as the new gold standard for trust between trade partners, a game changer for international trade. The investment will be used to expedite our growth by increasing our employee base, primarily in sales, marketing, and R&D.”
