WaveBL Team (company pic)
WaveBL, an Israeli startup that offers services for providing electronic bills, raised an additional $11 million from new investors who specialize in the bulk-liquid and smart logistics sectors for its Series B funding, which was led by NewRoad Capital Partners taking it to a total of $37 million. Meanwhile, Vintage Investment Partners closed its 4th growth-stage venture fund (Growth IV) at $200 million, above its target of $175 million.
Founded in 2003, Vintage Investment Partners is headquartered in Israel, with a strong footprint in the U.S. and Europe, and over $3.6 billion in assets.
“We raised most of the money during last summer and continued during the war with several entities that we had already worked with, reaching over $200 million,” Asaf Horesh, General Partner at Vintage Investment Partners, told Calcalist. “The first growth fund was raised 12 years ago, marking the inception of the first dedicated growth fund in Israel. At that time, there wasn’t enough growth capital in Israel.
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Founded in 2015 and led by former technological leaders and experts from the Israel Defense Forces, WaveBL is a digital platform using proprietary blockchain technology to transfer electronically trade documents. The company says that its 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 says it has strong alliances with leading companies in global trade to drive faster digitalization and adoption.
“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.”
