Today Israel’s WaveBL, the provider of blockchain-based electronic bills of lading (eBL), announced a $26 million Series B funding led by NewRoad Capital Partners. Bills of lading are the record of cargo loaded onto a vessel. It was joined by new investor Reefnot Investments, which is backed by Temasek and logistics giant Kuehne + Nagel.
Existing investors, including ZIM, Marius Nacht, Contour Venture Partners, Frank Sica, and Techstars, contributed to the funding.
Last September, WaveBL announced it had processed 100,000 bills of lading in the first nine months. Its clients include the largest container shipping line MSC, as well as ZIM, Hapag Lloyd and ONE. It also provides services to tanker firm Leschaco and Saco, which operates similarly to a carrier but doesn’t own any ships.
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