The functionality of supply chains is of central importance in an economy based on the global division of labour. Early identification and availability of information about the threat to supply chains – this is what Vienna-based startup Prewave GmbH specializes in. A concept that is obviously convincing. Under the leadership of the Viennese aws Gründerfonds, several venture capital investors have now provided a seven-digit sum for the expansion of the business model. This article is based on the unique List of the 200 most important venture capital investors Germany.
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Early detection of risks to supply chains using artificial intelligence
Prewave is a typical spin-off and was founded in 2017 by Lisa Smith together with Harald Nitschinger. Having just completed her doctorate at the Vienna University of Technology, Smith used it to put her findings from several years of research work into practice. At Prewave, intelligent software is being developed that systematically scans news media, social media and other formats for information about threats to supply chains. The system works with both text and language analysis and systematically evaluates up-to-date news in more than 50 different languages. Users can thus identify risks to their supply chains at an early stage and prepare for them.
aws Gründerfonds is a subsidiary of Austria Wirtschaftsservice Gesellschaft mbH. It is the development and financing bank of the Republic of Austria, which functions similarly to the German Kreditanstalt für Wiederaufbau. The aws has equity capital of around 68.5 million euros. To date, a total of 34 innovative start-ups have received financial support – including Prewave. An exit has already been realised 10 times. The Prewave commitment was made together with other venture capital investors. Also involved are seed & speed Ventures, a Berlin-based early-stage investor, Segnalita Ventures GmbH from Wattens, Austria, the Paris-based venture capital investor Ventech and IST Cube – a venture capital fund from Klosterneuburg/Lower Austria focusing on science-related start-ups.
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