The two investors co-lead a round of approximately $8 million that will accelerate global implementation of WAVE BL's proven technology.
ZIM pioneered the first paperless electronic bill of lading pilot in the shipping industry in 2017 using WAVE BL's platform and has since widely expanded its use. Electronic bill of lading is currently offered to ZIM customers worldwide, requiring only a simple onboarding process which is supported by ZIM.
Digitisation of bills of lading reduces time, complexity, errors and costs for all parties involved, while maintaining a high level of security, and is far more sustainable than the traditional paper bill of lading.
Proceeds will be used to support development of WAVE BL's business and further implementation of its pioneering technology supporting paperless trade in the shipping industry, as well as in other sectors.
ZIM president and CEO Eli Glickman, said: "Our early adoption of WAVE BL's blockchain based platform to promote paperless trade highlights our leadership in utilising digital strategies to best serve customers and has proven extremely successful for ZIM and for changing the industry. Today, ZIM is an industry leader in paperless shipping processes, and we are seeing growing interest from others in our sector to adopt the platform reflecting the significant benefits it provides to both customers and carriers. This new investment in WAVE BL is a step forward in the path to a more digitized and sustainable future, in accordance with our vision and values."
WAVE BL CEO Gadi Ruschin, said: "Our partnership with ZIM has enabled us to introduce our pioneering technology to a vast audience as we endeavour to become the shipping industry standard in paperless trade. We are extremely pleased with the continued faith and commitment of ZIM and Marius Nacht in our company and look forward to leading the wave of the future in shipping."