Container line ZIM reports that it has made an additional investment in paperless Bill of Lading company WAVE BL to support the further development of its digital trade documentation system for the shipping industry.
ZIM was joined by Marius Nacht, one of Israel’s leading investors, in fronting the Series B Financing round, which raised approximately $8 million.
ZIM took part in its first electronic bill of lading pilot in 2017 using WAVE BL’s platform and has since widely expanded its use, with the digital documents currently offered to ZIM customers worldwide following an onboarding process managed by the shipping company itself.
“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,” said ZIM President and CEO Eli Glickman.
“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 digitised and sustainable future, in accordance with our vision and values.”