diff --git a/.versionbot/CHANGELOG.yml b/.versionbot/CHANGELOG.yml
index 808a4c8..cecc67f 100644
--- a/.versionbot/CHANGELOG.yml
+++ b/.versionbot/CHANGELOG.yml
@@ -1,3 +1,51 @@
+- commits:
+    - subject: Update layers/meta-balena to 43bf9f98db7de74bce36141f5e55c4dcffb7e060
+      hash: 6e62070315fafe06f85fab752d14e4fbececc827
+      body: Update layers/meta-balena
+      footer:
+        Changelog-entry: Update layers/meta-balena to 43bf9f98db7de74bce36141f5e55c4dcffb7e060
+        changelog-entry: Update layers/meta-balena to 43bf9f98db7de74bce36141f5e55c4dcffb7e060
+      author: Renovate Bot
+      nested:
+        - commits:
+            - subject: "initrdscripts: give the root device a chance to come up before
+                cryptsetup"
+              hash: 23b87079d424fa52753949d46a89d872360ee4ff
+              body: >
+                At this moment if the cryptsetup initrd script executes before
+                the root
+
+                device comes up (e.g. when booting off a USB disk), it assumes
+
+                that encryption is not in place because it was not able to find
+
+                the EFI partition.
+
+
+                This patch adds a wait4file loop to the script that waits
+
+                for the /dev/disk/by-state directory. This is not tied to any particular
+
+                partition or device but since the directory does not exist by default
+
+                and is only created by a custom balenaOS udev rule, its existence
+
+                implies that the rule fired and a device with balenaOS partitions
+
+                is present in the system.
+              footer:
+                Change-type: patch
+                change-type: patch
+                Signed-off-by: Michal Toman <michalt@balena.io>
+                signed-off-by: Michal Toman <michalt@balena.io>
+              author: Michal Toman
+              nested: []
+          version: meta-balena-2.114.16
+          title: ""
+          date: 2023-05-02T23:16:09.725Z
+  version: 2.114.16
+  title: ""
+  date: 2023-05-03T02:06:50.159Z
 - commits:
     - subject: Update layers/meta-balena to 6dea3e6c37f789704d95485ed1ddab2b63226111
       hash: 6388be6d0f46d468e34670dd58601150d4f5d3ac
diff --git a/CHANGELOG.md b/CHANGELOG.md
index bd3d6ff..40f2cf9 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,6 +1,21 @@
 Change log
 -----------
 
+# v2.114.16
+## (2023-05-03)
+
+
+<details>
+<summary> Update layers/meta-balena to 43bf9f98db7de74bce36141f5e55c4dcffb7e060 [Renovate Bot] </summary>
+
+> ## meta-balena-2.114.16
+> ### (2023-05-02)
+> 
+> * initrdscripts: give the root device a chance to come up before cryptsetup [Michal Toman]
+> 
+
+</details>
+
 # v2.114.15
 ## (2023-04-28)
 
diff --git a/VERSION b/VERSION
index 6c2e0b5..021f20e 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-2.114.15
\ No newline at end of file
+2.114.16
\ No newline at end of file