– ICELAND, Reykjavik – Controlant, an emerging leader in digital supply chain visibility solutions, today announced that it has secured $15 million in an oversubscribed Series B funding round led by current shareholders and local institutional investors, bringing total funding to $50 million.
This new funding will drive the market expansion of its real-time Cold Chain as a Service Digital Visibility Platform, which brings unprecedented visibility, efficiency, and responsiveness to global temperature-controlled supply chains.
Controlant will utilize the capital to power the rapid expansion of its addressable markets, geographic footprint, and expanding customer base. The company is currently supporting the distribution of COVID-19 test kits and has partnered with global pharmaceutical manufacturers to monitor the distribution of COVID-19 vaccines, which, pending regulatory approval, are expected to begin shipping later this year.
“Our mission is to help companies ensure product integrity while increasing supply chain efficiency and serving their customers better. Our solution looks beyond traditional monitoring technologies and is automating product and information flows through actionable data, transforming supply chains from cost centers into strategic revenue generators,” said co-founder and CEO, Gisli Herjolfsson. “Using our integrated platform technology and services, Fortune 500s and large enterprises gain a single source of truth across their end-to-end supply chains, while significantly reducing waste.”
Controlant’s Cold Chain as a Service solution is a powerful combination of IoT, advanced visibility and analytics through its cloud-enabled software platform, and cost-reducing operational services that increase workflow efficiency and responsiveness while supporting quality and compliance efforts.
“Controlant is uniquely transforming the way global enterprises will collect, use, and share their supply chain data while optimizing their business operations,” said Benedikt Gislason, CEO at Arion Bank. “The world’s supply chains are undergoing a multi-trillion dollar shift to digital, and Controlant is in the vanguard as a leader in actionable visibility. We are pleased to support a leading Icelandic technology company as an investor and advisor as they lead the global market in the Cold Chain as a Service category.”
Controlant’s mission is to deliver value across the end-to-end supply chain by dramatically increasing the visibility of product flow and condition quality, while minimizing waste through a completely new category of automated Cold Chain as a Service solutions. Using its IoT, cloud-enabled advanced analytics, API connectivity, and cost-reducing operational services, customers are achieving an annualized ROI and millions in savings, reducing material losses, and enhancing the reliability of their operations. Controlant is empowering Fortune 500s and world-leading enterprises in the pharmaceuticals & life sciences and food & beverage sectors and their supply chain stakeholders to achieve greater efficiency by automating their business processes and optimizing communication through technology.
For more information: https://controlant.com/
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