🇮🇸 Controlant closes a $35 million funding round to advance market expansion and strategic product development
Controlant announces that it has successfully completed a $35 million financing round to seize opportunities in the ongoing digital transformation of pharma supply chains. The funding consists of $25 million in equity raised by new investors and current shareholders as well as a $10 million debt facility.
The funding positions Controlant to drive market expansion and strategic product development, leveraging significant opportunities in the ongoing digital transformation of pharma supply chains. In partnership, Controlant strives to empower its customers to reduce waste and ensure patient safety at every step of the supply chain through real-time visibility, automation, and digitalization.
Søren Skou, Chairman of the Board of Directors of Controlant:
“Controlant is at a pivotal moment on its journey, having established itself as a market leader. Through strong shareholder support, we have made significant investments in a foundation including a proven portfolio of pharma-validated, real-time visibility solutions, which has created competitive advantage and helped secure partnerships with the world’s leading pharmaceutical companies and logistics providers.
“While sales and implementation processes are protracted, the fundamental direction of the pharmaceutical sector is unchanged: supply chain digitalization is inevitable. Closing the funding round is an important milestone toward sustainable growth, delivering value for our stakeholders, propelling our customers’ success in a rapidly evolving industry, and realizing zero-waste pharma supply chains.”
Steps towards long-term ambitions
Over the past year, Controlant has taken steps toward resilient operations, while evolving its organization to meet current and future market demands. The company is implementing targeted cost reduction and efficiency initiatives alongside market expansion, supporting the path towards sustainable growth.
Future-proof supply chains through innovation
The company continues to prioritize building solutions that enable its customers to future-proof their pharma supply chains and succeed in a rapidly evolving industry.
Controlant’s latest innovation, Saga Card, developed in collaboration with a consortium of partners, will bring unprecedented end-to-end visibility into the journey of medicines and vaccines, from production to patient. The new, compact IoT device represents a significant leap from today’s real-time visibility at the pallet level. When combined with Controlant’s Aurora platform, it will provide real-time visibility at country, region, and city levels, down to secondary packaging, including cases and cartons.
The company’s advisors in this funding round are Arion Bank and BBA/Fjeldco.
About Controlant
Controlant is a global leader in the digital transformation of pharma supply chains. Our vision is to deliver zero-waste supply chains for our partners and the planet through digitalization, automation, and transformation of the pharma supply chain. Our validated real-time visibility platform, command center, services, and advanced IoT devices, are trusted by many of the world’s leading pharmaceutical and logistics companies to make their operations significantly more reliable, cost-effective, and sustainable. Ultimately, our solutions help get life-saving medicines to more patients, curing more diseases. Controlant was founded in 2007, and is headquartered in Iceland with operations in Denmark, the Netherlands, USA, and Poland.
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Originally published on 7 November by Controlant.
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