Innovation, Startups and Venture Capital in Iceland

Controlant raises $7.7m (960m. ISK)

Gísli Herjólfsson

Gísli Herjólfsson, co-founder & CEO, Controlant

Last autumn, Controlant, a company focusing on the temperature-controlled supply chain, raised $7.7m (960 m. ISK). The investors were primarily HNWI and family offices, both local and foreign.

Controlant’s mission is to ensure consumer safety and decrease waste by digitally connecting the end-to-end supply chain. The last two years were spent establishing the framework for growth, investing in infrastructure and hiring key employees.

Controlant states that “cold chain waste (medicines and vaccines) in Iceland is less than 0.5% due to Controlant’s solution,” and that their aiming is to bring the use case global.

In a statement, Controlant said that “the investment will be used to fund ongoing expansion and growth, both in terms of development and expanding the operations in relation to deployment of their solutions with global pharmaceutical enterprises.”

Currently, Controlant is working with several of the top 15 global pharmaceutical companies on pilots or global roll-outs, expecting 3-5 new roll-outs with with top 10 global pharmas in 2020.

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