Controlant receives €37.4M in new financing from Apax Credit Funds. | Image credit: Controlant
Iceland-based Controlant, a digital supply chain visibility company, announced that it has raised €37.4M from Apax Credit Funds, the credit investment arm of London-based private equity firm Apax Partners.
Controlant aims to deliver zero-waste supply chains, including for its partners in the global pharmaceutical industry. Its supply chain model utilises digitalisation, automation, and transformation of the pharma supply chain itself.
Making next gen zero-waste pharma supply chain
Gisli Herjolfsson, CEO and co-founder of Controlant, says that modern supply chains need to “adapt” to the innovation pace of pharma companies. In his words, modern supply chains need to serve as enablers to ensure medicines reach patients safely and sustainably.
“That is our vision, and we are working tirelessly to create the next generation of zero-waste supply chains for our pharma customers,” says Gisli.
Albert Costa Centena, Principal of Credit Team of Apax Credit, says that Apax’s credit strategy offers “flexible capital solutions” for outstanding businesses across its four core sectors.
“Leveraging insights from across Apax and Apax Credit, we were pleased to provide a tailored solution for Controlant, designed to help the company in its next phase of growth,” says Albert.
Albert adds that Apax is excited about partnering with Controlant and leveraging Apax’s sector insights, operational expertise, and the wider Apax platform to support a business.
This cooperation is necessary for leveraging a business that lies “at the cutting edge” of real-time visibility technology for pharma supply chains.
About Controlant
Founded in 2007, Controlant gained a foothold in the Icelandic pharmaceutical industry during the peak of the 2009 swine flu (H1N1) pandemic. At the time, the startup was responsible for monitoring the storage and delivery of Iceland’s H1N1 vaccine supply.
Since then, digital transformation in pharma supply chains has become necessary to simplify the work process. Controlant increased its prominence during the COVID-19 pandemic when the company was responsible for delivering Pfizer vaccines.
The success of distributing over five million Pfizer vaccines significantly boosted Controlant’s reputation in the global pharmaceutical industry.
In order to assist partners in the industry, Controlant uses a holistic solutions framework supported with a cloud-enabled software platform and high-end IoT devices. All of these infrastructure are enhanced with cost-cutting operational services to improve supply chain efficiency and responsiveness.
Controlant underlines the sustainability principle in helping its pharma partners. To implement this principle, Controlant uses reusable IoT devices, real-time shipment visibility, and reverse logistics to reduce CO2 emissions and potential waste from material losses.
In its current climate action plan, Controlant seeks to establish a greenhouse gas emission baseline in 2023. It also aims to present an annual report of its sustainability information starting from the same year.
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