Controlant, a Reykjavik, Iceland and San Francisco, CA-based provider of digital supply chain visibility solutions, secured $15m in Series B funding.
The round – which brought total funding to $50m – was led by current shareholders and local institutional investors. Also participating were existing and incoming private investors and family offices.
The company intends to use the funds for market and customer expansion.
Led by Gisli Herjolfsson, co-founder and CEO, Controlant provides a real-time Cold Chain as a Service® Digital Visibility Platform, which uses IoT, cloud-enabled advanced analytics, API connectivity, and cost-reducing operational services to bring visibility and responsiveness to global temperature-controlled supply chains to enterprises in the pharmaceuticals & life sciences and food & beverage sectors and their supply chain stakeholders.
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.