Digital supply chain visibility startup Controlant, based in Iceland, reported raising €37.4M from Apax Credit Funds, the credit investment division of private equity firm Apax Partners, based in London.
Controlant wants to deliver zero-waste supply chains to all its business partners, including those in the international pharmaceutical sector. Its supply chain concept uses the pharma supply chain’s digitalization, automation, and change.
Creating a new, waste-free pharmaceutical supply chain The CEO and co-founder of Controlant, Gisli Herjolfsson, asserts that contemporary supply chains must “adapt” to the pharma industry’s rapid pace of innovation. According to him, contemporary supply chains must act as enablers to ensure that medications are delivered sustainably and safely to patients.
That is our goal, and we are making every effort to build the next generation of waste-free supply chains for our pharmaceutical clients, according to Gisli.
According to Apax Credit Principal of Credit Team Albert Costa Centena, Apax’s credit strategy provides “flexible capital solutions” for exceptional companies in its four main industries.
“We were pleased to provide a tailored solution for Controlant, designed to help the company in its next phase of growth,” adds Albert. “Leveraging insights from across Apax and Apax Credit, we were able to do this.”
According to Albert, Apax is enthusiastic about working with Controlant and utilizing its industry knowledge, operational know-how, and larger Apax platform to support a firm.
Using a company “at the cutting edge” of real-time visibility technologies for pharmaceutical supply chains requires this partnership.
Controlant, established in 2007, established a presence in Iceland’s pharmaceutical market at the height of the H1N1 pandemic in 2009. The business was in charge of monitoring the delivery and storage of Iceland’s H1N1 vaccination stock.
Since then, it has been important for pharma supply chains to undergo digital transformation to streamline the work process. The firm gained notoriety when Controlant was in charge of shipping Pfizer vaccinations during the COVID-19 epidemic.
Controlant’s standing in the international pharmaceutical sector was greatly improved by the distribution of more than five million Pfizer vaccinations.
Controlant uses a comprehensive solutions framework, supported by a cloud-enabled software platform and top-of-the-line IoT devices, to help partners in the sector. To increase the effectiveness and responsiveness of the supply chain, all of this infrastructure has been improved with cost-cutting operational services.
When assisting its pharma partners, Controlant emphasizes the sustainability idea. Reusable IoT devices, real-time shipment visibility, and reverse logistics are all used by Controlant to put this theory into practice and lower CO2 emissions and possible waste from material losses.
Controlant plans to set a baseline for greenhouse gas emissions in 2023 as part of its existing climate action plan. Beginning in the same year, it also plans to deliver an annual report on its sustainability data.