Controlant completes a $15 million Series B funding round backed by Sjóvá and VÍS.

Iceland Investments 30 September 2020
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Controlant, a Reykjavik, Iceland-based developer of digital supply chain visibility solutions, announced it has closed a $15 million Series B funding round.

The money was raised from local investors from Iceland, including insurance companies Sjóvá and VÍS. The deal was managed by Arion Bank Corporate Finance.

Controlant, founded in 2007 and led by CEO Gísli Herjólfsson, aims to ensure consumer safety and decrease waste by digitally connecting the end-to-end supply chain. The company's product - Cold Chain as a Service - is a combination of IoT, visibility and analytics through its cloud software platform, helping companies – among other things – track product condition from manufacture through last mile in highly regulated industries. The company is currently supporting the distribution of Covid-19 test kits, has partnered with global pharmaceutical manufacturers to monitor the distribution of COVID- 19 vaccines when they get regulatory approval.

Prior to this deal, Controlant secured roughly $10 million from two tranches of outside funding.