Frumtak exits its Controlant stake for $14.5 million

Iceland Secondary 27 November 2020
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Controlant, a Reykjavik, Iceland-based developer of digital supply chain visibility solutions, announced that its investors Frumtak Ventures sold their equity position in the company.

The deal was made with local investors Investco ehf for its full equity stake of 11.33% for $14.5 million.

Frumtak has been a shareholder in Controlant since 2011.

Controlant, founded in 2007 and led by CEO Gísli Herjólfsson, develops software that helps companies ensure consumer safety and decrease waste by digitally connecting the end-to-end supply chain. The company announced a $15 million Series B funding round backed by Sjóvá and VÍS a couple of months ago.