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Accelerating the journey towards zero-waste supply chains 

Controlant announces the completion of an $80 million funding round to support further investment in innovation and strategic business expansion. 


Controlant has secured an $80 million funding aimed at bolstering innovation and facilitating strategic business expansion. In tandem with the funding, the company is implementing workforce alignment measures, reflecting the shift in demand for COVID-19 vaccines from a pandemic to a normalized mode. These initiatives will support Controlant in achieving its long-term strategic growth objectives. 

Strong foundation for long-term, sustainable value-creation    

Controlant has successfully secured $40 million in funding led by the Icelandic pension fund Gildi, with participation from other pension funds, as well as private investors and current shareholders. The funding comes on the back of the earlier completion of $40 million in debt financing from funds advised by Apax Credit in September.  

As the demand for COVID-19 vaccines normalizes, Controlant is implementing workforce alignment measures to adapt to the scale of the ongoing operation of the business post-pandemic. The measures affect 80 roles in all divisions and locations across the company.  

With these initiatives, the company is in a strong position to accelerate innovation, drive market expansion, and fully leverage its technological leadership with a focus on its core operations and strategy to deliver long-term, sustainable value. 

Gisli Herjolfsson, CEO and co-founder:   

“We are pleased to announce a successful financing round which will support further investments in innovation and strategic business expansion. 

“We are grateful for the support from our Icelandic pension fund partners, current shareholders, and private investors, as well as Apax, and for their confidence in our business model and growth prospects.  

“While our core business is growing steadily and we experience more customer interest than ever, we are also seeing demand for COVID-19 vaccines transition into post-pandemic levels towards the end of this year and into 2024. As a result, we need to adjust the size of our team and today we are saying goodbye to many cherished colleagues, who played a part in meeting the pandemic challenge and who helped make Controlant the global leader it is today. Ultimately, our efforts during the pandemic saved lives, and improved health for people across the world by ensuring swift and safe vaccine availability. We can be proud of what we accomplished together, and we owe great thanks to everyone in Controlant, including the people leaving today.   

“Building on our market leadership in real-time solutions for pharma supply chains, we are now ready to transition to the next phase.  

“ I am excited about the future ahead. Following these changes, we have a team of 450 people across five countries united in realizing our ambitious vision of zero-waste pharma supply chains and having significant impact on reducing waste and ensuring patient safety every step of the way.”   

David Rudolfsson, Chief Investment Officer at Gildi pension fund:

"We at Gildi are pleased with participating in Controlant’s capital increase and supporting its next chapter towards future growth. Based on our review of the company’s operations, its competitive position, and market opportunities, we are optimistic about its prospects. We are confident about the future growth opportunities and excited to see the next steps of the journey unfold."   

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