iceland’s controlant, with $50m backing, emerges as key player in cold chain for covid-19 vaccine

An Icelandic company is playing a significant role in the global distribution of a leading coronavirus vaccine. Controlant – a firm specializing in real-time supply chain oversight utilizing GSM networks, with a particular focus on the pharmaceutical and life sciences sectors – has verified that it is supplying its monitoring services to Pfizer as they distribute the Pfizer-BioNTech COVID-19 vaccine internationally. The Controlant system utilizes screen-equipped IoT tags that connect via GSM networks and transmit data to web-based and mobile applications.

The governor of New York recently displayed a package (shown in the image above and accompanying video) containing the vaccine, which featured an unidentified tag resembling a Controlant GSM tracking device. Following inquiries from TechCrunch, Controlant confirmed that the device was, in fact, their technology.

In September, Controlant received $15 million in Series B funding to support the expansion of its real-time Cold Chain as a Service platform. The company’s investor base is primarily located in Iceland, including Sjova and VIS. Frumtak, an Icelandic venture capital firm, initially invested in Controlant in 2011. This latest funding round brings the total investment in Controlant to $50 million. Frumtak recently divested 11% of its Controlant ownership (through a transaction facilitated by Arion Bank) for approximately $14 million, while retaining a 13% stake via its Frumtak II fund.

Beyond providing visibility and monitoring solutions to Pfizer, Controlant is also collaborating directly with the U.S. government, the CDC, the U.S. Department of Health and Human Services, and partners involved in “Operation Warp Speed”. The platform is being utilized throughout the entire U.S. vaccine supply chain.

Gisli Herjolfsson (pictured), co-founder and CEO of Controlant, stated: “Controlant has developed considerable expertise in vaccine supply chain management, and we are pleased to apply our solutions to the complete supply chain for the mRNA-based Pfizer-BioNTech COVID-19 vaccine, both through our direct work with Pfizer and with government organizations.”

Controlant’s IoT devices, shipped alongside the vaccines, record environmental data, including timing, temperature, and light exposure, and transmit this information in real-time to the company’s exclusive platform.

The following video shows Governor Andrew Cuomo demonstrating the standard packaging to which Controlant devices are attached: