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Icelandic Pharmaceutical Supply Chain Technology Company Raises almost $8m USD

Controlant, a pharmaceutical supply chain company from Iceland, focusing on ensuring consumer safety and decreasing waste by digitally connecting the end-to-end supply chain, has successfully raised $7.7m (960m ISK).  Controlant has indicated that “the investment will be used to fund ongoing expansion and growth, both in terms of development and expanding the operations in relation to deployment of their solutions with global pharmaceutical enterprises.”
The growth medical technology company has been in the news of late. In December 2019, Controlant received an SDCE Green Supply Chain Award for putting sustainability at its core supply chain strategy, as well as achieving measurable sustainability targets within their own operations. And just a month before receiving this globally recognized award, Controlant announced a significant partnership with Siemens that will enable Controlant and Siemens to offer an integrated solution aimed at enterprises.

"Controlant is a recognized global leader in providing advanced supply chain visibility and comprehensive data in real-time. We are excited to leverage its IoT-enabled analytics in MindSphere," said Florian Beil, Head of Sales for MindSphere at Siemens Digital Industries Software.  "The combination of Siemens' industrial expertise with Controlant's experience in optimizing supply chains in the pharmaceutical and food and beverage industries can enable our joint customers to accelerate their digital transformations."

Life science companies, such as medical device companies, incorporated in Iceland benefit from low corporate tax and encouraging financial incentives for the clinical trial R&D and commercial applications. To learn more, please visit Invest in Iceland.

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Iceland focuses on a favorable business environment, including low corporate tax, availability of land and green energy at competitive prices and efficiency within European legislative framework. New direct investment projects can apply for an investment agreement, ensuring generous regional incentives, including a corporate tax rate ceiling of only 15%.

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Along with having one of the lowest corporate tax rate in Europe, Iceland has a highly educated workforce which is ranked among the highest in the world, offers competitively priced renewable energy with an advanced infrastructure making Iceland an ideal location for investors