Icelandic software startup Plaio announced a $2.25M pre-series A investment round by Frumtak Ventures. The company digitises demand, manufacturing, and purchase planning for generic pharmaceutical manufacturers, for agile manufacturing operations and precision product output.
Founded by Jóhann Guðbjargarson in May, Plaio builds on years-long R&D process focused on the specific needs of generic pharmaceutical manufacturers. The company has an experienced Pharma Supply Chain founding team and customers like MS Pharma and Coripharma, which has been validating the software for over two years.
“Plaio provides the accuracy, predictability, transparency and precision forecasting missing from the current demand, manufacturing and purchase planning processes, which, until now, were shockingly manual and spreadsheet-driven, and marred by inefficiencies and human error,” says Jóhann Guðbjargarson, PLAIO’s Founder and CEO.
“Plaio’s deep knowledge of Pharma Supply Chain and the cost sensitivities within the generic pharma industry will be invaluable to the digitisation and modernisation of the pharmaceutical industry,” says Svana Gunnarsdóttir, Managing Director of Frumtak Ventures. “The team’s early success in providing much needed planning visibility and transparency to pharma manufacturers has the potential to help ensure the right products get to the right places at the right time in the most cost efficient and sustainable ways possible.”