PLAIO funding news – PLAIO Raises €4.3 Million in an Oversubscribed Round Funding

The investment round was led by Kvika Asset Management's venture capital fund Iðunn, with backing from existing investors Frumtak Ventures (which supported Treble and Empower from Iceland) and Dr. Agon.

It will use the investment to expand in the US and Europe, improving its AI Coplanner and forming new industrial relationships.

Ásthildur Otharsdóttir, Partner at Frumtak Ventures, and Chairman of PLAIO said, “PLAIO’s innovative approach has already proven its value in the the northern European market, and our latest investment underscores our confidence in the platform and its ability to resonate on a global scale. PLAIO isn’t just meeting industry expectations – it’s redefining them, setting a new benchmark for how pharmaceutical companies should manage their supply chains and acting as a torchbearer for the next wave of pharma digitization.”

Iðunn's investment manager, Pétur Richter, and Dr. Agon's Andri Sveinsson will join PLAIO's board of directors in addition to the investment.

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Pétur Richter said, “PLAIO is standing at the forefront of a critical shift in the pharmaceutical industry, and I’m delighted to be joining the board at such a significant time for the company, leading the investment from Iðunn. “AI, while touted by the masses as the solution to many of the problems faced by the everyday worker, the pharmaceutical industry remains unprepared for this digital transition. PLAIO’s dedication to solving this issue aligns perfectly with our investment philosophy, and we are extremely excited to support the company’s mission.”

Andri Sveinsson, Partner at Dr. Agon added, “PLAIO’s vision for revolutionizing pharmaceutical supply chains through AI is exactly what the industry needs to stay competitive in a rapidly changing landscape. Not only is the product uniquely impressive, but the people behind it are too. There is an intrinsic ‘rock ‘n’ roll’ dynamic built into the company ethos. The team are innovative by their very nature, and my new position on the board of directors will enable me to support them as they scale globally, bringing much-needed change to pharma companies around the world.”

Johann Gudbjargarson, Founder and CEO of PLAIO stated: “We founded this company with a clear mission: to transform the outdated and inefficient methods that dominate pharmaceutical supply chain planning. With more than 25 years of experience in the industry, I have witnessed firsthand the intricate nuances and complications that pharma companies face every day. That is why we started this journey, and, as interest and adoption of AI continue to grow, we’re experiencing exponential growth and a remarkable level of newfound interest, with strong sales conversions. We have big dreams for the future of the company and this latest funding is just another indicator that we’re doing the right thing. We’re now more energised than ever to bring PLAIO’s transformative power to a global stage!”

About PLAIO

Pharma experts may ask data enquiries and simulate “what if” situations using PLAIO's AI Coplanner's natural language interface. The Coplanner speeds up scenario analysis and campaign execution by performing some of planners' most time-consuming activities.