CANADA – Nulogy, the leading provider of supply chain collaboration solutions has received US$14.92 million in a mix of funding from Export Development Canada (EDC) and incremental working capital from a Tier 1 Canadian Bank.
The firm says it will use the funds for product innovations and to accelerate the growth of its multi-enterprise supply chain platform and solutions.
Nulogy’s solutions are used by fast-moving consumer goods (FMCG) and consumer packaged goods companies and their networks of contract manufacturing and contract packaging suppliers.
The firm’s cloud-based platform provides a set of solutions both for suppliers—including co-packers and contract manufacturers and for the brands and manufacturers who trust these suppliers to function as an integral part of their business operations.
The unique capabilities of the Nulogy solutions enable these companies to collaborate in near real-time to monitor and manage orders, respond to rapidly changing conditions, and cut costs, increasing the quality and efficiency of their supply chain operations.
According to a 2021 report from industry analyst firm Gartner, Nulogy is the only notable vendor for the contract manufacturing and contract packaging industry.
Jason Tham, CEO and co-founder of Nulogy said: “We are excited to partner with EDC to continue innovating new capabilities to better serve our customers, while accelerating the growth of our network of users.
“As a provider of multi-enterprise solutions, the larger the number of users of our network, the greater the value for all users—so we’re very excited about the value this brings to our community of customers.”
Commenting on the funding Guillermo Freire, Senior Vice-President, Mid-Market Group at EDCadded: “Nulogy has been focused on core supply chain solutions, propelling some of the world’s leading brands and their supplier networks in more than 20 countries.
“EDC is committed to helping Canadian mid-market companies like Nulogy realize their international growth potential.
“As a strategic partner, EDC can support Nulogy by leveraging our financial solutions, trade knowledge, and global networks, which will provide the company with even more momentum as they expand into new markets around the world.”
Early this year, the company launched Nulogy Connect. This addition is designed to help businesses bolster their service levels and speed-to-market by enabling seamless connectivity between their software solutions and that of their customers and suppliers.
Nulogy Connect leverages advanced low-code, no-code technology to make it simple, easy, and cost-effective for customers to connect with their trading partners, says the company.
The solution is also meant to automate and accelerate the delivery of operational data to ensure that both internal and external teams stay in sync and are making decisions based on accurate, timely data.
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