Nulogy, the leading provider of supply chain collaboration solutions, today announced the company has received $20 million CAD (approx. $15 M USD) in a mix of funding from Export Development Canada (EDC) and incremental working capital from a Tier 1 Canadian Bank. The funds will be used for product innovations and to accelerate the growth of Nulogy’s 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 funding from EDC was completed in the first quarter of 2023.
Nulogy’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, to respond to rapidly changing conditions, and to 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.
“We’re excited to partner with EDC to continue innovating new capabilities to better serve our customers, while accelerating the growth of our network of users,” said Jason Tham, CEO and co-founder of Nulogy. “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.”
“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,” said Guillermo Freire, Senior Vice-President, Mid-Market Group at EDC. “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.”Source: PR Newswire