Toronto, Canada-based leading provider of supply chain collaboration solutions, Nulogy raised CAD 20 million (nearly USD 15 million) in recent financing. The round took place on March 30, 2023. Export Development Canada (EDC) joined in as the investor. Meanwhile, the company received incremental working capital from a Tier 1 Canadian Bank.
Purpose of financing for Nulogy
With the latest financing from investors, Nulogy has plans to focus on product innovations.
It also seeks to accelerate the growth of its multi-enterprise supply chain platform. It further seeks to expand its solutions. In the first quarter of 2023, the company received financing from EDC.
What the company’s official has to say
Jason Tham, CEO and co-founder of Nulogy, said, “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. 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.”
What the investor has to add
Guillermo Freire, Senior Vice-President Mid-Market Group at EDC, further added, “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.”
About the company
In 2002, Founders Dr K. Donald Tham, Jason Tham, Jason Yuen and Kevin Wong launched the company. Nulogy is a Canadian company operating as a provider of supply chain collaboration solutions. It provides solutions to CPG companies and their networks of contract packagers and manufacturers.
The company enables customers and their supplier communities to collaborate on a multi-enterprise platform. It seeks to deliver excellence with respect to an ever-changing consumer market. The Nulogy platform optimizes upstream supply ecosystems composed of brands, contract manufacturers and packagers, third-party logistics providers, and raw material and packaging suppliers. It envisions accelerating supply chain responsiveness and collaborate at the speed of today’s market.
Nulogy enables its user to collaborate in near real-time to monitor and manage orders. It further aids them in responding to rapidly changing conditions, and cutting costs, increasing the quality and efficiency of their supply chain operations.
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