PLAIO, an Icelandic AI planning platform for the pharmaceutical industry, has secured €4.3 million in funding to expand its global operations and enhance its innovative sales and operations planning solution.

Information on the Target

PLAIO, the world's first AI-powered planning platform tailored for the pharmaceutical industry, was co-founded by experienced professionals and academics with over 25 years in the pharma supply chain sector. With its website at www.plaio.com, the company has successfully raised €4.3 million in an oversubscribed funding round, following a pre-Series A investment of €2.7 million in 2021 and an additional €400,000 from the Icelandic Technical Development Fund in 2023. The funds will enable PLAIO to expand its operations within the U.S. and European markets.

Established to address significant gaps in traditional supply chain planning, PLAIO's innovative platform features an AI Coplanner that integrates various tasks associated with sales and operations planning (S&OP). This tool aims to enhance efficiency, facilitating scenario analysis and streamlining the execution of manufacturing orders while reducing the time-consuming processes that planners typically encounter.

Industry Overview in Iceland

The pharmaceutical industry in Iceland is known for its compactness and resilience, with a robust presence that stands out in the global market. Despite the acknowledged transition toward Pharma 4.0—which promotes the adoption of digital