Silicon Valley Supply chain company acquires Modum

Founded in 2016 and raised $13.5 million in total, Modum offers proven pharma-grade monitoring solutions focusing on pharma last mile-focused cold chain monitoring. The company’s ‘plug & play’ solutions work even in the most difficult logistics scenarios requiring high volume and minimal touch, such as last-mile delivery transactions. Its low unit cost of monitoring and adherence to all pharma quality compliance requirements enables companies like Swiss Post with last-mile delivery visibility.

Modum's solutions bring transparency and unmatched integrity of location and condition data by using methods such as two-factor authentication to associate wireless loggers with shipments and feed data into blockchain networks for authenticity.

By acquiring Modum, Roambee aims to expand its cold chain visibility offering from end to end, covering primary, secondary, and the last mile delivery use-cases. The acquisition will also firm up its leadership position for real-time cold chain monitoring solutions.

Roambee’s real-time supply chain visibility platform combines firsthand sensor inputs and non-sensor data to deliver shipments and assets on time, in full, and in top condition. More than 300 customers worldwide, including one of the largest US-headquartered COVID-19 vaccine-maker, leverage Roambee’s supply chain signals and intelligence to drive logistics automation.

Sanjay Sharma, CEO of Roambee said, "While most visibility service providers claim to deliver real-time visibility, they rely on carrier data. Insights will never be as granular, real-time, and accurate as sensor-driven insights, which is key to logistics automation. With Modum, Roambee will enable customers to automate their logistics through a radically simple access to sensor-driven signals, delivered by our immersive, location-aware platform - not only for pharma but also for fresh produce and food/beverages."

New roles for Modum's management
Key executives from Modum will take up leadership positions at Roambee bringing in Modum’s astute pharma domain knowledge and last-mile expertise into Roambee’s product strategy, enabling it to dominate the real-time cold chain visibility space.

Modum’s CEO Simon Dössegger said, “Joining forces with Roambee was natural for Modum due to our shared mission to ensure the timely availability of effective, original products in the medical supply chain. Modum will enhance Roambee’s cold chain footprint with a proven last mile visibility technology to extend the Roambee product proposition to a unique global end-to-end visibility solution. When combined with Roambee’s strong multimodal shipment monitoring capabilities, we can offer granular visibility all the way from manufacturing to a patient’s home at scale.”

(Press release/RAN)