Newday invests a significant amount in TotalCtrl so that the company can realize its growth ambition both nationally and internationally
In 2020, Ferd bought 75% of the technology company Infotjenester/Simployer, and with a solid profit from the sale and experience from building and scaling software, Trond Stensrud and Bjørn Petter Garder established the investment company Newday. The intention is to reinvest part of the capital from the sell to Ferd in Norwegian growth companies. Their first major venture is now in place.
Through a significant investment in the FoodTech company TotalCtrl (an Oslo Founder Institute portfolio company), Newday has great faith in strong growth and market opportunities within what we call "Farm to Fork". TotalCtrl has solutions that can easily improve efficiency, reduce food waste and increase profitability in various parts of the value chain from "farmer to consumer".
"We have followed the company for a long period, and are happy that we have reached an agreement on capital injection and active ownership in TotalCtrl. We want to apply our operational experience from leading and driving commercial success by taking an active part in creating and shaping new opportunities in exciting companies that have international potential. Through the investment in TotalCtrl, we will together contribute to something as important as reducing food waste and contribute to a better and more transparent food supply chain both in Norway and internationally," says managing director Trond Stensrud in Newday.
"Today is a big day for us at TotalCtrl. The fact that Newday, through a comprehensive process, has chosen to invest significant amounts and not least to contribute important experience, expertise and passion - means that we can now take the company to a new level. Newday's investment means that TotalCtrl now has the muscle to grow,” says CEO Charlotte Aschim of TotalCtrl.
In a market where covid, war and climate change have affected access to capital for growth companies, TotalCtrl has experienced the opposite. Interest in joining the capitalization round has been great from both new and existing investors. The result was that the company ended up turning down several national and international investors. In addition to the capital injection from Newday, existing investors have also invested, including Loyal.VC, a recognized VC company headquartered in Canada which has been an investor and important contributor from TotalCtrl's early days.
TotalCtrl has within a short time become a recognized name within the FoodTech and sustainability space. With a total of 43 awards and recognitions under its belt, and as a certified B corp, the company maintains the highest standards in social and environmental impact globally. Joining the team are well-known companies such as SAP, Atea, Millum, Lightspeed, Avery Dennison and others. On the customer side, we work closely with, among others, Halden municipality, Nordic Choice and Bergstadens hotel - which can show good results in food waste reduction and improved profitability.
In addition to investment from Newday, TotalCtrl has also secured EU funding of NOK 7.5 million, which will go towards further development of the technology.
For further information, contact:
- Charlotte Aschim – CEO of TotalCtrl
- Trond Stensrud – Managing Director of Newday
TotalCtrl is a leading FoodTech company that improves customer profitability and the industry's sustainability by offering TotalCtrl from farm to fork. TotalCtrl, a Norwegian software company, utilizes its unrivaled Inventory Management System to unlock enormous opportunities in the food industry, ensuring food traceability, control over distribution, elimination of food waste and optimized operations. TotalCtrl helps the food industry optimize the planning, purchasing and use of food inventory by providing data-driven insights and decision support to make fact-based and sustainable choices.
Read more about TotalCtrl here: TotalCtrl
Newday is an active growth investor whose greatest strength lies in expertise and experience from strategic and operational work with business development. Newday invests in small/medium-sized companies with growth potential, where the purpose is to add capital, experience, networks and expertise so that the companies can exploit their growth potential. Newday is owned 80% by Colligo AS and 20% by Chrima AS, which through Newday reinvests part of the profit from the sale of shares in Infotjenester/Simployer to Ferd in 2020. Colligo currently manages approx. 1.5 billion, of which Newday is one of five focus areas.
Read more about Newday here: Newday AS
Graduates of the Founder Institute are creating some of the world's fastest growing startups, having raised over $1.75BN in funding, and building products people love across over 200 cities worldwide.
See the most recent news from our Grads at FI.co/news, or learn more about their stories at FI.co/graduates.