This Business News Story Was Uncovered By Us From: https://www.under30ceo.com/manufacturing-procurement-software-axya-17m/
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Manufacturers still run purchasing on spreadsheets and email chains more often than most founders would guess, and a Montreal startup just raised money to change that. Axya locked in $17 million CAD in Series A funding on September 24, with McRock Capital leading the round and Yamaha Motor Ventures joining as a co-investor.
Procurement sounds boring until you have run a manufacturing business and watched a single missed supplier email delay a shipment by weeks. This round is a signal that AI-driven back office tools are moving well past software and marketing teams and into the industrial floor, where the margins for error, and for cost savings, are much bigger.
The Round, Fast
Axya builds AI powered procurement software that automates sourcing and purchasing for manufacturers. The company is based in Montreal and works with clients including MDA Space and GE Aerospace, and it concentrates on three industrial niches: aerospace and defense work, custom machinery and vehicle builders, and natural resources and processing operations.
Axya’s Series A at a glance
Detail
Figure
Round size
$17 million CAD
Lead investor
McRock Capital
Co-investor
Yamaha Motor Ventures
Sectors served
Aerospace, defense, custom machinery, natural resources
ERP integrations
SAP, Oracle, Microsoft Dynamics, Infor, Epicor, and Sage
Real Ventures returned for this round too, alongside the Industrial Innovation Venture Fund, the venture arm of the Business Development Bank of Canada, both previous backers of the company. CIBC also came on as a new banking partner, which points to steady momentum rather than a one time splash. Lead investor McRock Capital focuses specifically on industrial technology, which explains why an aerospace-heavy client list appealed to the firm.
Why Procurement Is the Problem Worth Solving
Félix Bélisle-Dockrill, who founded and now runs Axya as CEO, spent years in supplier quality roles inside major aerospace manufac… Read More
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