Montreal-based Axya, an outsourcing platform that connects local manufacturing networks in Canada and the US, has raised C$1.5 million in a seed-stage financing. The round was led by Ecofuel Fund and Desjardins Capital, with participation from Real Ventures.
MONTREAL, April 27, 2021 /CNW Telbec/ – This seed round, co-led by Ecofuel and Desjardins capital with the participation of Real Ventures, will help the company expand its reach to Ontario and the Northeastern US. Previously known as GRAD4, Axya now aims to expand its platform’s capabilities and grow their brand as they enter these new North American markets.
“In its near 2 years as a platform, Axya’s goal has always been to help expand companies’ manufacturing potentials and find efficiency through local production,” says Félix Bélisle-Dockrill, CEO and Co-founder, Axya. “This past year has truly shown us the vulnerabilities of global production, and Axya aims to streamline the local outsourcing process while reducing the complexities involved with supply chain management.”
To help companies manage their supply chains, Axya’s multifaceted platform allows manufacturing buyers to communicate with their suppliers through unique features such as a marketplace for parts, a built-in messenger system and a CAD viewer for the contracting of custom parts. The platform has fostered manufacturer relationships for established Canadian companies such as Vention, BRP and CAE.
“Prior to Axya, the task of managing our supply chain and keeping track of our numerous suppliers from around the world was daunting. We couldn’t help but wonder whether we could find a tool that allows us to simplify this process,” says Mathieu Provencher, COO & CFO at Vention. “Axya’s platform has allowed our company to manage our supplier relations effectively and even build new relationships with their valuable local network of suppliers here in Quebec.”
The $1.5M enables Axya to reach even more companies in the Ontario market and prepare for its expansion into the US in a couple of months. The new funding will also allow the Axya team to focus on developing new features for the interface in order to further reduce the barriers associated with working with new, local suppliers.
“For the Ecofuel Fund, Axya’s transactional platform is: an impressive team, unparalleled customer service, and above all, a cutting-edge product that meets the needs of the industry, easy to use by buyers and suppliers and that promotes local manufacturing.” underlines Richard Cloutier, managing partner at Ecofuel Fund. “These are all the ingredients sought by the Ecofuel Fund and its partners to achieve success here and internationally.”
Axya is a comprehensive outsourcing platform that helps companies to source their custom and non-recurring metalworking parts 10 times faster than with conventional methods. Axya’s marketplace also allows buyers to discover new suppliers and instantly work with them on custom contracts.
To learn more about the Ecofuel Fund, visit their website at: www.fondsecofuel.ca