GRAD4 changes name to Axya, raises $1.5M seed round to connect local manufacturing networks
by CM Staff
Axya’s platform allows manufacturing buyers to communicate with their suppliers through features such as a marketplace for parts, a built-in messenger system and a CAD viewer.
MONTREAL — The Montreal-based Axya outsourcing platform has recently raised a $1.5M seed round to help the company expand its reach to Ontario and the Northeastern US. The seed round was co-led by Ecofuel and Desjardins capital with the participation of Real Ventures. This funding coincides with the platform’s operations under its brand new name. 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 platform allows manufacturing buyers to communicate with their suppliers through 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.
The $1.5M enables Axya to reach even more companies in the Ontario market and prepare for its expansion into the US. 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.