Montreal-based outsourcing platform Axya will collect $1.5 million in funding in a round co-led by Ecofuel and Desjardins capital, with the participation of Real Ventures. Connector
The tech company helps other companies source their custom and non-recurring metalworking parts. They say the platform speeds that process up by 10 times over conventional methods. It was founded in 2019 by manufacturing industry veterans who believed there was a better way for companies to handle the subcontracting process.
The cash will help Axya expand its platform capabilities as well as expand its reach to Ontario and the Northeastern US. Axya was previously known as GRAD4.
“Axya’s goal has always been to help expand companies’ manufacturing potentials and find efficiency through local production,” said CEO Félix Bélisle-Dockrill. “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.”
Overall, Axya promises that clients can access better prices and shorter delays, become more efficient and centralize everything in one place, by using its platform.
Here’s how the company describes its process for clients:
“In just minutes, businesses can create and upload a request for quote (RFQ) to the site for free. That RFQ is then seen by hundreds of suppliers – all of whom have been vetted by Axya – on the platform. Suppliers include several domestic metal manufacturers that leverage cutting-edge technologies, such as Computer numerical control (CNC) machines, to produce precision custom metal parts at competitive prices.
“Buyers receive bids and can message suppliers through the platform if they have questions. Then they close the contract directly on the site. The process typically takes 90% less time than the old, outdated way of outsourcing, and buyers save 20%, on average thanks to the competitive bid environment.
“All of this makes it possible for Canadian companies to bring part of their supply chain back home, which not only means spending less time and money on transportation, but also sidesteps seasonal delays due to international holidays and protects against unforeseen supply chain issues.”
Axya has already sealed manufacturer relationships with companies like Vention, BRP and CAE. On its website, it also names Siemens among its “trusted by” companies.
Vention is a unique Montreal-based company that allows customers to design and order custom industrial equipment online in days.
It’s CFO, Mathieu Provencher, said Axya greatly helped in Ventions challenges in dealing with numerous suppliers around the world.
“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.”