PAXAFE, an Indianapolis, IN-based company specializing in AI-powered decision support for cold chain logistics, has raised $9 million in Series A funding, bringing its total funding to $14 million.
Investors
The round was led by Framework Venture Partners, with new participation from M12 (Microsoft's Venture Fund), Rosecliff Ventures, Elevate Ventures, AngelList Quant Fund, Gaingels, Mana Ventures, as well as existing participants Ubiquity Ventures and Venture53.
Established in 2018, Framework Venture Partners is a venture capital firm based in Toronto, Canada. The firm primarily invests in Series A and Series B technology companies that have a strong purpose and mission to change the world for the better.
PAXAFE Use of Funds
The company will use the funds to meet increasing customer demand, fuel product innovation and expand global operations and key partner ecosystems.
About PAXAFE
PAXAFE delivers autonomous AI-enabled decision support for quality, transportation, and logistics leaders, helping them extract maximum value and resiliency from their existing visibility solutions. Its SaaS platform, CONTXT, harnesses the power of ATHENA LLM to translate network information into proactive recommendations that reduce product loss and optimize operations. PAXAFE empowers customers to automate, optimize, and confidently ensure the best outcomes in cold chain logistics.
Funding Details
Company: PAXAFE, Inc.
Raised: $9.0M
Round: Series A
Funding Month: May 2024
Lead Investors: Framework Venture Partners
Additional Investors: M12, Rosecliff Ventures, Elevate Ventures, AngelList Quant Fund, Gaingels, Mana Ventures, Ubiquity Ventures, Venture53
Company Website: https://www.paxafe.com/
Software Category: Cold Chain Logistics
Source: https://www.prnewswire.com/news-releases/paxafe-raises-9m-series-a-to-transform-ai-powered-autonomous-cold-chain-logistics-302137405.html