PAXAFE, specializing in AI-powered decision support for cold chain logistics, has raised $9M in a Series A funding round. This round was led by Framework Venture Partners and included new investors such as M12 (Microsoft’s Venture Fund) and Rosecliff Ventures, among others.
With previous backers like Ubiquity Ventures and Venture53 also participating, PAXAFE’s total funding now reaches $14M. This capital infusion will support increasing customer demand, product innovation, and expansion of global operations and partnerships.
Here’s what those involved in the funding round had to say:
“We are on a mission to quantify strategic and operational cold chain risk through AI-powered automation.
For the past decade, we’ve witnessed the industry adopt IoT sensors as a means for addressing mission-critical issues such as on-time, in-full (OTIF) product deliveries. Yet, real-time sensor data is limited without contextual analysis and prescriptive, recommended action. On behalf of the entire PAXAFE team, we’d like to thank our investors for their continued support as we expand our footprint, enhance our platform and build partnerships that reshape the industry.”
— Ilya Preston, co-founder and CEO, PAXAFE
“In an industry saturated with companies claiming GPT capabilities, PAXAFE is the one true AI-powered risk provider in cold chain logistics.
Knowing exact arrival times and being able to act before disaster strikes are key for supply chain resiliency. PAXAFE enables real-time visibility, a must-have for any enterprise moving goods that require climate and oscillation control.”
— Peter Misek, Managing Partner, Framework Venture Partners
“As an investor at M12, I’m delighted to be part of PAXAFE’s Series A funding round. The team at PAXAFE has shown remarkable innovation in visibility and risk management, and their platform is poised to transform the industry via applied uses of AI that deliver measurable ROI for customers.
This investment is not just about financial opportunity, but about being a partner to PAXAFE on a journey that could reshape the way we understand and manage supply chain risks.”
— Peter Berg, Managing Partner, M12
