Axya, an AI-powered procurement platform for manufacturers, has secured $17 million CAD in Series A funding led by McRock Capital, with participation from Yamaha Motor Ventures and existing shareholders including the Business Development Bank of Canada’s Industrial Innovation Venture Fund and Real Ventures. The company has also established a new banking relationship with CIBC to finance its next phase of expansion.
Focused on aerospace and defence, custom machinery and vehicles, and natural resources, Axya counts MDA Space and GE Aerospace among its customers. Its platform connects supplier networks to ERP systems from Infor, Epicor, Oracle, SAP, Microsoft Dynamics and Sage without requiring suppliers to adopt a new portal, an approach the company says has delivered a 100% supplier adoption rate. AI handles data normalisation, early risk flagging and savings identification, while procurement teams retain control of strategic decisions.
Founder and CEO Félix Bélisle-Dockrill, a mechanical engineer who previously worked in aerospace supplier quality, said most supply chains still rely on outdated tools built for a slower era, and that procurement remains one of manufacturing’s most fragmented functions despite heavy digital transformation investment.
The funding will deepen Axya’s AI capabilities in risk detection, optimisation and automated workflows, grow its sales, customer success and engineering teams, and support North American and international expansion. Udit Bhatnagar, Partner at McRock Capital, said the firm sees an enormous opportunity for industrial AI in procurement, where critical decisions still depend on scattered information.
Featured image: Credit: Axya
