The round consisted of $12 million in equity primary capital and $5 million in venture debt from CIBC Innovation Banking. The equity portion was led by Toronto\u2019s McRock Capital, with support from Yamaha Motor Ventures and existing backers like the Business Development Bank of Canada\u2019s Industrial Innovation Venture Fund and Montr\u00e9al\u2019s Real Ventures.<\/p>\n
\u201cManufacturers building complex products lose time and money because procurement still runs on email, spreadsheets, and ERPs that don\u2019t talk to suppliers.\u201d<\/p>\n
F\u00e9lix B\u00e9lisle-Dockrill, Axya<\/p>\n
Axya plans to use this capital to expand its platform, grow its 40-person team to 55 by the end of 2026, and deepen its presence outside of Canada.\u201cThis round is about scale,\u201d Axya co-founder and CEO F\u00e9lix B\u00e9lisle-Dockrill told BetaKit over email.\u00a0\u00a0<\/p>\n
B\u00e9lisle-Dockrill said the company is deepening its AI capabilities for risk detection, optimization, and automated workflows, while growing its sales, customer success, and engineering teams. It\u2019s also building a stronger US presence while expanding its enterprise resource planning (ERP) partnerships.<\/p>\n
He said Axya raised money on \u201cfundamentals, not hype,\u201d including \u201cstrong retention, customers who expand every year, healthy margins, and a business operating close to break-even.\u201d He noted that McRock and Yamaha deeply understand the industrial customers it serves. He did not share Axya\u2019s Series A valuation, but claimed it was \u201ca meaningful up round\u201d that brings the company\u2019s total funding to $22.4 million.<\/p>\n
Axya was founded in 2019 by B\u00e9lisle-Dockrill, who has a background in mechanical engineering and previously worked in supplier quality for two major aerospace manufacturers. The company (formerly GRAD4) has developed an AI-powered procurement platform for large manufacturing firms. Axya\u2019s offering integrates with manufacturers\u2019 existing enterprise resource planning software and permits suppliers to connect via their existing channels.<\/p>\n
\u201cManufacturers building complex products lose time and money because procurement still runs on email, spreadsheets, and ERPs that don\u2019t talk to suppliers,\u201d B\u00e9lisle-Dockrill said. \u201cAxya plugs into the ERP they already use and applies AI to purchase orders, quotes, and supplier communication, so the same team can do more and production stays on schedule.\u201d<\/p>\n Axya caters to GE Aerospace, MDA Space, and other enterprise and mid-market manufacturing customers. The company also boasts more than 80,000 suppliers in its network.<\/p>\n B\u00e9lisle-Dockrill claimed the startup\u2019s annual recurring revenue (ARR) is in the \u201cmulti-million-dollar\u201d range, noting it currently manages hundreds of millions of dollars monthly through its platform.<\/p>\n Axya\u2019s Series A round comes more than four years after the company closed $5.4 million in seed funding across a $1.5-million<\/a> initial round and $3.9-million extension.<\/p>\n McRock partner Udit Bhatnagar, who is joining Axya\u2019s board as part of the round, said in a statement that the venture capital firm sees \u201can enormous market opportunity for industrial AI in the everyday work that keeps factories running,\u201d and singled out manufacturing procurement as an area \u201cwhere critical decisions still depend on scattered information.\u201d<\/p>\n RELATED: Axya raises $3.9 million in seed extension to scale deployment of supply chain software<\/a><\/p>\n Bhatnagar told BetaKit over email that McRock was attracted to the Axya team\u2019s understanding of the tech and this problem, and the progress it has made over the past year.<\/p>\n \u201cAxya has really hit its stride over the past 12 months on two fronts,\u201d Bhatnagar said. \u201cFirst, AI has become central to what the product can do \u2026 second, that product progress is showing up commercially.\u201d\u00a0<\/p>\n He noted that Axya has grown capital efficiently, doubling its ARR year-over-year while posting net revenue retention near 140 percent. \u201cThat combination is what caught our attention,\u201d he said.<\/p>\n Feature image courtesy Unsplash<\/a>. Photo by Simon Kadula<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"McRock, Yamaha, CIBC back Axya\u2019s plan to help manufacturers automate sourcing and purchasing.
Montr\u00e9al-based supply chain software…\n","protected":false},"author":2,"featured_media":630471,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[345,285083,27174,114,91214,293,285084,1756,85,285087,46,4319,285085,1757,1312,251,285088,1758,7130,285086],"class_list":["post-630470","post","type-post","status-publish","format-standard","has-post-thumbnail","category-entrepreneurship","tag-ai","tag-axya","tag-bdc","tag-business","tag-cibc","tag-entrepreneurship","tag-felix-belisle-dockrill","tag-funding","tag-il","tag-industrial-innovation-venture-fund","tag-israel","tag-manufacturing","tag-mcrock-capital","tag-montreal","tag-procurement","tag-quebec","tag-real-ventures","tag-saas","tag-software","tag-yamaha-motor-ventures"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/630470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=630470"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/630470\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/630471"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=630470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=630470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=630470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"A](\"https:\/\/www.newsbeep.com\/il\/wp-content\/uploads\/2026\/09\/Axya-Felix-Headshot-300x300.webp\" "\\"F\u00e9lix")
<\/a>F\u00e9lix B\u00e9lisle-Dockrill. Image
courtesy Axya.<\/p>\n