Axiom Cloud Raises $7.4M Series A to Transform Commercial Refrigeration using AI
/Axiom provides software-enabled services to major grocery chains and cold storage companies in hundreds of facilities across North America.
SAN JOSE, Calif., Jan. 18, 2023 /PRNewswire/ -- Axiom Cloud today announced its $7.4M Series A financing led by Blue Bear Capital. Following large-scale rollouts with major North American grocery chains and cold storage warehouse operators, Axiom raised its Series A to prepare for its next phase of growth. Axiom will use the funding to scale its software, operations, and sales teams to meet accelerating market demand for its refrigeration software. In total, Axiom Cloud has raised approximately $11.6M since its inception in 2020.
"We have followed Axiom Cloud's management for years and seen their refrigeration AI technology make an outsized impact, substantially lowering power use and refrigerant leaks, improving margins, and turning everyday cooling infrastructure into virtual batteries," said Ernst Sack, Partner at Blue Bear Capital and Board Director of Axiom Cloud. "2023 looks bright for companies like Axiom that can help staple retailers and supply chain companies lower cost, improve uptime, withstand labor shortages, and reduce their environmental footprint – all with an incredible ROI in the first year."