Axya closes $17-million Series A to modernize manufacturing procurement

Montréal-based supply chain software startup Axya has secured $17 million CAD in equity and debt Series A funding to automate procurement for manufacturers with the help of AI. 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’s McRock Capital, with support from Yamaha Motor Ventures and existing backers like the Business Development Bank of Canada’s Industrial Innovation Venture Fund an