Axya raises $12M Series A

The round split into C$12M in primary equity and C$5M in venture debt from CIBC Innovation Banking. McRock Capital of Toronto led the equity portion, with Yamaha Motor Ventures joining existing backers BDC's Industrial Innovation Venture Fund and Real Ventures. The CEO declined to share the valuation but called it a meaningful up round, and said total funding now stands at C$22.4M. The company plans to grow its team from 40 to 55 by the end of 2026 and build its presence outside Canada. The Montreal company, founded in 2019, sells procurement software to manufacturers in aerospace and defence, custom machinery and vehicles, and natural resources. It connects supplier networks to ERP data from Infor, Epicor, Oracle, SAP, Microsoft Dynamics and Sage. Named customers include MDA Space and GE Aerospace. The company claims 100% supplier adoption, a figure it reports itself, and the claim rests on letting suppliers keep working through their existing file formats and channels instead of a new portal. For founders building vertical AI, the round shows a path built on integration depth and a narrow industrial niche. The CEO pointed to retention, yearly customer expansion, healthy margins and near break-even operations as the basis for raising. Strategic backers such as Yamaha, plus venture debt, can stretch equity further for companies with that profile.