Axiom Cloud
Canvas Category Software : Information Technology : Sustainability
Grocery and cold storage software to reduce energy and maintenance costs, service calls, and refrigerant leak rates. At Axiom Cloud, our mission is to use software and automation to transform how the world’s cooling systems are powered, operated, and maintained, in order to generate significant climate and financial impact.We provide value to our customers and make cooling systems more sustainable in the following ways: By predicting equipment issues and making cooling systems more efficient, we lower maintenance costs and reduce the energy required to achieve the same amount of cooling. By adding power flexibility and energy storage to cooling systems, we generate revenue for our customers and enable higher penetrations of intermittent renewables (solar, wind, etc.) onto the grid. By identifying and curtailing refrigerant leaks early, we help reduce the amount of high-GWP refrigerants released into the atmosphere. Axiom’s team of refrigeration experts, data scientists, energy nerds, and software developers solves retail grocery’s biggest energy and maintenance challenges by layering intelligence onto their existing refrigeration systems. Experience with commercial refrigeration systems is at our core, and we plan to leverage this experience across multiple industry categories to make the world’s cooling systems more sustainable.
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Axiom Cloud Closes $5 Million in Funding to Accelerate Deployment of Refrigerant Leak Detection Software
Axiom Cloud, announced that it closed $5 million in funding from Toshiba Tec and Windsail Capital Group. This funding aims to accelerate the deployment of the company’s AI-powered “Early Leak Detection” (ELD) module, which detects refrigerant leaks earlier without requiring any new onsite hardware or sensors. Axiom Cloud’s technology and services will be especially vital as facilities move to comply with recently-announced EPA regulations outlined in the American Innovation and Manufacturing (AIM) Act, which restrict commercial emissions of Hydrofluorocarbons (HFCs) through refrigerant leaks and other sources.
Subsection (h) of the AIM act, “Management of Regulated Substances,” announced in October 2023, mandates that the approximately 20,000 U.S. facilities must install Automatic Leak Detection (ALD) systems in commercial refrigeration appliances within 12 months after the final rule goes into effect. The AIM act has been called “the single-most effective climate action taken in the US” in part because it aims to cut HFC production and consumption by 85% over the next 15 years.
Axiom Cloud Raises $7.4M Series A to Transform Commercial Refrigeration using AI
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.
Axiom Cloud Raises $7.4M Series A to Transform Commercial Refrigeration using AI
Axiom Cloud 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.
Axiom Cloud’s approach combines real-world refrigeration experience with expertise in cloud analytics, thermophysical modeling, AI, and automation. Currently, its subscription-based services can be deployed to 100+ sites per week, and customers achieve positive cash flow in the first year. Axiom has also helped its customers leverage utility incentives and benefit from demand response programs in multiple states.