PAXAFE

AI technology could help put cold chain on ‘autopilot,’ CEO says

Paxafe CEO and co-founder Ilya Preston said AI technology and accurate data can improve the global cold chain dramatically, helping reduce food waste and emissions.

“If you optimize the cold chain, you’re going to see a reduction in product loss. You’re going to see reductions in greenhouse gas emissions,” Preston said during the keynote discussion Wednesday at FreightWaves’ Net Zero Carbon Summit. “You need to understand the nuances and get really into the weeds on the data, on the loss rate,...

https://www.freightwaves.com/news/ai-technology-could-help-put-cold-chain-on-autopilot-ceo-says

Paxafe raises $9M, highlights 330% revenue growth over past year

Paxafe, an AI software provider for the cold chain market, announced Tuesday it has closed on a $9 million Series A funding round led by Framework Venture Partners with participation from Microsoft venture capital fund M12, Rosecliff Ventures, Elevate Ventures, AngelList Quant Fund, Gaingels and Mama Ventures.

This round also included previous investors Ubiquity Ventures and Venture 53, which led Paxafe’s seed round in 2022. The company has raised $14 million since founding in 2018.

Paxafe plans...

https://www.freightwaves.com/news/paxafe-raises-9m-highlights-330-revenue-growth-over-past-year

Paxafe partners with Carrier to improve Lynx offering

Through a new partnership, risk management software provider Paxafe is leveraging its artificial intelligence-driven prediction modeling to enhance cold chain solutions provider Carrier’s platform offerings. 

“Through this collaboration with Paxafe, we are adding capabilities to our powerful Lynx platform to provide our customers greater visibility and intelligence, and enable proactive decision-making across their cold chain operations,” said Alice DeBiasio, vice president and general manager...

https://www.freightwaves.com/news/paxafe-partners-with-carrier-to-improve-lynx-offering

Risk management platform Paxafe closes investment with strategic industry insiders

Visibility and risk management platform Paxafe announced it has closed on an additional $1.5 million in capital  led by early-stage fund Venture 53 with participation from Value Chain Ventures, project44 founder and CEO Jett McCandless and Peter Rentschler, CEO of supply chain business consulting and software development firm Metafora, formerly known as CarrierDirect. 

This comes after recently raising its seed round in 2021, led by Ubiquity Ventures and participation from Greenlight...

https://www.freightwaves.com/news/risk-management-platform-paxafe-closes-investment-with-strategic-industry-insiders

Jewelry industry placing high value on automating cargo insurance (with video)

Jewelers Mutual Group has a vested interest in ensuring that high-value items get from point A to B in a supply chain in which there is between $2 billion and $8 billion worth of cargo in transit at any one time.

“In fact it’s so important for us to understand where everything is at that we acquired our own shipping company a couple of years back,” said Benjamin DeBoer, the company’s director of corporate innovation, speaking Friday as part of a supply chain visibility panel during FreightWaves...

https://www.freightwaves.com/news/jewelry-industry-placing-high-value-on-automating-cargo-insurance-with-video