Axya raises C$17 million Series A for procurement software for manufacturers

Axya raises C$17 million Series A for procurement software for manufacturers

24 September 2026: Axya, a software company based in Montreal, Quebec, Canada, has announced a Series A round of C$17 million, according to a letter on its own website. BetaKit reported the round on 24 September 2026.

The round

• Amount and stage: C$17 million, Series A, as stated by the company.
• Lead investor: McRock Capital.
• Other investors named: Yamaha Motor Ventures; existing investors BDC's Industrial Innovation Venture Fund and Real Ventures. The company also announced a new banking relationship with CIBC.
• Use of the money: the chief executive's letter frames it around capturing a manufacturer's full purchasing history and turning it into savings analysis; no itemised split is given.

What the company does

Axya makes source-to-pay software for manufacturers: requests for quotation to suppliers, comparison of quotes, purchase orders, order tracking and supplier management. It connects to the enterprise resource planning (ERP) systems manufacturers already use, naming integrations with Infor, Epicor, SAP and Sage X3, among others.

Why it matters for buyers

Many small and mid-sized manufacturers still run purchasing of machined parts and components through email and spreadsheets, which makes it hard to compare suppliers or see spending patterns. Software built for manufacturing purchasing, rather than general office procurement, handles drawings, technical specifications and quote comparison for custom parts.

What to check

• Procurement and operations leads should confirm the integration with their exact ERP version and which data flows in each direction.
• Supplier relationships: check whether suppliers must create accounts or can respond by email, since adoption on the supplier side decides whether the tool is used.
• Finance should ask how savings are measured in the analytics, and against what baseline.

Update, 16 October 2026: BetaKit reported the round on 24 September 2026 and gives its make-up: C$12 million of equity led by McRock Capital, with Yamaha Motor Ventures, BDC's Industrial Innovation Venture Fund and Real Ventures taking part, and C$5 million of venture debt from CIBC Innovation Banking.

Sources

• Axya: Series A announcement - 28 September 2026
• BetaKit: Axya closes $17 million Series A to modernize manufacturing procurement - 24 September 2026
• BetaKit: Axya closes $17-million Series A to modernize manufacturing procurement - 24 September 2026