Axion Ray, a NYC-based provider of an AI-powered observability command center, raised $12.5M in Series A funding.
The round, which brought the total amount to $25M, was led by Bessemer Venture Partners including strategic investment from RTX Ventures. Existing investors, Amplo and Inspired Capital also participated.
The company intends to use the funds to further expand its AI capabilities within technical issue detection and scale its go-to-market effort to new industries.
Led by CEO and Founder Daniel First, Axion Ray is an AI observability command center used by global manufacturing companies to detect and solve emerging quality issues affecting customers at the earliest warning signals. Its customer base includes Fortune 500 manufacturers, such as Baxter, Cummins, Newell, Boeing, Pratt & Whitney, DENSO, and other manufacturers across electronics, automotive, medical devices and consumer products.
Commenting on the news, Daniel First said: “Axion Ray puts AI directly into the hands of field engineers to detect, investigate, and resolve these issues. This financing will allow us to scale our business and empower enterprises to solve their most important business problems, by enabling better cross-functional investigation accelerated with Al.”
FinSMEs
12/03/2024