Pax, a San Francisco, CA-based company which specializes in AI-powered duty drawback, raised $4.5M in Seed funding.
The round was led by Initialized Capital, alongside Sancus, Basis Set, Soma Capital, General Catalyst, Transpose, ZVC1, and Flexport angels.
The company intends to use the funds to to scale its team, enhance its platform and expand operations.
Led by CEO Penny Chen, Pax provides AI-powered duty drawback solutions. By partnering with brokers and tech providers, they streamline drawback processes for seamless collaboration. The proprietary AI-powered refund maximization algorithm serves companies of all sizes, helping them identify the maximum recoverable duties, ensuring they reclaim every dollar and accelerate payments.
FinSEMs
09/04/2025