Axion, a New York-based AI manufacturing company, has raised $37 million in Series B funding led by Salesforce Ventures, with participation from Bessemer Venture Partners, Schneider Electric Ventures and other investors.
In a statement released Monday, Axion said the funding will be used to further develop its AI platform, which combines domain-specific AI with “human-in-the-loop workflows” to help manufacturers identify and resolve product issues earlier in the lifecycle.
Axion’s technology enables manufacturers across multiple industries to proactively detect warning signs of emerging problems that could affect customers. By addressing these issues more quickly, companies can reduce warranty costs and improve overall product quality.
“Axion gives manufacturers the power to detect and solve customer issues faster than ever before. We’re giving manufacturers the clarity and confidence to build world-class products. By helping companies like Medtronic and Daikin understand their customers’ top issues, their teams can bring to market the next generation of products that customers love,” Daniel First, CEO of Axion, said in a statement.
