Paxafe delivers autonomous AI-enabled decision support for quality, transportation, and logistics leaders in cold chain operations. Its SaaS platform, CONTXT, uses the ATHENA LLM to translate network information into proactive recommendations that reduce product loss and optimize operations. Led by CEO Ilya Preston, the company helps customers automate and optimize workflows and extract resiliency from existing visibility solutions. Paxafe intends to use the new funding to meet customer demand, accelerate product innovation, and expand global operations and partner ecosystems. The company is based in Indianapolis, IN. Financially, Paxafe has raised $9M in a Series A, bringing total capital raised to $14M. Paxafe operates CONTXT, an intelligence platform that leverages IoT sensors, telematics, third‑party, and ERP data to create interactive timelines and a full chain of custody for high‑value and perishable shipments. The platform tracks environmental parameters including temperature, humidity, pressure, tilt, shock, and light, and alerts parties when conditions indicate elevated risk of cargo damage. Paxafe enables interception of at‑risk shipments, automated claim diagnosis and root‑cause analysis, and aims to minimize future losses while improving operational efficiency. The company positions itself to predict adverse supply‑chain events to de‑risk B2B shipments and enable intelligent cargo insurance. Paxafe is venture‑backed and has attracted an investment from Greenlight Re Innovations; it plans to lean on Greenlight’s insurance expertise to bridge cargo insurance and the supply chain. Pafaxe is a Milwaukee-based AI and machine-learning startup that builds CONTXT, an intelligence platform leveraging telematics, third-party and ERP data to calculate and underwrite supply-chain risk. CONTXT enables shippers, 3PLs/carriers and insurance providers to intercept at-risk shipments, automate claim diagnosis and root-cause analysis, and minimize future losses. Led by co-founder and CEO Ilya Preston, the company launched a series of paid pilots across healthcare, perishables, oil & gas, logistics, manufacturing, jewelry and insurance verticals over the past six months. Pafaxe has launched the commercial version of its platform and converted a number of pilot customers to commercial partners. The company raised a $2.25M seed round and has brought total funding to over $3.2M to date. It intends to use the funds to accelerate rollout to more enterprise customers and to strengthen its AI-driven prediction models.

Total raised

$11M

Funding rounds

3

Latest round

Series A

Latest activity

May 2024