Salesforce Ventures Leads Axion’s $37 Million Series B

Axion enters the $2.5 million Salesforce Ventures-led Series B financing to expand the Manufacturing Quality Intelligence anchored on AI to global manufacturing processes.

Axion, a US-based startup focused on quality intelligence using AI, raised $37 million during a Series B financing round driven by Salesforce. It is another strategic move by Salesforce to enhance its presence in enterprise and industrial technology ecosystems through its investment.

Schneider Electric Ventures and Bessemer Venture Partners were also participating in the funding round with other institutional investors. According to Axion, the new capital is meant to be utilized in building its AI and accelerating its product development process to assist manufacturers who would want to face quality problems earlier on.

Founded in 2021, Axion is a software platform company serving the automotive, aerospace, medtech, and electronics manufacturing industries. The firm boasts that its technology can help lower the cost of warranty and enhance product reliability by pointing out defects at an earlier stage of the production cycle.

Salesforce, with its investment division, is still supporting AI-based platforms that contribute to innovation initiatives across the enterprise. The presence of Salesforce Ventures indicates trust in the method that Axion chooses to implement AI on a mass scale in the industry, which involves complicated manufacturing procedures.

Axion has claimed to serve a customer base of Fortune 500 manufacturers; however, it has not indicated specific client names, revenues, and growth rates. The company claimed that the Series B round places the company in a strong position to serve increasing demand for intelligent and data-driven quality management solutions founded by strategic investors like Salesforce.