Axiom Cloud Secures Contract with Top 10 Grocery Retailer
Deal News | Jan 10, 2025 | DFJ Frontier
Axiom Cloud, a company specializing in AI-powered refrigeration management solutions, has successfully secured a new contract with a leading U.S. top 10 grocery retailer. Additionally, the company has closed a significant funding round driven by existing investors including Blue Bear Capital, Leadout Capital, and Vela Partners. The funding aims to support Axiom's plans to expand its operations to meet the escalating market demand for technologies designed to cut operational expenses, enhance energy efficiency, and achieve sustainability targets. CEO and Co-Founder Amrit Robbins highlights the current shift towards modernized refrigeration management, emphasizing the immediate financial benefits and ease of integration for retailers and cold storage operators. The recent contract, alongside numerous ongoing customer pilots, signals a rapid acceleration in the adoption of software-only refrigeration management solutions.
Sectors
- Artificial Intelligence
- Retail
- Energy Efficiency
Geography
- United States – The contract was secured with a Top 10 U.S. grocery retailer, indicating the geographical focus.
- California – Axiom Cloud is based in San Jose, California, which is part of the U.S. geography mentioned.
Industry
- Artificial Intelligence – Axiom Cloud's solutions are AI-powered, specifically tailored for refrigeration management.
- Retail – The new contract is with a Top 10 U.S. grocery retailer, emphasizing the industry focus.
- Energy Efficiency – Axiom Cloud's solutions aim to improve energy efficiency in refrigeration management.
Financials
- Undisclosed – The amount of the new funding round led by existing investors.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Axiom Cloud | Target company | Company | Specializes in AI-powered refrigeration management solutions. |
| Top 10 U.S. grocery retailer | Client | Company | Buyer of Axiom's refrigeration management solutions. |
| DFJ Frontier | Investor | Company | Private equity firm backing Axiom Cloud. |
| Blue Bear Capital | Investor | Company | Existing investor in Axiom Cloud. |
| Leadout Capital | Investor | Company | Existing investor in Axiom Cloud. |
| Vela Partners | Investor | Company | Existing investor in Axiom Cloud. |
| Amrit Robbins | CEO and Co-Founder | Person | Leader and spokesperson for Axiom Cloud. |