Holiday Funding Roundup: Axios, Athletigen


A few Canadian companies received rounds of funding in their stockings over the holidays. Here’s the latest on who raised how much, from whom, in Canada.

Axios announces closing of $14 million in financing

Mississauga-based smart supply chain company Axios has raised $14 million in a round led by Relay Ventures.

Working mostly in the perishable food industry, Axios says the funding will help it meet the rising demand from food producers in the US. Axios supplies proprietary tracking and information systems meant to improve supply chain visibility and food safety.

In addition to the funding, Relay Ventures managing partner John Albright will serve as director of Axios. “Axios is utilizing mobile sensor technology to disrupt an unsophisticated, yet critical component of the supply chain,” said Albright. “The Company has been able to attract top-tier customers within their entry vertical and is continuing to build strong demand for the Axios smart pallet.” Relay Ventures also appointed Osama Arafat as chairman of Axios’ board of directors.

At the same time, Axios completed the acquisition of Axsense, a company that provides devices that can provide temperature, motion, and shock sensing capabilities, for $2.5 million. Axios said that this acquisition will help improve its own supply chain offering.

Athletigen snags $1.55 million seed round

Sports genetics company Athletigen raised a $1.55 million seed round to foster the growth of its Athletigen Performance Platform, a dashboard that identifies how an athlete’s genetics specifically affects their athleticism, nutrition, and sports psychology, and creates a personalized blueprint for precision performance.

The Halifax-based company developed its platform based on two decades of sports genetic research, and said that it is already being used by elite athletes like Rio 2016 Olympians. Exponential Partners led the round and Exponential’s Pat Wilkinson was named to Athletigen’s board of directors.

“We are proud of what our outstanding team has accomplished to date, launching the world’s most comprehensive sports genetics analysis platform,” said Jeremy Koenig, CEO of Athletigen. “We welcome the confidence and guidance of Exponential Partners and our other investors and look forward to using these new resources to establish Athletigen as the leading human performance brand in the field of genomics.”

Jessica Galang

Jessica Galang

Freelance tech writer. Former BetaKit News Editor.

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