Axceta to Receive $200,000 in Funding to Accelerate the Development and Commercialization of its Agflo Connected Silos Solution

Montreal, September 13, 2023 – CEIM is proud to announce that it has awarded, through the Société d’Investissement Jeunesse (S.I.J.) impact fund, a total of $200,000 in funding to Axceta, a fast-growing Montreal-based startup that aims to leverage the potential of the IoT (Internet of Things) and data visualization to transform businesses.

This contribution will enable the company, which already counts AGCO CorpSollio and Hydro-Québec among its key customers, to accelerate the development of its connected silo solution, increase its commercialization efforts and pursue growth in new markets across North America.

“Agtech innovations that integrate big data and smart sensor technologies have the potential to be real game-changers, enabling our agricultural industry to become more efficient, focused and resilient, and Axceta’s solution is a perfect illustration of this. Access to strategic, actionable information in real time is a tremendous asset for farm operators who can better anticipate demand and optimize their inventory management and logistics processes, while still reducing production costs and their carbon footprint,” said Christian Perron, President and Chief Operating Officer of CEIM. “We are proud to be able to lend our expertise to the team, and to provide them with the funding support needed for this promising project to sustain growth.”

“The timely financial support received from S.I.J. will enable us to complete the development of our sensor. Integrated into the Connected Silos IoT solution, it enables the automation of grain silo supply for mills. Additionally, we are excited to leverage the expertise of the CEIM team to expand our customer base into new markets across Canada and the United States,” added Sherif Zaroubi, CEO of Axceta.

About Axceta

Axceta is a Canadian company that offers IT consulting and connected object development services. Among other services, Axceta helps energy companies develop their smart energy grids, designs sensors for key players in the agricultural sector, and helps automotive OEMs connect their vehicles. Axceta’s team is made up of experts in connectivity, cloud services, embedded software and data visualization.
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About S.I.J.

The Société d’Investissement Jeunesse (S.I.J.) is aimed at young entrepreneurs aged 18 to 40 and designed to provide them with financial support so that they can launch their startups or growth through acquisitions or investments in the capital stock of a company. These loans are granted to companies across the province of Quebec under the terms of the Founder, Acquirer and Partner components for innovative and technological companies.
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