PR86065

LONDON, Oct. 13, 2020 /PRNewswire=KYODO JBN/--

Company Secures $10M Investment and Announces New Shareholders and CEO

Axora, the global innovation platform and marketplace for leading digital

solutions for industrial companies, is set to expand after closing over $10

million in funding from private placements. The latest round of investment

welcomes new minority shareholders Traxys, the leading global commodity

supplier and Société Générale. A group of private investors, including ABCP

fund and the Boston Consulting Group provided further financing. This will

enable Axora to further develop its innovative platform and grow its portfolio

of the latest and most relevant technology solutions.

"We estimate that approximately $200 billion in Intellectual Property is

duplicated every year across industrial companies," said Ajay Chowdhury,

Managing Director and Partner, BCG Digital Ventures. "Many companies across

different sectors are looking to solve the same or similar problems but

unfortunately there's a lack of transparency across industries which results in

wasted investment as companies develop technology solutions which have already

been built elsewhere."

In addition to its new shareholders, Axora also welcomes Ritz Steytler as CEO,

following an extensive search process. Ritz has more than 27 years' experience

in the technology-led transformation and growth of multinational businesses. He

spent the first part of his career as a consultant and systems integrator with

Accenture and IBM, delivering transformation programmes for some of the biggest

names in retail, telecommunications and financial services. Later, he was CEO

and board director of the omni-channel payment processor PXP up to its

acquisition by Kalixa in May 2014, and subsequently COO and board director of

Kalixa until October 2015. Before joining Axora, he was COO of Featurespace,

the world leader in adaptive behavioral analytics and AI-based fraud detection.

"This is an exciting time to be joining Axora as CEO. The need for companies to

be digital, safer, sustainable and efficient has never been greater," said Ritz

Steytler. "Through its innovative digital solutions, Axora is uniquely placed

to help industrial companies to transform and thrive. This new investment not

only validates our offering but ensures that we continue to identify and

provide digital solutions that solve many of the pain points suffered by

businesses in industry today. I'm looking forward to leading Axora through the

next phase of its development."

Together with its expert industry insights, Axora hosts more than 100

innovative solutions from sector leaders to start-ups, universities, and

consultancies. Examples include machine vision technology that identifies

mineral ore contaminants three times faster than the human eye, and predictive

modelling for oil rigs which uses built-in sensors and AI to maximise

production. Axora's proven digital solutions help to reduce wasted investment,

avoid duplication and accelerate business growth.

Axora was developed by a team of industry experts, engineers and entrepreneurs

including the Boston Consulting Group. It is currently focusing on the Oil and

Gas and Mining and Metals sectors and will soon expand into other sectors.

About Axora:

Axora is the new cross-industry innovation platform and marketplace for digital

solutions.  We help leading global organisations discover best-in-class

innovation to unlock transformation and deliver business value. Led by a team

of industry experts, and backed by well-known global investors, we exist to

deliver on the potential of digital innovation. Enabled by our industry leading

web platform, we showcase the latest expert insight and industry perspectives

on technology, combined with leading edge solutions that solve today's industry

challenges.

SOURCE: Axora