First investment round for Axom

Zurich based Axom Solutions,  automating visual inspection through image analysis in the healthcare industry, has completed its first financing round let Spicehaus Partners. With Novartis, Sanofi already using the solution, the startup will use the funds to expand its offering.

Axom has developed an image analysis software combining cutting-edge Artificial Intelligence with Robotics. It provides a comprehensive and adaptable solution to inspect objects for many different use cases such as automated defect detection, automatic counting, and smart traceability, including pharma, medical devices and biotech industries. Among its customers are global leading companies such as Novartis, Sanofi and Bristol-Myers Squibb.

“In the world of computer image analysis, neural networks become obsolete after 12 to 24 months. Therefore, our challenge is to standardise a solution based on a constantly evolving complex technology that is extremely easy to use. Indeed, we believe that patients need the best, and that’s why we help pharmaceutical companies stay at the forefront of innovation”, said Tristan Salomon, CEO of Axom.

Moving forward, the company has secured its first investment round led by Spicehaus Partners through their Spicehaus Swiss Venture Fund and two business angels. The proceeds will allow Axom to extend its offering to other products and offer an inspection service to its customers. Currently, manufacturers take an average of 18 months to automate the inspection. Axom aims to continue improving its solution to make this possible within one month.

“We are convinced that Axom’s digital solutions replace prevailing manual, labour-intense inspection activities while increasing efficiency, accuracy and reliability in a high-regulated sector,” said Daniel Andres, co-founder and partner at Spicehaus Partners

Axom was established in 2019 by two IT engineers. Today it has a team of five machine learning experts.

(Press release/RAN)