PAXAFE, INC. — Department of Defense SBIR Phase I: AF203-CSO1

Description

PAXAFE, Inc. was founded in 2018 and is based in Milwaukee, WI. It is developing a solution targeting the following Focus Areas: Responding to Sustainment Needs Quicker and More Affordably, and Smart Manufacturing. The company builds an AI-enabled IoT platform that classifies and contextualizes supply chain data to minimize adverse events, de-risk B2B shipments and enable dynamic cargo insurance. PAXAFE technology aggregates supply chain sensor and third-party data, enables dynamic inventory asset management, and contextualizes all data to not only answer the “What?” “Where?” and “Who?” but also the “How?” and “Why?” related to package damage, loss, or delays. Via its IoT-enabled, reusable solution, PAXAFE technology delivers a verifiable chain-of-custody, which enables context and the ability to automate insurance claims. The company’s proprietary IoT hardware sensors, TRAK-X, which are reusable and geared towards larger pallet and container tracking, and SENS-X, which are generally used towards high-volume parcels and warehouse tracking, are smart reusable data collection devices. They collect parcel and pallet level data and feed it through to the company’s mobile and web-based CONTXT platform. To date, PAXAFE has raised $1 million in venture capital and its technology has been used in 13 paid pilot programs, notably with Jewelers Mutual Insurance Group (60% of North American jewelry retail market), Brinks, and Brady Corporation.