What does Pax do?
Pax provides AI-powered duty drawback solutions by partnering with brokers and tech providers to streamline refund maximization processes and help companies reclaim every recoverable dollar.
How much did they raise?
The company raised $4.5M in a Seed round led by Initialized Capital, with participation from Sancus, Basis Set, Soma Capital, General Catalyst, Transpose, ZVC1 and Flexport angels.
What are their plans for the money?
With this funding, Pax plans to scale its team, enhance its platform, and expand its operations, aiming to further refine its proprietary AI-powered algorithm and increase the efficiency of duty recovery processes for businesses.
What have they achieved so far?
Pax has already developed a proprietary AI-powered refund maximization algorithm that assists companies in identifying the maximum recoverable duties and accelerating payment processes.
