Introducing: Axiom Cloud Inc.
We are excited to announce a new chapter for the Axiom team. Our mission remains the same: create a more sustainable future by transforming the way that the world’s commercial refrigeration systems interact with the power grid and the atmosphere. What has changed is our singular focus on delivering scalable value through intelligent software systems.
The Axiom Exergy team is now Axiom Cloud Inc.
The COVID-19 pandemic challenged our ability to operate two businesses at the same time. The first was a hardware business known for the Refrigeration Battery product. The second was a software business led by our Virtual Battery and Virtual Technician applications. The economic crisis required us to pick one path in order to thrive going forward. We chose software. Consequently, we closed the hardware division in March 2020.
However, the transformation wasn’t complete. We still had two large R&D labs full of expensive equipment, our customers still thought of us as a hardware company, and our corporate/cost structure made it nearly impossible to fundraise as an emerging enterprise SaaS provider in current market conditions. In order to position ourselves to reshape the commercial refrigeration market using software, we closed Axiom Exergy Inc. in July 2020.
The assets of Axiom Exergy, including the Refrigeration Battery IP, first-generation cloud infrastructure, company name, and inventory, were sold to Turntide Technologies to complement their existing technology portfolio. Turntide has installed its revolutionary electric motor technology with dozens of customers, reducing their motor electricity consumption by an average of 64%, and is powering the systems of leading OEMs. We are thrilled that Turntide shares our drive to transform industry and mitigate climate change, and we look forward to working together in the future.
Our journey as Axiom Cloud Inc. starts today. Our entire team remains committed to Axiom’s original vision because we share three common beliefs:
We have identified multiple painful problems that the retail grocery industry faces.
Customers have a strong appetite for software solutions to these problems.
We have the opportunity to generate massive impact (industry transformation, climate change, and financial).
And, we are excited to announce that completely new versions of our Virtual Technician and Virtual Battery apps will be released in the coming weeks, complete with enhanced performance and features that will further support our customers’ goals around refrigeration management.
We look forward to continuing to work together as we begin this new chapter. You can reach us at our new email addresses ending in “@axiomcloud.ai.”
Let’s push the commercial refrigeration industry forward together.
Amrit is the CEO and Cofounder of Axiom Cloud Inc.
Update: On August 27, Axiom Cloud Inc. and Turntide Technologies announced an agreement in which Turntide will become a minority investor in Axiom and license its technology. By removing technological barriers and providing ongoing support, Turntide will help Axiom Cloud accelerate its impact on retail grocery and other markets with commercial refrigeration assets. See the associated press release for further details.