Latest news with #AXL
National Post
5 days ago
- Business
- National Post
AXL Launches Venture Studio with $15M to Build 50 AI Companies, Fuelling Canada's Global Leadership in AI Research-to-Commercialization
Article content TORONTO — Today, AXL, a new Canadian venture studio transforming world-class AI research into high-growth companies, has launched with a plan to build 50 AI-powered companies over the next five years to fuel Canada's research-to-commercialization pipeline. This is enabled by an oversubscribed first closing of its venture fund of $15 million CAD. With this, AXL will form and scale homegrown innovation — and keep it here. Article content Daniel Wigdor, one of Canada's top innovators and AXL's Co-Founder and CEO, is reinvesting back into the Canadian tech ecosystem as the fund's lead investor, following the sale of his previous company, Chatham Labs, to Meta, where he served as the founding director of their Toronto research centre. Article content Article content AXL is also backed by a coalition of successful Canadian entities and strategic industry investors rallying around the future of AI in Canada, including David Martin, Founder of Smart Technologies; Gord Kurtenbach, former Head of Autodesk Research; Joshua Greer, Founder of Real-D; Frank Mersch, Chief Investment Officer and Senior Portfolio Manager of Front Street Capital; Rob McEwen, Chairman and Chief Owner of McEwen Mining; and many of Canada's leading professors in applied AI. Article content As the global AI race heats up, Canada faces mounting pressure to retain its intellectual property and top talent to secure its leadership. Over the past decade, American firms have acquired 70 Canadian AI companies and counting, while Silicon Valley firms have opened large local offices, resulting in the loss of valuable intellectual property and potential upside. According to a study by Element AI in 2018, Canada experienced a net talent outflow, underscoring the challenge of retaining its top AI minds. Article content 'Canada has a long history of pioneering breakthroughs, including AI, yet we've repeatedly failed to capture the value of our own innovations as our talent and biggest ideas scale somewhere else,' said Daniel Wigdor, Co-Founder and CEO of AXL. 'We're here to change that by connecting Canada's AI excellence with real market needs and the full-stack support that founders need to win globally.' Article content Where research becomes scalable ventures Article content Founded by a team of seasoned tech entrepreneurs and executives — Daniel Wigdor, Tovi Grossman, David Sharma, and Ray Sharma — AXL combines decades of experience scaling companies worldwide in a mission to bridge cutting-edge research with commercial success. Article content AXL's proprietary venture studio model integrates access to AI research from the University of Toronto with market insights from Canada's top businesses through its AI Catalyst program. In this corporate partnership initiative, leading Canadian companies like Dillon Consulting partner with AXL to investigate how AI could reshape their businesses, often becoming the first customer and strategic investor in resulting ventures. Article content This blend creates an environment where ventures are rooted in validated industry demand, supported by a full-stack team that manages everything from prototype and application development to legal, finance, sales, and growth strategies. Article content 'Our corporate partnerships are the engine that transforms lab breakthroughs into ventures with real-world traction,' said David Sharma, Chief Growth Officer at AXL. 'By collaborating directly with Canada's private sector, we ensure that innovation is guided by genuine industry needs and positioned for rapid adoption. This approach closes a critical gap in Canada's innovation system, turning bright ideas into scalable solutions that deliver long-term value for our partners and the broader economy.' Article content Seeing beyond the horizon Article content NVIDIA's Jensen Huang has called Canada the 'Epicentre of Modern AI,' but what's lesser known is Canada's leadership in applied computing, the field that converts foundational research into practical tools. Applied computing bridges the gap between advanced technology and everyday life, making advanced technology more accessible to all. Article content 'The transformative power of AI will come from impactful, practical applications, not just large models or infrastructure,' said Wigdor. 'Focusing solely on building bigger models risks missing the real opportunities in creating tools that genuinely empower people and open new possibilities in our daily lives.' Article content Canada's 'AI moment' is here. It's a once-in-a-generation opportunity to fundamentally shift the balance of power in the tech industry. While the rest of the world rushes to commoditize infrastructure, AXL can see past that horizon by investing in the application layer, well beyond what Silicon Valley is currently betting on. Article content 'If we do this right, we won't be saying things like 'Toronto is the Silicon Valley of Ontario.' Two decades from now, San Francisco will be trying to brand itself the 'Toronto of California,'' added Wigdor. Article content Canada's path to a self-sustaining, world-leading AI ecosystem Article content AXL is committed to nurturing a new generation of founders by providing capital, mentorship, operations, and the infrastructure necessary to turn ideas into impactful ventures, with the broader mission of creating a thriving, self-sustaining AI ecosystem that retains talent, intellectual property, and economic prosperity within Canada. Article content 'We believe that Canadian entrepreneurs deserve the opportunity to build and scale world-class AI-powered companies here at home,' added Wigdor. 'With AXL, we're creating the infrastructure and community needed to transform innovation into lasting impact.' Article content To learn more about how AXL is fuelling Canada's AI research to commercialization pipeline, visit their website at ABOUT AXL AXL is a Canadian venture studio transforming world-class research into high-growth companies that shape the future of applied AI. Led by seasoned tech entrepreneurs and applied AI experts, AXL's mission is to ensure Canada's top breakthroughs are built and scaled at home. By connecting academia with real market demand and full-stack venture creation, AXL helps Canada move from invention to impact, anchoring talent, intellectual property, and long-term economic value within the country. Article content Article content Article content Article content Contacts Article content Article content Article content
Business Wire
5 days ago
- Business
- Business Wire
AXL Launches Venture Studio with $15M to Build 50 AI Companies, Fuelling Canada's Global Leadership in AI Research-to-Commercialization
TORONTO--(BUSINESS WIRE)--Today, AXL, a new Canadian venture studio transforming world-class AI research into high-growth companies, has launched with a plan to build 50 AI-powered companies over the next five years to fuel Canada's research-to-commercialization pipeline. This is enabled by an oversubscribed first closing of its venture fund of $15 million CAD. With this, AXL will form and scale homegrown innovation — and keep it here. Daniel Wigdor, one of Canada's top innovators and AXL's Co-Founder and CEO, is reinvesting back into the Canadian tech ecosystem as the fund's lead investor, following the sale of his previous company, Chatham Labs, to Meta, where he served as the founding director of their Toronto research centre. AXL is also backed by a coalition of successful Canadian entities and strategic industry investors rallying around the future of AI in Canada, including David Martin, Founder of Smart Technologies; Gord Kurtenbach, former Head of Autodesk Research; Joshua Greer, Founder of Real-D; Frank Mersch, Chief Investment Officer and Senior Portfolio Manager of Front Street Capital; Rob McEwen, Chairman and Chief Owner of McEwen Mining; and many of Canada's leading professors in applied AI. As the global AI race heats up, Canada faces mounting pressure to retain its intellectual property and top talent to secure its leadership. Over the past decade, American firms have acquired 70 Canadian AI companies and counting, while Silicon Valley firms have opened large local offices, resulting in the loss of valuable intellectual property and potential upside. According to a study by Element AI in 2018, Canada experienced a net talent outflow, underscoring the challenge of retaining its top AI minds. 'Canada has a long history of pioneering breakthroughs, including AI, yet we've repeatedly failed to capture the value of our own innovations as our talent and biggest ideas scale somewhere else,' said Daniel Wigdor, Co-Founder and CEO of AXL. 'We're here to change that by connecting Canada's AI excellence with real market needs and the full-stack support that founders need to win globally.' Where research becomes scalable ventures Founded by a team of seasoned tech entrepreneurs and executives — Daniel Wigdor, Tovi Grossman, David Sharma, and Ray Sharma — AXL combines decades of experience scaling companies worldwide in a mission to bridge cutting-edge research with commercial success. AXL's proprietary venture studio model integrates access to AI research from the University of Toronto with market insights from Canada's top businesses through its AI Catalyst program. In this corporate partnership initiative, leading Canadian companies like Dillon Consulting partner with AXL to investigate how AI could reshape their businesses, often becoming the first customer and strategic investor in resulting ventures. This blend creates an environment where ventures are rooted in validated industry demand, supported by a full-stack team that manages everything from prototype and application development to legal, finance, sales, and growth strategies. 'Our corporate partnerships are the engine that transforms lab breakthroughs into ventures with real-world traction,' said David Sharma, Chief Growth Officer at AXL. 'By collaborating directly with Canada's private sector, we ensure that innovation is guided by genuine industry needs and positioned for rapid adoption. This approach closes a critical gap in Canada's innovation system, turning bright ideas into scalable solutions that deliver long-term value for our partners and the broader economy.' Seeing beyond the horizon NVIDIA's Jensen Huang has called Canada the 'Epicentre of Modern AI,' but what's lesser known is Canada's leadership in applied computing, the field that converts foundational research into practical tools. Applied computing bridges the gap between advanced technology and everyday life, making advanced technology more accessible to all. 'The transformative power of AI will come from impactful, practical applications, not just large models or infrastructure,' said Wigdor. 'Focusing solely on building bigger models risks missing the real opportunities in creating tools that genuinely empower people and open new possibilities in our daily lives.' Canada's 'AI moment' is here. It's a once-in-a-generation opportunity to fundamentally shift the balance of power in the tech industry. While the rest of the world rushes to commoditize infrastructure, AXL can see past that horizon by investing in the application layer, well beyond what Silicon Valley is currently betting on. 'If we do this right, we won't be saying things like 'Toronto is the Silicon Valley of Ontario.' Two decades from now, San Francisco will be trying to brand itself the 'Toronto of California,'' added Wigdor. Canada's path to a self-sustaining, world-leading AI ecosystem AXL is committed to nurturing a new generation of founders by providing capital, mentorship, operations, and the infrastructure necessary to turn ideas into impactful ventures, with the broader mission of creating a thriving, self-sustaining AI ecosystem that retains talent, intellectual property, and economic prosperity within Canada. 'We believe that Canadian entrepreneurs deserve the opportunity to build and scale world-class AI-powered companies here at home,' added Wigdor. 'With AXL, we're creating the infrastructure and community needed to transform innovation into lasting impact.' To learn more about how AXL is fuelling Canada's AI research to commercialization pipeline, visit their website at ABOUT AXL AXL is a Canadian venture studio transforming world-class research into high-growth companies that shape the future of applied AI. Led by seasoned tech entrepreneurs and applied AI experts, AXL's mission is to ensure Canada's top breakthroughs are built and scaled at home. By connecting academia with real market demand and full-stack venture creation, AXL helps Canada move from invention to impact, anchoring talent, intellectual property, and long-term economic value within the country.
Yahoo
13-06-2025
- Automotive
- Yahoo
When Will Strattec Security's Restructuring Begin to Show Results?
Strattec Security Corporation STRT, a leading global company that manufactures high-tech locking and access systems for cars, is retaining a larger share of the revenue it generates from each sale as profit. One of the most notable financial successes for STRT in the last reported quarter was the substantial improvement in profit margins, specifically as the gross margin surged 560 basis points year over year, reaching almost 16%. The factors that contributed to these positive developments include the company's initiatives to strategically raise prices on some of its products while enhancing its operations with favorable currency exchange rates. What is more encouraging is the rise in STRT's adjusted EBITDA margin, which jumped from 4.4% to almost 9% year over year. With EBITDA representing the core health of the company's business, like building and selling automotive security products, it is becoming more profitable over time. Most importantly, STRT has witnessed this growth while investing in hiring talent and operational restructuring in Mexico and Milwaukee. This initiative to increase its profits while investing in growth projects reflects STRT's smart financial management. It is to be noted that Strattec Securityexpects that the changes it made to improve efficiency, especially in Mexico and Milwaukee, will start showing their full benefits in the first quarter of fiscal 2026. Are AXL and BWA on a Path to Greater Operational Profitability? Both American Axle & Manufacturing Holdings, Inc. AXL and BorgWarner BWA are possibly on a path to greater operational profitability like STRT. AXL projects its adjusted EBITDA to be between $665 million and $745 million for full-year 2025 and positive free cash flow. Notably, AXL emphasized a focus on long-term profitable growth, especially with the Dowlais integration and restructuring to reduce fixed costs. For 2025, BWA aims to maintain a 9.6% to 10.2% operating margin and generate $650 million to $750 million in free cash flow, reaffirming its confidence in sustained profitable growth. Notably, BWA's business has become more profitable over time thanks to margin expansion, strategic exits and strong cost control. The company is performing well even in a challenging market. STRT's Price Performance, Valuation & Estimates Shares of STRT have jumped 147.3% over the past year, outpacing the 4.5% decline of the composite stocks belonging to the industry. Image Source: Zacks Investment Research From a valuation standpoint, STRT trades at a trailing 12-month price-to-earnings (P/E) of 10.86x. This is below the broader industry average of 25.22x. Image Source: Zacks Investment Research The Zacks Consensus Estimate for STRT's fiscal 2025 earnings hasn't witnessed any revisions over the past seven days. Image Source: Zacks Investment Research STRT currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BorgWarner Inc. (BWA) : Free Stock Analysis Report American Axle & Manufacturing Holdings, Inc. (AXL) : Free Stock Analysis Report Strattec Security Corporation (STRT) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Associated Press
10-06-2025
- Business
- Associated Press
Upbit Lists Axelar's AXL Token in AXL/KRW Trading Pair
SEOUL, South Korea--(BUSINESS WIRE)--Jun 10, 2025-- Upbit, a South Korean cryptocurrency exchange, announced the listing of AXL, the native token of Axelar Network, in an AXL/KRW trading pair, effective June 10, 2025. The listing is detailed in Upbit's official notice. In its opening hours, the AXL-KRW pair recorded trading volume of over $220 million, ranking as the third largest trading pair on Upbit by 24-hour volume, surpassing BTC/KRW and XRP/KRW pairs, per CoinGecko data. The AXL token supports Axelar's blockchain interoperability network, facilitating cross-chain communication and asset transfers. AXL is used for transaction fees and governance within the network, enabling developers to build applications that connect multiple blockchain ecosystems. About Axelar Axelar is a decentralized network and development platform securely connecting the world's blockchains and financial infrastructure. Its secure, programmable multichain product stack enables seamless interoperability across Web3—critical for the next wave of institutional-grade use cases. With backing from top-tier investors including Dragonfly, Polychain, Binance Labs and Coinbase Ventures, Axelar is enabling the next generation of financial infrastructure: from multichain stablecoins to tokenized real-world assets (RWAs), built with security, compliance and enterprise scale in mind. Learn more at About Axelar Foundation Axelar Foundation is a nonprofit established to support the growth and adoption of the Axelar Network, a decentralized interoperability platform securely connecting the world's blockchains and financial infrastructure.. Learn more at View source version on CONTACT: Media Karla Vilhelem PR Director, MarketWaves [email protected] (754) 215-4315 KEYWORD: ASIA PACIFIC SOUTH KOREA INDUSTRY KEYWORD: SOFTWARE NETWORKS PROFESSIONAL SERVICES PHILANTHROPY BLOCKCHAIN TECHNOLOGY DIGITAL CASH MANAGEMENT/DIGITAL ASSETS SECURITY CRYPTOCURRENCY WEB3 FINANCE OTHER PHILANTHROPY SOURCE: Axelar Foundation Copyright Business Wire 2025. PUB: 06/10/2025 05:12 PM/DISC: 06/10/2025 05:10 PM
Business Wire
10-06-2025
- Business
- Business Wire
Upbit Lists Axelar's AXL Token in AXL/KRW Trading Pair
SEOUL, South Korea--(BUSINESS WIRE)--Upbit, a South Korean cryptocurrency exchange, announced the listing of AXL, the native token of Axelar Network, in an AXL/KRW trading pair, effective June 10, 2025. The listing is detailed in Upbit's official notice. In its opening hours, the AXL-KRW pair recorded trading volume of over $220 million, ranking as the third largest trading pair on Upbit by 24-hour volume, surpassing BTC/KRW and XRP/KRW pairs, per CoinGecko data. The AXL token supports Axelar's blockchain interoperability network, facilitating cross-chain communication and asset transfers. AXL is used for transaction fees and governance within the network, enabling developers to build applications that connect multiple blockchain ecosystems. About Axelar Axelar is a decentralized network and development platform securely connecting the world's blockchains and financial infrastructure. Its secure, programmable multichain product stack enables seamless interoperability across Web3—critical for the next wave of institutional-grade use cases. With backing from top-tier investors including Dragonfly, Polychain, Binance Labs and Coinbase Ventures, Axelar is enabling the next generation of financial infrastructure: from multichain stablecoins to tokenized real-world assets (RWAs), built with security, compliance and enterprise scale in mind. Learn more at About Axelar Foundation Axelar Foundation is a nonprofit established to support the growth and adoption of the Axelar Network, a decentralized interoperability platform securely connecting the world's blockchains and financial infrastructure.. Learn more at
