Axyon AI closes a €3.9 million investment round to foster AI-based innovations in the asset management industry.
Axyon AI, an Italian fintech company and pioneer in artificial intelligence (AI), has closed its latest fundraising led by the U.S. venture capital firm Montage Ventures, with participation from The Techshop SGR and angel investors. The funding round marks a new chapter in Axyon AI’s journey towards revolutionizing the asset management industry through cutting-edge AI-based technology.
The €3.9 million capital injection will consolidate Axyon AI’s commercial expansion and technological development initiatives, fostering the creation of further innovations. The funding round consists of €2.3 million in new liquidity; the convertible notes issued in 2022 and subscribed by CDP Venture Capital’s Fondo Rilancio Startup, ING Ventures, and UniCredit, among others, will secure the remaining €1.6 million.
Since its inception in 2016, Axyon AI has consistently been at the forefront of providing innovative predictive solutions based on AI. By integrating advanced predictions based on deep learning models and active indices, Axyon AI enables asset managers to operate in complex market dynamics with greater precision.
Daniele Grassi, CEO and co-founder of Axyon AI, commented:
“This fundraising, thanks to the partnership with Montage Ventures and The Techshop, represents a significant step forward for us. Their trust in our vision and extensive support are crucial to accelerating our growth. This investment opens a new era of innovation and commercial expansion for us; I look forward to working towards realizing our mission and providing the most accurate and reliable AI solutions for investment management.”
Todd Kimmel, managing director of Montage Ventures, stated:
“We believe asset allocation is undergoing a transformative phase, and artificial intelligence will play a fundamental role in shaping its future. Axyon AI is well-positioned to seize this opportunity, thanks to its cutting-edge AI-based technology that can offer alpha opportunities through asset rankings and model strategies in their preferred asset classes. One of the key factors in our decision was certainly the exceptional team at Axyon AI. Their deep expertise in both finance and AI and a successful track record of innovations increase confidence in the company’s ability to realize its vision and provide tangible added value to the financial sector. Axyon AI’s solutions have proven to be scalable and adaptable, thus capable of meeting the diverse needs of financial institutions. This makes them a strategic partner qualified to evolve and keep pace with the financial ecosystem’s dynamic requirements. We are excited to collaborate with Daniele and the entire Axyon AI team. Our investment witnesses our conviction about the transformative power of AI in the financial sector and our confidence in the company’s ability to bring it to fruition successfully.”
Gianluca D’Agostino and Aurelio Mezzotero, managing partners of The Techshop, stated:
“We are pleased to invest in Axyon AI and help them grow their customer base. AI will play a central role in the investment process of every asset manager and will become a truly global and borderless industry: in this new world, Daniele, Giacomo, Jacopo, and their team are in a promising position to take centre stage. We look forward to working with them and the other investors, bringing our expertise in AI and the fintech space, as well as our constant support, to the table.”
About Axyon AI: Axyon AI is a fintech company that aims to take asset managers into the future with high-quality and accurate predictive solutions using artificial intelligence and deep learning. The company’s solutions help asset managers generate winning investment strategies by uncovering alpha opportunities with AI. Axyon AI is proud to be one of the world’s most innovative AI solution providers in the financial services sector, being included in the AIFINTECH100 for 2023. For more information, visit https://axyon.ai and follow us on LinkedIn.