Enterprise blockchain technology provider Axoni announced on Tuesday it secured $32 million through its Series B funding round, which was led by Goldman Sachs and Nyca Partners. The funding round included participation from Andreessen Horowitz, Citi, Coatue Management, Digital Currency Group, F-Prime Capital, Franklin Templeton Investment, J.P. Morgan, Nex Group, Wells Fargo, and Y Combinator.
Founded in 2013, Axoni notably develops novel blockchain solutions while focusing on the capital markets industry. The company claims it has demonstrated that its blockchain software may serve multiple asset classes and use cases at the world’s “most advanced” financial institutions.
“Axoni fosters a collaborative, high-energy environment filled with individuals who want to proactively solve complex problems and deliver valuable solutions to clients.”
Axoni also explained that its AxCore technology has been deployed across a variety of markets ranging from complex derivatives to high-volume foreign exchange. The company stated it claims to use the latest round of financing to enhance its data synchronization technology, expand its suite of infrastructure products to support mission-critical deployments of AxCore, and broaden the network of enterprises leveraging distributed ledgers. The funds will also be used to advance the development of AxLang, an Ethereum-compatible smart contracting language to enable formal verification.
Speaking about the investment round, Greg Schvey, CEO of Axoni, stated:
“Our strategic partners have been critical to our success so far; we are delighted to strengthen and expand those relationships with this financing as we continue to deploy Axoni’s technology.”
Ashwin Gupta, Managing Director of Goldman Sachs, added:
“Axoni has established itself as a market leader in enterprise blockchain, delivering solutions that can be used at scale across financial markets. We are pleased to work with them as they execute their strategy.”