Axyon AI, an Italian AI fintech company, has closed its latest funding round led by the US-based venture capital firm Montage Ventures and accompanied by The Techshop SGR, alongside other angel investors.
The investment round marks a new chapter in Axyon AI’s journey “towards revolutionising the Asset Management industry with cutting-edge AI technology.”
The €3.9 million capital injection “will catalyze Axyon AI’s commercial expansion and technological development initiatives, fostering further innovation.”
The funding round will “provide €2.3 million in new cash, with the remaining €1.6 million secured through the conversion of the convertible notes issued in 2022, subscribed by the ‘Rilancio Startup fund’ by CDP Venture Capital, ING Ventures and UniCredit, among others.”
Since its foundation in 2016, Axyon AI claims that it “has been at the forefront of delivering advanced AI-driven predictive solutions. By integrating cutting-edge AI-powered insights and active indices, Axyon AI enables asset managers to navigate complex market dynamics with greater precision and insight.”
Daniele Grassi, CEO and co-founder of Axyon AI, comments:
“This fundraising round, bolstered by the partnership with Montage Ventures and Techshop, is a significant leap forward. Their confidence in our vision and extensive support are instrumental to our accelerated growth. This investment ushers in an innovation and commercial expansion era at Axyon AI, and I’m eager to work towards our vision of providing the most accurate and reliable AI solutions for investment management.”
Todd Kimmel, Managing Director of Montage Ventures, expresses his views:
“We believe that asset allocation is undergoing a transformative phase, and AI will play a pivotal role in shaping its future. Axyon AI is well-positioned to capitalize on this opportunity by leveraging its state-of-the-art technology to deliver alpha opportunities via AI-powered asset rankings and model strategies on their preferred asset classes. A key factor in our decision was the exceptional team behind Axyon AI.”
As noted in the update:
“Their deep expertise in both finance and AI, along with a track record of successful innovations, instills confidence in the company’s ability to execute its vision and deliver tangible value to the financial industry. Axyon AI’s solutions demonstrate scalability and adaptability to meet the diverse needs of financial institutions. This flexibility positions them as a strategic partner capable of evolving alongside the dynamic requirements of the financial ecosystem. We’re excited to partner with Daniele and the team at Axyon AI. Our investment in Axyon AI is a testament to our belief in the transformative power of AI in the financial sector and our confidence in the company’s ability to execute.”
As mentioned in the announcement, Axyon AI is a fintech company “on a mission to bring asset managers to the future with superior and accurate AI predictive solutions.”
The company helps uncover alpha opportunities “with AI through its optimised indices on equities and ETFs and AI-powered asset rankings.”
Axyon AI is pleased to be “one of the world’s most innovative AI technology providers for financial services, being one of the few to experiment with Quantum computing applications to the investment management sector and included in the AIFINTECH100 for 2023.”