[Funding alert] Modena-based Axyon AI Secures €3.9Million in Funding

Friday 26, 2024 | By Startup Rise EU

Modena-based Axyon AI Secures €3.9Million in Funding. This round was led by the US-based venture capital firm Montage Ventures and accompanied by The Techshop SGR, alongside other angel investors.
co-founders: Giacomo Barigazzi, Daniele Grassi and Jacopo Credi

Modena-based Axyon AI Secures €3.9Million in Funding. This round was led by the US-based venture capital firm Montage Ventures and accompanied by The Techshop SGR, alongside other angel investors.

The 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 catalyse Axyon AI's commercial expansion and technological development initiatives, fostering further innovation.

Read also - London-based OpenDialog Secures over €7 Million in Series A Round Funding

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.

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. 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.”

Gianluca D'Agostino and Aurelio Mezzotero, managing partners at The Techshop said, “We are pleased to invest in Axyon AI and help them scale their customer base, AI will become centric to every asset manager's investment process and turn into a global, truly borderless industry: in this new world, Daniele, Giacomo and Jacopo and their team are in a promising position to take centerstage. We look forward to working with them and their distinguished investors in this endeavour, bringing to the table our AI clout, coupled with our knowledge of the fintech industry and a steadfast support”.

About Axyon AI

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.

Read also - Berlin-based Packmatic Secures €15 Million in Series A Round Funding

Recommended Stories for You

story
News

German-based Octomind Secures $4.8 Million in Seed Funding

Startup Rise EU Tuesday 23, 2024

story
News

Dublin-based SynOx Therapeutics Secures $75Million in Series B Round Funding

Startup Rise EU Tuesday 23, 2024

story
News

Paris-based Zefir Secures €11Million in Funding

Startup Rise EU Tuesday 23, 2024

story
News

Helsinki-based HappySignals Secures €12 Million in Funding

Startup Rise EU Tuesday 23, 2024

story
News

Italian-based Lithium Lasers Secures €2 Million in Funding

Startup Rise EU Monday 22, 2024

story
News

[Funding alert] Munich-based Smart Reporting Secures €23 Million in Series C Round Funding

Startup Rise EU Monday 22, 2024