Asset servicing technology news | Axyon AI completes €1.6 million funding round – Asset Servicing Times

07 October 2022
Italy
Reporter Lucy Carter
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Artificial intelligence (AI) provider Axyon AI has completed a €1.6 million funding round, which will be used to continue its international expansion and advance Axyon IRIS, its AI-powered market insights and investment strategies tool.

The round was led by the Fondo Rilancio Startup with ING, UniCredit, Gemini and Metes as co-investors. It was managed by CDP Venture Capital SGR.

The Italy-based company won ING Bank’s International Innovation Studio acceleration programme in 2016, securing its first external investment from the bank. It then completed a €1.5 million funding round in 2018, led by ING and UniCredit, allowing for further expansion.

Daniele Grassi, CEO and co-founder of Axyon AI, says: “This latest funding round is a crucial step in developing Axyon AI’s proposition, supporting research and development and our international expansion. Our technology has already proven its performance in the asset management industry, and clients increasingly trust Axyon AI to support their investment management processes.

“This funding round provides further evidence that the market recognises Axyon AI’s commitment to AI excellence. These new financial resources will help to reinforce the growth of our team and support our continued focus on innovating and improving our AI and deep learning models — which have already become an integral part of our clients’ investment processes.”
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