Axyon AI, a Modena, Italy-based AI provider for the asset management industry, has announced the completion of a €1.6 million (£1.4 million) funding round.
The round was led by the Fondo Rilancio Startup (Relaunch Start-up Fund), managed by CDP Venture Capital SGR, with participation from ING, UniCredit, Geminea, and Metes.
Axyon AI will use this new round of funding to support its international growth and to evolve the Axyon IRIS® flagship product that empowers asset managers with AI-powered market insights and investment strategies.
Daniele Grassi, Co-Founder and CEO of Axyon AI, said: "This latest funding round is a crucial step in developing Axyon AI's proposition, supporting research & 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."
"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 client's investment processes."
Company: Axyon AI SRL
Funding Month: October 2022
Lead Investors: Fondo Rilancio Startup
Additional Investors: ING, UniCredit, Geminea, and Metes
Company Website: https://axyon.ai/
Software Category: AI solutions for investment management
About the Company: Founded in Modena, Italy, in 2016, Axyon AI is a fintech company with a mission to bring AI-powered predictive value to the investment management industry. Its fully automated web-based platform helps clients enhance their investment strategies' performance by accessing powerful AI-powered forecasts and AI-based strategies. Axyon AI leverage advanced AI to forecast and nowcast complex multivariate stochastic processes through (un)supervised probabilistic time series modeling.